Filing Flows › New Jersey Resources (NJR) › Q4 FY24
New Jersey Resources (NJR) Q4 FY24 earnings results (fourth quarter fiscal 2024)
10-K filed Nov 26, 2024
New Jersey Resources (NJR) reported revenue of $396M for the fourth quarter fiscal 2024 (Q4 FY24), +19% from a year earlier and +44% from the quarter before. Operating margin was 36.9%, net earnings $91.1M (23.0% of revenue).
New Jersey Resources, Q4 FY24: revenue $396M (+20% year over year), operating margin 36.9%, net earnings $91.1M, operating cash flow $64.5M. The chart follows the revenue to costs, profit and cash.
| Q4 FY24 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $396M | +44% | +19% |
| Operating profit | $146M | 25× | +127% |
| Net earnings | $91.1M | — | +146% |
| Operating cash flow | $64.5M | +166% | -29% |
What changed
Revenue was $395.8M in Q4 FY24, up 19% year over year and up 44% from the previous quarter. Natural gas services was the largest line at 35% of revenue.
Operating profit was $146.1M, a 36.9% margin (up 17.5 points year over year). Of the extra revenue versus a year earlier, 127% reached operating profit, above the 19% margin then. Total costs fell 7% while revenue rose 19%. Net earnings were $91.1M, up 146% year over year. The effective tax rate was 25.3%.
Operating cash flow was $64.5M (down 29% year over year), 71% of net earnings. Non-cash charges added back $45.3M of depreciation and amortization. Working capital and other items used $71.9M. Capital expenditures of $175.5M exceeded it, leaving free cash flow of −$111.0M.
Questions
What was New Jersey Resources' revenue in the fourth quarter fiscal 2024?
New Jersey Resources (NJR) reported revenue of $396M for the fourth quarter fiscal 2024 (Q4 FY24), +19% from a year earlier and +44% from the quarter before.
Was New Jersey Resources profitable in the fourth quarter fiscal 2024?
Operating profit was $146M (36.9% of revenue) and net earnings $91.1M.