South Jersey Industries 1Q Profit Rises 28 Percent

FOLSOM, N.J. (AP) — South Jersey Industries Inc. said Monday its profit climbed 28 percent in the first quarter on strong results from its asset management, marketing and on-site management energy production businesses.

Earnings available to common shareholders rose to $31.6 million, or $1.06 per share, compared with $24.7 million, or 83 cents per share, a year earlier.

Adjusted profit was $43.7 million, or $1.46 per share, which beat the $1.33 per-share estimate of analysts surveyed by Thomson Reuters. Analysts typically exclude one-time items from their estimates.

Revenue for the period ended March 31 edged up 4 percent to $362.2 million from $348 million.

Shares of South Jersey Industries added 18 cents to $35.24 in morning trading.