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South Jersey Industries posts Q2 economic loss

South Jersey Industries Inc. on Aug. 7 reported an economic loss of $12.2 million, or a loss of 13 cents per share, in the second quarter, compared with economic earnings of $5.5 million, or 7 cents per share, in the prior-year period.

The S&P Global Market Intelligence consensus normalized EPS estimate for the second quarter was a loss of 4 cents.

South Jersey Industries reported a GAAP loss of $13.3 million, or a loss of 14 cents per share, against a loss of $93.8 million, or a loss of $1.12 per share, in the year-ago quarter. Total operating revenue was $266.9 million, an increase from $227.3 million a year earlier.

The parent company reaffirmed its 2019 economic EPS guidance at $1.05 to $1.15. The S&P Global Market Intelligence consensus normalized EPS guidance for the year is $1.10. The company also reaffirmed its 2020 economic EPS guidance at $1.53 to $1.67.

South Jersey Industries' regulated natural gas utility business SJI Utilities Inc. serves about 690,000 customers in New Jersey and Maryland.