Filing Flows › New Jersey Resources (NJR) › Q2 FY25
New Jersey Resources (NJR) Q2 FY25 earnings results (second quarter fiscal 2025)
10-Q filed May 6, 2025
New Jersey Resources (NJR) reported revenue of $913M for the second quarter fiscal 2025 (Q2 FY25), +39% from a year earlier and +87% from the quarter before. Operating margin was 30.7%, net earnings $204M (22.4% of revenue).
New Jersey Resources, Q2 FY25: revenue $913M (+39% year over year), operating margin 30.7%, net earnings $204M, operating cash flow $423M. The chart follows the revenue to costs, profit and cash.
| Q2 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $913M | +87% | +39% |
| Operating profit | $280M | +48% | +64% |
| Net earnings | $204M | +56% | +69% |
| Operating cash flow | $423M | — | +45% |
| Free cash flow | $288M | — | +70% |
What changed
Revenue was $913.0M in Q2 FY25, up 39% year over year and up 87% from the previous quarter. Natural gas utility sales was the largest line at 56% of revenue. Natural gas utility sales added $138.4M year over year (up 37%), 54% of the total change. Electricity sales declined 24%.
Operating profit was $279.9M, a 30.7% margin (up 4.8 points year over year). Of the extra revenue versus a year earlier, 43% reached operating profit, above the 26% margin then. Total costs grew 30% against revenue growth of 39%. Net earnings were $204.3M, up 69% year over year. The effective tax rate was 23.2%.
Operating cash flow was $423.0M (up 45% year over year), 207% of net earnings. Non-cash charges added back $48.0M of depreciation and amortization. Working capital and other items added $170.8M. Capital expenditures of $134.7M left free cash flow of $288.3M.
Questions
What was New Jersey Resources' revenue in the second quarter fiscal 2025?
New Jersey Resources (NJR) reported revenue of $913M for the second quarter fiscal 2025 (Q2 FY25), +39% from a year earlier and +87% from the quarter before.
Was New Jersey Resources profitable in the second quarter fiscal 2025?
Operating profit was $280M (30.7% of revenue) and net earnings $204M.