Latest news with #EnergyServices
Yahoo
5 days ago
- Business
- Yahoo
Energy Services of America to Present and Host 1x1 Investor Meetings at the 15th Annual East IDEAS Investor Conference on June 11
HUNTINGTON, June 5, 2025 /PRNewswire/ -- Energy Services of America (Nasdaq: ESOA), today announced its President, Doug Reynolds, and Chief Financial Officer, Charles Crimmel, will present at the East Coast IDEAS Investor Conference on Wednesday, June 11, 2025 in New York, NY. The company's presentation is scheduled to begin at 8:35am ET. The presentation is webcast and can be accessed through the conference host's main website: If interested in participating or learning more about the IDEAS conferences, please contact Lacey Wesley at (817) 769 -2373 or lWesley@ About Energy Services Energy Services of America Corporation (NASDAQ: ESOA), headquartered in Huntington, WV, is a contractor and service company that operates primarily in the mid-Atlantic and Central regions of the United States and provides services to customers in the natural gas, petroleum, water distribution, automotive, chemical, and power industries. Energy Services employs 1,000+ employees on a regular basis. The Company's core values are safety, quality, and production. View original content: SOURCE Energy Services of America Corporation Sign in to access your portfolio
Yahoo
26-05-2025
- Business
- Yahoo
Kim Heng (Catalist:5G2) Is Looking To Continue Growing Its Returns On Capital
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base of capital employed. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. With that in mind, we've noticed some promising trends at Kim Heng (Catalist:5G2) so let's look a bit deeper. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. Analysts use this formula to calculate it for Kim Heng: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) 0.045 = S$4.0m ÷ (S$182m - S$93m) (Based on the trailing twelve months to December 2024). Therefore, Kim Heng has an ROCE of 4.5%. In absolute terms, that's a low return but it's around the Energy Services industry average of 4.3%. See our latest analysis for Kim Heng Historical performance is a great place to start when researching a stock so above you can see the gauge for Kim Heng's ROCE against it's prior returns. If you're interested in investigating Kim Heng's past further, check out this free graph covering Kim Heng's past earnings, revenue and cash flow. While there are companies with higher returns on capital out there, we still find the trend at Kim Heng promising. Looking at the data, we can see that even though capital employed in the business has remained relatively flat, the ROCE generated has risen by 42% over the last five years. So our take on this is that the business has increased efficiencies to generate these higher returns, all the while not needing to make any additional investments. On that front, things are looking good so it's worth exploring what management has said about growth plans going forward. On a side note, we noticed that the improvement in ROCE appears to be partly fueled by an increase in current liabilities. Essentially the business now has suppliers or short-term creditors funding about 51% of its operations, which isn't ideal. And with current liabilities at those levels, that's pretty high. To bring it all together, Kim Heng has done well to increase the returns it's generating from its capital employed. Since the stock has returned a staggering 177% to shareholders over the last five years, it looks like investors are recognizing these changes. So given the stock has proven it has promising trends, it's worth researching the company further to see if these trends are likely to persist. One more thing: We've identified 4 warning signs with Kim Heng (at least 1 which is concerning) , and understanding these would certainly be useful. For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Yahoo
25-05-2025
- Business
- Yahoo
Carimin Petroleum Berhad (KLSE:CARIMIN) Will Be Hoping To Turn Its Returns On Capital Around
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. However, after briefly looking over the numbers, we don't think Carimin Petroleum Berhad (KLSE:CARIMIN) has the makings of a multi-bagger going forward, but let's have a look at why that may be. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. Analysts use this formula to calculate it for Carimin Petroleum Berhad: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) 0.11 = RM29m ÷ (RM377m - RM113m) (Based on the trailing twelve months to December 2024). So, Carimin Petroleum Berhad has an ROCE of 11%. In absolute terms, that's a pretty normal return, and it's somewhat close to the Energy Services industry average of 12%. Check out our latest analysis for Carimin Petroleum Berhad While the past is not representative of the future, it can be helpful to know how a company has performed historically, which is why we have this chart above. If you want to delve into the historical earnings , check out these free graphs detailing revenue and cash flow performance of Carimin Petroleum Berhad. On the surface, the trend of ROCE at Carimin Petroleum Berhad doesn't inspire confidence. To be more specific, ROCE has fallen from 18% over the last five years. Meanwhile, the business is utilizing more capital but this hasn't moved the needle much in terms of sales in the past 12 months, so this could reflect longer term investments. It's worth keeping an eye on the company's earnings from here on to see if these investments do end up contributing to the bottom line. To conclude, we've found that Carimin Petroleum Berhad is reinvesting in the business, but returns have been falling. And investors may be recognizing these trends since the stock has only returned a total of 10% to shareholders over the last five years. As a result, if you're hunting for a multi-bagger, we think you'd have more luck elsewhere. One more thing: We've identified 3 warning signs with Carimin Petroleum Berhad (at least 1 which makes us a bit uncomfortable) , and understanding these would certainly be useful. If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Yahoo
11-05-2025
- Business
- Yahoo
ACT Energy Technologies First Quarter 2025 Earnings: Beats Expectations
Revenue: CA$135.4m (down 18% from 1Q 2024). Net income: CA$7.25m (down 37% from 1Q 2024). Profit margin: 5.4% (down from 7.0% in 1Q 2024). The decrease in margin was driven by lower revenue. EPS: CA$0.21 (down from CA$0.34 in 1Q 2024). We check all companies for important risks. See what we found for ACT Energy Technologies in our free report. All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue exceeded analyst estimates by 3.3%. Earnings per share (EPS) also surpassed analyst estimates by 8.6%. Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 10% growth forecast for the Energy Services industry in Canada. Performance of the Canadian Energy Services industry. The company's share price is broadly unchanged from a week ago. While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We've done some analysis and you can see our take on ACT Energy Technologies' balance sheet. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
05-05-2025
- Business
- Business Wire
New Jersey Resources Reports Fiscal 2025 Second-Quarter Results
WALL, N.J.--(BUSINESS WIRE)--New Jersey Resources Corporation (NYSE: NJR) today reported financial and operating results for its fiscal 2025 second quarter ended March 31, 2025. Highlights include: Fiscal 2025 second-quarter consolidated net income of $204.3 million, or $2.04 per share, compared with net income of $120.8 million, or $1.23 per share, in the second quarter of fiscal 2024 Consolidated net financial earnings (NFE), a non-GAAP financial measure, of $178.3 million, or $1.78 per share, in the second-quarter of fiscal 2025, compared to NFE of $138.6 million, or $1.41 per share, in the second quarter of fiscal 2024 Fiscal 2025 year-to-date net income totaled $335.6 million, or $3.35 per share, compared with $210.2 million, or $2.14 per share, for the same period in fiscal 2024 Fiscal 2025 year-to-date NFE totaled $307.2 million, or $3.07 per share, compared with $211.0 million, or $2.15 per share, for the same period in fiscal 2024 Fiscal 2025 Outlook Increases fiscal 2025 net financial earnings per share (NFEPS) guidance to a range of $3.15 to $3.30, from $3.05 to $3.20, a $0.10 increase, as a result of outperformance from Energy Services during the winter period Maintains 7 to 9 percent long-term NFEPS growth target, based off of a target of $2.83 per share for fiscal 2025 Management Commentary Steve Westhoven, President and CEO of New Jersey Resources, stated, "We continued to execute our strategy to deliver stable growth through our diversified business model. Our second-quarter performance exceeded expectations, largely driven by natural gas price volatility that benefited Energy Services during the winter period. Overall, we believe these results highlight the strength of our complementary portfolio and the value of our physical infrastructure.' Performance Metrics Net financial earnings (loss) by business segment Three Months Ended Six Months Ended March 31, March 31, (Thousands) 2025 2024 2025 2024 New Jersey Natural Gas $ 144,531 $ 107,095 $ 211,439 $ 158,539 Clean Energy Ventures (3,958 ) (5,616 ) 44,172 4,906 Storage and Transportation 2,343 1,981 8,007 5,621 Energy Services 35,301 37,644 43,134 45,475 Home Services and Other (678 ) 384 (63 ) (216 ) Subtotal 177,539 141,488 306,689 214,325 Eliminations 757 (2,912 ) 501 (3,305 ) Total $ 178,296 $ 138,576 $ 307,190 $ 211,020 Expand Fiscal 2025 NFEPS Guidance: NJR is raising its fiscal 2025 NFEPS guidance range by $0.10 to a range of $3.15 to $3.30, subject to the risks and uncertainties identified below under "Forward-Looking Statements." Fiscal 2025 NFEPS guidance is higher than the range implied by our 7 to 9 percent long-term NFEPS growth target as a result of the gain from the sale of NJR's residential solar portfolio and strong performance from Energy Services. The following chart represents NJR's current expected NFE contributions from its business segments for fiscal 2025 (which takes into account the impact of the gain from the sale of NJR's residential solar portfolio in the first quarter of fiscal 2025): In providing fiscal 2025 NFE guidance, management is aware there could be differences between reported GAAP net income and NFE due to matters such as, but not limited to, the positions of our energy-related derivatives. Management is not able to reasonably estimate the aggregate impact or significance of these items on reported earnings and, therefore, is not able to provide a reconciliation to the corresponding GAAP equivalent for its operating earnings guidance without unreasonable efforts. New Jersey Natural Gas (NJNG) NJNG reported second-quarter fiscal 2025 NFE of $144.5 million, compared to NFE of $107.1 million during the same period in fiscal 2024. Fiscal 2025 year-to-date NFE totaled $211.4 million, compared with NFE of $158.5 million for the same period in fiscal 2024. The increase in NFE for both periods was due primarily to higher utility gross margin resulting from NJNG's recent base rate case settlement, partially offset by higher depreciation expense. Customers: At March 31, 2025, NJNG serviced approximately 588,000 customers in New Jersey's Monmouth, Ocean, Morris, Middlesex, Sussex and Burlington counties, compared to approximately 583,000 customers at September 30, 2024. Infrastructure Update: NJNG's Infrastructure Investment Program (IIP) is a five-year, $150 million accelerated recovery program that began in fiscal 2021. IIP consists of a series of infrastructure projects designed to enhance the safety and reliability of NJNG's natural gas distribution system. In the first six months of fiscal 2025, NJNG spent $16.1 million under the program on various distribution system reinforcement projects. Basic Gas Supply Service (BGSS) Incentive Programs: BGSS incentive programs contributed $10.6 million to utility gross margin during the first six months of fiscal 2025, compared with $13.3 million in the same period in fiscal 2024. This decline was largely due to decreased margins from storage incentives. For more information on utility gross margin, please see "Non-GAAP Financial Information" below. Energy-Efficiency Programs: SAVEGREEN® invested $52.2 million year-to-date in fiscal 2025 in energy-efficiency upgrades for customers' homes and businesses. NJNG recovered $9.2 million of its outstanding investments during the first six months of fiscal 2025 through its energy efficiency rate. Clean Energy Ventures (CEV) CEV reported second-quarter fiscal 2025 net financial loss of $(4.0) million, compared with a net financial loss of $(5.6) million during the same period in fiscal 2024. The improvement from the prior year period was largely due to higher solar electricity sales as well as lower depreciation and amortization expenses during the period, offset by lower residential solar revenue during the period as a result of the sale of the residential solar business. Fiscal 2025 year-to-date NFE totaled $44.2 million, compared with NFE of $4.9 million for the same period in fiscal 2024. The increase in fiscal 2025 year-to-date NFE was largely due to the gain on sale of its residential solar portfolio, partially offset by the timing of Solar Renewable Energy Certificate (SREC) sales for the period. Solar Investment Update: During the first six months of fiscal 2025, CEV placed 2 commercial projects into service, adding 10.5 megawatts (MW) to total installed capacity. As of March 31, 2025, CEV had approximately 399MW of commercial solar capacity in service in New Jersey, New York, Connecticut, Rhode Island, Indiana, and Michigan. Subsequent to quarter end, CEV placed an additional project into service in New Jersey, adding over 18MW of installed capacity for a total of approximately 417MW currently in service. Storage and Transportation Storage and Transportation reported second-quarter fiscal 2025 NFE of $2.3 million, compared with NFE of $2.0 million during the same period in fiscal 2024. Fiscal 2025 year-to-date NFE totaled $8.0 million, compared with NFE of $5.6 million for the same period in fiscal 2024. NFE increased during both periods due to an increase in operating revenues at Leaf River, as well as lower operating and maintenance expense. On September 30, 2024, Adelphia Gateway, LLC (Adelphia) filed a general Section 4 rate case with the Federal Energy Regulatory Commission (FERC). Adelphia anticipates a resolution by the end of 2025. Energy Services Energy Services reported second-quarter fiscal 2025 NFE of $35.3 million, compared with $37.6 million for the same period in fiscal 2024. Fiscal 2025 year-to-date NFE totaled $43.1 million, compared with NFE of $45.5 million for the same period in fiscal 2024. Energy Services was able to take advantage of price volatility and capture additional financial margin over the past two winters. The decrease in NFE for both the fiscal 2025 second quarter and year-to-date periods was due to lower revenues from the Asset Management Agreements (AMAs) signed in December 2020. Home Services and Other Operations Home Services and Other Operations reported second-quarter fiscal 2025 net financial loss of $(0.7) million, compared to NFE of $0.4 million for the same period in fiscal 2024. Fiscal 2025 year-to-date net financial loss totaled $(0.1) million, compared with a net financial loss of $(0.2) million for the same period in fiscal 2024. Home Services reported higher installation and service contract revenue for both periods, offset by higher operating and maintenance expenses. Capital Expenditures and Cash Flows: NJR is committed to maintaining a strong financial profile: During the first six months of fiscal 2025, capital expenditures were $287.1 million, including accruals, compared with $232.6 million during the same period of fiscal 2024. The increase in capital expenditures was primarily due to higher expenditures at NJNG and CEV. During the first six months of fiscal 2025, cash flows from operations were $414.1 million, compared to cash flows from operations of $338.6 million during the same period of fiscal 2024. The increase was due primarily to an increase in base rates at NJNG along with changes in the mix of working capital components. Forward-Looking Statements: This earnings release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. NJR cautions readers that the assumptions forming the basis for forward-looking statements include many factors that are beyond NJR's ability to control or estimate precisely, such as estimates of future market conditions and the behavior of other market participants. Words such as 'anticipates,' 'estimates,' 'expects,' 'projects,' 'may,' 'will,' 'intends,' 'plans,' 'believes,' 'should' and similar expressions may identify forward-looking statements and such forward-looking statements are made based upon management's current expectations, assumptions and beliefs as of this date concerning future developments and their potential effect upon NJR. There can be no assurance that future developments will be in accordance with management's expectations, assumptions and beliefs or that the effect of future developments on NJR will be those anticipated by management. Forward-looking statements in this earnings release include, but are not limited to, statements regarding NJR's NFEPS guidance for fiscal 2025, projected NFEPS growth rates and our guidance range, forecasted contributions of business segments to NJR's NFE for fiscal 2025, impact of the sale of NJR's residential solar portfolio, infrastructure programs and investments, future decarbonization opportunities including IIP, Energy Efficiency programs, the outcome or timing of Adelphia's rate case with FERC; and other legal and regulatory expectations, and statements that include other projections, predictions, expectations or beliefs about future events or results or otherwise are not statements of historical fact. Additional information and factors that could cause actual results to differ materially from NJR's expectations are contained in NJR's filings with the SEC, including NJR's Annual Reports on Form 10-K and subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other SEC filings, which are available at the SEC's website, Information included in this earnings release is representative as of today only and while NJR periodically reassesses material trends and uncertainties affecting NJR's results of operations and financial condition in connection with its preparation of management's discussion and analysis of results of operations and financial condition contained in its Quarterly and Annual Reports filed with the SEC, NJR does not, by including this statement, assume any obligation to review or revise any particular forward-looking statement referenced herein in light of new information, future events or otherwise, except as required by law. Non-GAAP Financial Information: This earnings release includes the non-GAAP financial measures NFE/net financial loss, NFE per basic share, financial margin and utility gross margin. A reconciliation of these non-GAAP financial measures to the most directly comparable financial measures calculated and reported in accordance with GAAP can be found below. As an indicator of NJR's operating performance, these measures should not be considered an alternative to, or more meaningful than, net income or operating revenues as determined in accordance with GAAP. This information has been provided pursuant to the requirements of SEC Regulation G. NFE and financial margin exclude unrealized gains or losses on derivative instruments related to NJR's unregulated subsidiaries and certain realized gains and losses on derivative instruments related to natural gas that has been placed into storage at Energy Services, net of applicable tax adjustments as described below. Financial margin also differs from gross margin as defined on a GAAP basis as it excludes certain operations and maintenance expense and depreciation and amortization as well as the effects of derivatives as discussed above. Volatility associated with the change in value of these financial instruments and physical commodity reported on the income statement in the current period. In order to manage its business, NJR views its results without the impacts of the unrealized gains and losses, and certain realized gains and losses, caused by changes in value of these financial instruments and physical commodity contracts prior to the completion of the planned transaction because it shows changes in value currently instead of when the planned transaction ultimately is settled. An annual estimated effective tax rate is calculated for NFE purposes and any necessary quarterly tax adjustment is applied to NJR Energy Services Company. NJNG's utility gross margin is defined as operating revenues less natural gas purchases, sales tax, and regulatory rider expense. This measure differs from gross margin as presented on a GAAP basis as it excludes certain operations and maintenance expense and depreciation and amortization. Utility gross margin may also not be comparable to the definition of gross margin used by others in the natural gas distribution business and other industries. Management believes that utility gross margin provides a meaningful basis for evaluating utility operations since natural gas costs, sales tax and regulatory rider expenses are included in operating revenues and passed through to customers and, therefore, have no effect on utility gross margin. Management uses these non-GAAP financial measures as supplemental measures to other GAAP results to provide a more complete understanding of NJR's performance. Management believes these non-GAAP financial measures are more reflective of NJR's business model, provide transparency to investors and enable period-to-period comparability of financial performance. A reconciliation of all non-GAAP financial measures to the most directly comparable financial measures calculated and reported in accordance with GAAP can be found below. For a full discussion of NJR's non-GAAP financial measures, please see NJR's most recent Report on Form 10-K, Item 7. About New Jersey Resources New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses: New Jersey Natural Gas, NJR's principal subsidiary, operates and maintains natural gas transportation and distribution infrastructure to serve customers in New Jersey's Monmouth, Ocean, Morris, Middlesex, Sussex and Burlington counties. Clean Energy Ventures invests in, owns and operates solar projects, providing customers with low-carbon solutions. Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America. Storage and Transportation serves customers from local distributors and producers to electric generators and wholesale marketers through its ownership of Leaf River and the Adelphia Gateway Pipeline, as well as our 50% equity ownership in the Steckman Ridge natural gas storage facility. Home Services provides service contracts as well as heating, central air conditioning, water heaters, standby generators, solar and other indoor and outdoor comfort products to residential homes throughout New Jersey. NJR and its over 1,300 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as SAVEGREEN®. For more information about NJR: NFE is a measure of earnings based on the elimination of timing differences to effectively match the earnings effects of the economic hedges with the physical sale of natural gas, SRECs and foreign currency contracts. Consequently, to reconcile net income and NFE, current-period unrealized gains and losses on the derivatives are excluded from NFE as a reconciling item. Realized derivative gains and losses are also included in current-period net income. However, NFE includes only realized gains and losses related to natural gas sold out of inventory, effectively matching the full earnings effects of the derivatives with realized margins on physical natural gas flows. NFE also excludes certain transactions associated with equity method investments, including impairment charges, which are non-cash charges, and return of capital in excess of the carrying value of our investment. These are not indicative of the Company's performance for its ongoing operations. Included in the tax effects are current and deferred income tax expense corresponding with the components of NFE. FINANCIAL STATISTICS BY BUSINESS UNIT (Unaudited) Operating Revenues Natural Gas Distribution $ 618,645 $ 463,201 $ 952,410 $ 756,631 Clean Energy Ventures 7,967 9,325 34,373 44,620 Energy Services 246,390 144,862 332,698 244,530 Storage and Transportation 25,307 23,042 51,935 46,904 Home Services and Other 15,118 14,905 30,912 29,739 Sub-total 913,427 655,335 1,402,328 1,122,424 Eliminations (400 ) 2,578 (940 ) 2,699 Total $ 913,027 $ 657,913 $ 1,401,388 $ 1,125,123 Operating Income (Loss) Natural Gas Distribution $ 197,876 $ 140,279 $ 294,982 $ 214,454 Clean Energy Ventures (7,553 ) (7,679 ) 56,721 10,644 Energy Services 83,273 25,533 99,801 59,870 Storage and Transportation 5,800 5,910 15,569 13,234 Home Services and Other (393 ) 778 602 570 Sub-total 279,003 164,821 467,675 298,772 Eliminations 946 5,401 1,851 7,269 Total $ 279,949 $ 170,222 $ 469,526 $ 306,041 Equity in Earnings of Affiliates Storage and Transportation $ 1,161 $ 85 $ 2,122 $ 1,078 Eliminations 291 653 730 1,320 Total $ 1,452 $ 738 $ 2,852 $ 2,398 Net Income (Loss) Natural Gas Distribution $ 144,531 $ 107,095 $ 211,439 $ 158,539 Clean Energy Ventures (3,958 ) (5,616 ) 44,172 4,906 Energy Services 61,292 17,028 71,550 40,961 Storage and Transportation 2,343 1,981 8,007 5,621 Home Services and Other (678 ) 384 (63 ) (216 ) Sub-total 203,530 120,872 335,105 209,811 Eliminations 757 (60 ) 501 412 Total $ 204,287 $ 120,812 $ 335,606 $ 210,223 Net Financial Earnings (Loss) Natural Gas Distribution $ 144,531 $ 107,095 $ 211,439 $ 158,539 Clean Energy Ventures (3,958 ) (5,616 ) 44,172 4,906 Energy Services 35,301 37,644 43,134 45,475 Storage and Transportation 2,343 1,981 8,007 5,621 Home Services and Other (678 ) 384 (63 ) (216 ) Sub-total 177,539 141,488 306,689 214,325 Eliminations 757 (2,912 ) 501 (3,305 ) Total $ 178,296 $ 138,576 $ 307,190 $ 211,020 Throughput (Bcf) NJNG, Core Customers 35.7 32.9 62.9 56.3 NJNG, Off System/Capacity Management 22.1 37.1 36.5 64.3 Energy Services Fuel Mgmt. and Wholesale Sales 35.2 38.3 63.5 68.4 Total 93.0 108.3 162.9 189.0 Common Stock Data Yield at March 31, 3.7 % 3.9 % 3.7 % 3.9 % Market Price at March 31, $ 49.06 $ 42.91 $ 49.06 $ 42.91 Shares Out. at March 31, 100,303 98,745 100,303 98,745 Market Cap. at March 31, $ 4,920,847 $ 4,237,144 $ 4,920,847 $ 4,237,144 Expand Three Months Ended Six Months Ended (Unaudited) March 31, March 31, (Thousands, except customer and weather data) 2025 2024 2025 2024 NATURAL GAS DISTRIBUTION Utility Gross Margin Operating revenues $ 618,645 $ 463,201 $ 952,410 $ 756,631 Less: Natural gas purchases 275,298 206,675 405,303 325,119 Operating and maintenance (1) 29,510 29,558 55,519 55,341 Regulatory rider expense 48,501 29,229 70,977 48,418 Depreciation and amortization 35,713 27,464 67,797 54,381 Gross margin 229,623 170,275 352,814 273,372 Add: Operating and maintenance (1) 29,510 29,558 55,519 55,341 Depreciation and amortization 35,713 27,464 67,797 54,381 Total Utility Gross Margin $ 294,846 $ 227,297 $ 476,130 $ 383,094 (1) Excludes selling, general and administrative expenses of $57.8 million and $58.9 million for the six months ended March 31, 2025 and 2024, respectively. Utility Gross Margin, Operating Income and Net Income Residential $ 215,668 $ 163,495 $ 345,686 $ 271,532 Commercial, Industrial & Other 37,108 28,676 60,977 49,507 Firm Transportation 33,908 26,490 57,084 47,254 Total Firm Margin 286,684 218,661 463,747 368,293 Interruptible 800 750 1,774 1,534 Total System Margin 287,484 219,411 465,521 369,827 Basic Gas Supply Service Incentive 7,362 7,886 10,609 13,267 Total Utility Gross Margin 294,846 227,297 476,130 383,094 Operation and maintenance expense 61,257 59,554 113,351 114,259 Depreciation and amortization 35,713 27,464 67,797 54,381 Operating Income $ 197,876 $ 140,279 $ 294,982 $ 214,454 Net Income $ 144,531 $ 107,095 $ 211,439 $ 158,539 Net Financial Earnings $ 144,531 $ 107,095 $ 211,439 $ 158,539 Throughput (Bcf) Residential 24.0 21.0 38.1 34.9 Commercial, Industrial & Other 4.5 3.9 7.1 6.5 Firm Transportation 5.0 4.7 8.4 8.3 Total Firm Throughput 33.5 29.6 53.6 49.7 Interruptible 2.2 3.3 9.3 6.6 Total System Throughput 35.7 32.9 62.9 56.3 Off System/Capacity Management 22.1 37.1 36.5 64.3 Total Throughput 57.8 70.0 99.4 120.6 Customers Residential 532,699 525,391 532,699 525,391 Commercial, Industrial & Other 33,291 33,108 33,291 33,108 Firm Transportation 22,060 22,992 22,060 22,992 Total Firm Customers 588,050 581,491 588,050 581,491 Interruptible 88 83 88 83 Total System Customers 588,138 581,574 588,138 581,574 Off System/Capacity Management* 26 26 26 26 Total Customers 588,164 581,600 588,164 581,600 *The number of customers represents those active during the last month of the period. Degree Days Actual 2,375 2,135 3,774 3,543 Normal 2,384 2,436 3,907 3,970 Percent of Normal 99.6 % 87.6 % 96.6 % 89.2 % Expand
