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New Jersey Resources' fiscal Q1 results soar on gains from regulated businesses

New Jersey Resources Corp. on Feb. 8 posted net financial earnings of $135.3 million, or $1.56 per share, for the fiscal first quarter, an increase from $40.4 million, or 47 cents per share, in the prior-year period.

The S&P Capital IQ consensus normalized earnings estimate for the fiscal first quarter was 59 cents per share.

GAAP earnings were $123.7 million, or $1.42 per share, compared with $34.9 million, or 40 cents per share, in the year-ago quarter.

Total operating revenues was $705.3 million, compared with $541.0 million in the year-ago quarter. Utility gross margin was $100.9 million, an increase from $97.9 million in the prior-year period.

The company raised its fiscal full-year net financial earnings guidance to $2.55 per share to $2.65 per share. The S&P Capital IQ consensus normalized EPS guidance for the year is $1.82.