new jersey resources corp (NJR) Key Developments
New Jersey Resources Corp. Presents at American Gas Association 2015 Financial Forum, May-17-2015
May 18 15
New Jersey Resources Corp. Presents at American Gas Association 2015 Financial Forum, May-17-2015 . Venue: JW Marriott Desert Springs, 74855 Country Club Drive, Palm Desert, CA 92260, United States.
New Jersey Resources Announces Promotion of Jamie Kent as Treasurer
May 14 15
New Jersey Resources announced the promotion of Jamie Kent to Treasurer, effective immediately. Mr. Kent will be responsible for the leadership of the corporate finance and risk management functions, including treasury and investor relations. Mr. Kent joined the company as the director of Sarbanes-Oxley Compliance in December of 2013 and was named Director of Risk Management in January 2015. With over 23 years of experience in the energy industry, he is an accomplished leader in the fields of risk management and financial controls. Prior to NJR, he worked for such organizations as Constellation Energy, American Electric Power and Deloitte and Touche, as well as other energy companies across the United States.
New Jersey Resources Declares Quarterly Dividend, Payable on July 1, 2015
May 13 15
The board of directors of New Jersey Resources unanimously declared a quarterly dividend on its common stock of $0.225 per share. The dividend will be payable on July 1, 2015 to shareowners of record on June 15, 2015.
New Jersey Resources Corporation Appoints Amanda Mullan as Vice President of Human Resources
May 12 15
New Jersey Resources Corporation has appointed Amanda Mullan as vice president of human resources. With more than 20 years of experience in human resource management, Ms. Mullan will be responsible for designing and managing the company's programs and strategies to maximize the potential of its workforce, including labor and employee relations, team building and training, strategic workforce planning and compensation and benefits initiatives.
New Jersey Resources Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended March 31, 2015; Revised Earnings Guidance for the Year 2015
May 7 15
New Jersey Resources Corporation reported unaudited consolidated earnings results for the second quarter and six months ended March 31, 2015. For the quarter, the company reported total operating revenues of USD 1,013.090 million compared to USD 1,579.569 million a year ago. Operating income was USD 82.806 million compared to USD 247.012 million a year ago. Income before income taxes and equity in earnings of affiliates was USD 77.460 million compared to USD 241.418 million a year ago. Net income was USD 60.903 million compared to USD 172.971 million a year ago. Diluted earnings per share were USD 0.71 compared to USD 2.04 a year ago.
For the six months, the company reported total operating revenues of USD 1,837.214 million compared to USD 2,457.974 million a year ago. Operating income was USD 251.503 million compared to USD 259.236 million a year ago. Income before income taxes and equity in earnings of affiliates was USD 238.852 million compared to USD 248.474 million a year ago. Net income was USD 184.223 million compared to USD 180.664 million a year ago. Diluted earnings per share were USD 2.14 compared to USD 2.13 a year ago.
The company revised earnings guidance for the year 2015. For the year, the company expected annual long-term NFE-per-share growth rate goal is a range of 5% to 9%. The company continues to expect between 65% and 80% of its long-term NFE will be generated by its regulated businesses, NJNG and NJR Midstream. The company’s estimated annual effective tax rate is 24.9%. The company raised its fiscal 2015 NFE guidance to a range of USD 1.65 to USD 1.75 per share from its previous guidance range of USD 1.60 to USD 1.70 per share. This is the second time the company has raised its NFE guidance this year. The company initial guidance was a range of USD 1.45 to USD 1.55 per share. Better-than-expected results from NJR Energy Services are the primary reason for the increase in guidance.