New Jersey Resources Affirms FY2024 Adj EPS Guidance $2.85-3.00 vs $2.93 Est

5/7/24 8:38:16 AM ET

Oil/Gas Transmission

Utilities

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iscal 2024 NFE Guidance:

NJR re-affirmed its fiscal 2024 NFEPS guidance range of $2.85 to $3.00, which was increased by $0.15 in February 2024, subject to the risks and uncertainties identified below under "Forward-Looking Statements."

In fiscal 2024, NJR expects Energy Services will represent a higher percentage of NFEPS than in prior years due to contributions from the Asset Management Agreements signed in 2020*. The following chart represents NJR's current expected contributions from its business segments for fiscal 2024:

Company	Expected Fiscal 2024 Net Financial Earnings Contribution
New Jersey Natural Gas	40 to 45 percent
Clean Energy Ventures	12 to 17 percent
Storage and Transportation	3 to 7 percent
Energy Services	38 to 43 percent*
Home Services and Other	0 to 1 percent

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Date	Price Target	Rating	Analyst
9/21/2023	$44.00 → $46.00	Underweight → Neutral	JP Morgan
9/9/2022	$47.00 → $46.00	Neutral → Underweight	JP Morgan
1/5/2022	$42.00	Buy → Neutral	Mizuho
6/25/2021	$39.00	Neutral → Underperform	BofA Securities

New Jersey Resources Affirms FY2024 Adj EPS Guidance $2.85-3.00 vs $2.93 Est

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New Jersey Resources Affirms FY2024 Adj EPS Guidance $2.85-3.00 vs $2.93 Est

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