New Jersey Resources Earnings: Here’s Why Investors Like These Results
New Jersey Resources Corp. (NYSE:NJR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.55%.
New Jersey Resources Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 130% to $0.23 in the quarter versus EPS of $0.10 in the year-earlier quarter.
Revenue: Rose 80.54% to $767.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: New Jersey Resources Corp. reported adjusted EPS income of $0.23 per share. By that measure, the company beat the mean analyst estimate of $0.22. It beat the average revenue estimate of $436.21 million.
Quoting Management: “As we emerge from the most challenging time in our company’s history, in the aftermath of Superstorm Sandy, our strong financial profile, the continuing opportunity to invest in the safety and reliability of our infrastructure and the demonstrated ability of our employees to perform allow us to continue to deliver long-term value to our shareowners,” said Laurence M. Downes, chairman and CEO of New Jersey Resources.
Key Stats (on next page)…
Revenue decreased 20.13% from $960.89 million in the previous quarter. EPS decreased 85.98% from $1.64 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a loss of $0.09 and has not changed. For the current year, the average estimate has moved down from a profit of $2.64 to a profit of $2.63 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)