This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

New Jersey Resources Reports Higher Year-to-Date Fiscal 2012 Net Financial Earnings; Narrows Earnings Guidance Range

Stocks in this article: NJR

New Jersey Resources (NYSE: NJR) today reported earnings for the third fiscal quarter and first nine months of fiscal 2012 and narrowed its net financial earnings guidance range for the year.

A reconciliation of net income to net financial earnings for the three and nine months ended June 30 in fiscal 2012 and 2011 is provided below.



Three Months Ended Nine Months Ended
June 30, June 30,
(Thousands) 2012       2011 2012       2011
Net (loss) income $ (10,320) $ 20,374 $ 101,572 $ 108,810

Unrealized loss (gain) on derivative instrumentsand related transactions, net of taxes

20,834 (2,875) 11,126 33,835
Effects of economic hedging related to natural

gas inventory, net of taxes

(6,384) (7,800) 10,866 (36,787)
Net financial earnings $ 4,130 $ 9,699 $ 123,564 $ 105,858
Weighted Average Shares Outstanding
Basic 41,560 41,381 41,501 41,338
Diluted 41,560 41,597 41,643 41,551
Basic (loss) earnings per share $ (0.25) $ 0.49 $ 2.45 $ 2.63
Basic net financial earnings per share $ 0.10 $ 0.23 $ 2.98 $ 2.56

Net financial earnings is a financial measure not calculated in accordance with generally accepted accounting principles (GAAP) of the United States as it excludes all unrealized, and certain realized, gains and losses associated with derivative instruments. For further discussion of this financial measure, as well as reconciliation to the most comparable GAAP measure, please see the explanation below under “Additional Non-GAAP Financial Information.”

  • NJR Net Financial Earnings Per Share Increase 16 Percent

Fiscal 2012 year-to-date net financial earnings at NJR totaled $123.6 million, or $2.98 per share, compared with $105.9 million, or $2.56 per share, during the first nine months of fiscal 2011. This increase is due primarily to improved year-to-date results at New Jersey Natural Gas and NJR Clean Energy Ventures, the company’s renewable energy subsidiary. For the three-month period ended June 30, 2012, net financial earnings were $4.1 million, compared with $9.7 million during the same period last year. This decrease was due primarily to the expected lower quarterly results from NJR Energy Services.

1 of 11

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs