Filing Flows › New Jersey Resources (NJR) › Q3 FY26 › vs Q2 FY26
New Jersey Resources (NJR) Q3 FY26 vs Q2 FY26 (quarter over quarter)
New Jersey Resources's revenue fell $590M (-63%) from $939M in Q2 FY26 to $349M in Q3 FY26. The biggest changes: Natural gas utility sales −$403M (-70%); Other revenues −$207M (-69%); Natural gas services +$6.5M (+15%). Operating margin 9.1% against 32.0% (-22.9 pts).
New Jersey Resources, Q3 FY26: revenue $349M (+17% year over year), operating margin 9.1%, net earnings $9.7M, operating cash flow −$11.6M. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q3 FY26 | Q2 FY26 | Change | |
|---|---|---|---|
| Operating margin | 9.1% | 32.0% | -22.9 pts |
| Net margin | 2.8% | 23.3% | -20.5 pts |
Every line
| Line | Q3 FY26 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Natural gas utility sales | $172M | $575M | −$403M | -70% |
| Natural gas services | $49.4M | $42.9M | $6.5M | +15% |
| Electricity sales | $10.6M | $5.5M | $5.1M | +92% |
| Service contracts | $9.8M | $9.5M | $232K | +2% |
| Renewable energy certificates | $8.5M | $3.4M | $5.1M | +151% |
| Installations and maintenance | $8.0M | $5.4M | $2.6M | +47% |
| Other revenues | $91.0M | $298M | −$207M | -69% |
| Revenue | $349M | $939M | −$590M | -63% |
| Operating profit | $31.9M | $301M | −$269M | -89% |
| Costs & expenses | $317M | $638M | −$321M | -50% |
| Pre-tax earnings | $13.0M | $285M | −$272M | -95% |
| Other expense, net | $18.9M | $15.9M | $2.9M | +18% |
| Net earnings | $9.7M | $219M | −$209M | -96% |
| Income tax | $3.4M | $66.2M | −$62.8M | -95% |
| Operating cash sources | $74.8M | −$294M | $368M | — |
| Depreciation & amortization | $53.5M | $50.1M | $3.4M | +7% |
| Cash used in operations | $11.6M | −$563M | $574M | — |
| Working capital & other | $74.8M | −$294M | $368M | — |
Questions
How much did New Jersey Resources's revenue grow quarter over quarter in Q3 FY26?
New Jersey Resources's revenue fell $590M (-63%) from $939M in Q2 FY26 to $349M in Q3 FY26.
What drove New Jersey Resources's revenue change in Q3 FY26?
Natural gas utility sales −$403M (-70%); Other revenues −$207M (-69%); Natural gas services +$6.5M (+15%).