New Jersey Resources Corp. Q1 Profit Declines Amid Lower Utility Margins

New Jersey Resources Corp. (NJR) reported a decline in fiscal first-quarter net income to $62.4 million, or $0.78 per share, from $73.9 million, or $0.93 per share, in the same period last year, citing reduced gross margins in its natural gas utility segment. The results missed analyst expectations of $0.85 per share. The company attributed the drop primarily to lower decoupling revenues and higher operating expenses at New Jersey Natural Gas, its regulated utility subsidiary. Despite the earnings dip, NJR reaffirmed its full-year adjusted earnings guidance of $3.15 to $3.35 per share, supported by growth in its clean energy and midstream segments. Shares of NJR fell 2.3% in after-hours trading following the earnings release on February 2, 2026.