Filing Flows › New Jersey Resources (NJR) › Q1 FY26
New Jersey Resources (NJR) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Feb 3, 2026
New Jersey Resources (NJR) reported revenue of $605M for the first quarter fiscal 2026 (Q1 FY26), +24% from a year earlier and +80% from the quarter before. Operating margin was 29.6%, net earnings $122M (20.3% of revenue).
New Jersey Resources, Q1 FY26: revenue $605M (+24% year over year), operating margin 29.6%, net earnings $122M, operating cash flow $26.7M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $605M | +80% | +24% |
| Operating profit | $179M | +344% | -5% |
| Net earnings | $122M | +713% | -7% |
| Operating cash flow | $26.7M | -67% | — |
What changed
Revenue was $604.9M in Q1 FY26, up 24% year over year and up 80% from the previous quarter. Natural gas utility sales was the largest line at 62% of revenue. Natural gas utility sales added $78.5M year over year (up 26%), 67% of the total change. Electricity sales declined 4%.
Operating profit was $179.2M, a 29.6% margin (down 9.2 points year over year). Operating profit fell $10.4M even though revenue rose $116.5M versus a year earlier, so costs grew faster than sales. Total costs grew 42% against revenue growth of 24%. Net earnings were $122.5M, down 7% year over year. The effective tax rate was 21.8%.
Operating cash flow was $26.7M, 22% of net earnings. Non-cash charges added back $49.6M of depreciation and amortization. Working capital and other items used $145.3M.
Questions
What was New Jersey Resources' revenue in the first quarter fiscal 2026?
New Jersey Resources (NJR) reported revenue of $605M for the first quarter fiscal 2026 (Q1 FY26), +24% from a year earlier and +80% from the quarter before.
Was New Jersey Resources profitable in the first quarter fiscal 2026?
Operating profit was $179M (29.6% of revenue) and net earnings $122M.