Filing Flows › New Jersey Resources (NJR) › Q2 FY26 › vs Q1 FY26
New Jersey Resources (NJR) Q2 FY26 vs Q1 FY26 (quarter over quarter)
New Jersey Resources's revenue rose $335M (+55%) from $605M in Q1 FY26 to $939M in Q2 FY26. The biggest changes: Natural gas utility sales +$200M (+53%); Other revenues +$134M (+82%); Natural gas services +$2.0M (+5%). Operating margin 32.0% against 29.6% (+2.4 pts).
New Jersey Resources, Q2 FY26: revenue $939M (+3% year over year), operating margin 32.0%, net earnings $219M, operating cash flow $563M. The chart draws each line against Q1 FY26, the increases inside each band.
Margins
| Q2 FY26 | Q1 FY26 | Change | |
|---|---|---|---|
| Operating margin | 32.0% | 29.6% | +2.4 pts |
| Net margin | 23.3% | 20.3% | +3.1 pts |
Every line
| Line | Q2 FY26 | Q1 FY26 | Change | % |
|---|---|---|---|---|
| Natural gas utility sales | $575M | $375M | $200M | +53% |
| Natural gas services | $42.9M | $40.9M | $2.0M | +5% |
| Service contracts | $9.5M | $9.5M | $73K | +0.8% |
| Electricity sales | $5.5M | $5.6M | −$112K | -2% |
| Installations and maintenance | $5.4M | $6.6M | −$1.1M | -17% |
| Renewable energy certificates | $3.4M | $3.7M | −$357K | -10% |
| Other revenues | $298M | $164M | $134M | +82% |
| Revenue | $939M | $605M | $335M | +55% |
| Operating profit | $301M | $179M | $122M | +68% |
| Costs & expenses | $638M | $426M | $213M | +50% |
| Pre-tax earnings | $285M | $157M | $128M | +82% |
| Other expense, net | $15.9M | $22.5M | −$6.6M | -29% |
| Net earnings | $219M | $122M | $96.4M | +79% |
| Income tax | $66.2M | $34.2M | $32.0M | +93% |
| Depreciation & amortization | $50.1M | $49.6M | $553K | +1% |
| Working capital & other | $294M | −$145M | $439M | — |
| Operating cash flow | $563M | $26.7M | $536M | 21× |
Questions
How much did New Jersey Resources's revenue grow quarter over quarter in Q2 FY26?
New Jersey Resources's revenue rose $335M (+55%) from $605M in Q1 FY26 to $939M in Q2 FY26.
What drove New Jersey Resources's revenue change in Q2 FY26?
Natural gas utility sales +$200M (+53%); Other revenues +$134M (+82%); Natural gas services +$2.0M (+5%).