New Jersey Resources Earnings: Here’s Why Investors are Ambivalent Now

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New Jersey Resources Corp. (NYSE:NJR) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

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New Jersey Resources Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 8.89% to $1.64 in the quarter versus EPS of $1.80 in the year-earlier quarter.

Revenue: Rose 56.77% to $960.9 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: New Jersey Resources Corp. reported adjusted EPS income of $1.64 per share. By that measure, the company missed the mean analyst estimate of $1.67. It beat the average revenue estimate of $518.92 million.

Quoting Management: “Our commitment to the fundamentals is helping us to realize continued, consistent performance and long-term growth,” said Laurence M. Downes, chairman and CEO of New Jersey Resources. “Since the beginning of the calendar year, NJR stock has provided a total return of over 20 percent, outperforming its peer group. And we’ve achieved this in the aftermath of Superstorm Sandy, one of the most challenging periods in the history of our company – thanks to the dedication and resolve of our 900 employees.”

Key Stats (on next page)…

Revenue increased 30.55% from $736.02 million in the previous quarter. EPS increased 92.94% from $0.85 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.11 to a profit $0.16. For the current year, the average estimate has moved up from a profit of $2.55 to a profit of $2.61 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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