Generating ProfitsSouth Jersey's business mix is firing on all cylinders. The company's regulated natural-gas distribution business -- South Jersey Gas -- had a great first quarter, aided by a cold winter and high demand for natural gas. The company saw demand surge as temperatures were 6% colder than average. While part of the profit potential was mitigated by a temperature adjustment feature in the company's rate plan, revenue and earnings still increased nearly 13% from a year ago.
|Utilitarian Growth |
South Jersey Industries powers higher
|Year||Revenue (millions)||Earnings Per Share|
|Source: Value Line, company reports, TSC research|
Earnings also were helped by the company's nonregulated businesses, primarily its retail gas marketing operations. In the first quarter, South Jersey posted a 21% increase in profits in its unregulated business unit.