New Jersey Natural Gas Company operates as a natural gas distribution company that provides regulated retail natural gas services to residential and commercial customers in central and northern New Jersey. The company also participates in the off-system sales and capacity release markets. It owns approximately 6,990 miles of distribution main, 7,000 miles of service main, 226 miles of transmission main, and approximately 518,000 meters. In addition, the company owns and operates 2 LNG storage plants in Stafford Township, Ocean County, and Howell Township, Monmouth County with an aggregate estimated capacity of approximately 170,000 dths per day. New Jersey Natural Gas Company serves approxim...
1415 Wyckoff Road
Wall, NJ 07719
New Jersey Natural Gas Reports Unaudited Earnings and Operating Results for the Third Quarter and Nine Months Ended June 30, 2014; Provides Earnings Guidance for the Fiscal 2014 and 2015
Jul 31 14
New Jersey Natural Gas reported unaudited earnings and operating results for the third quarter and nine months ended June 30, 2014. For the quarter, the company reported net financial earnings of $4,882,000 against $5,528,000 a year ago. The lower results in the third quarter were due primarily to higher operations and maintenance expenses and a higher effective tax rate, which more than offset higher gross margin from incentive programs. Operating income was $13,045,000 against $10,339,000 a year ago. Operating revenues were $111,383,000 against $119,022,000 a year ago.
For the nine months, the company reported net financial earnings of $79,564,000 against $76,937,000 a year ago. The improved year-to-date results were driven by higher utility gross margin from customer additions, incentive programs and regulatory initiatives, as well as the continued impact of accelerated infrastructure investments. Operating income was $132,400,000 against $124,438,000 a year ago. Operating revenues were $739,380,000 against $689,621,000 a year ago.
For the quarter, the company reported total throughput of 65.4 Bcf against 42.1 Bcf a year ago.
For the nine months, the company reported total throughput of 194.1 Bcf against 167.3 Bcf a year ago.
The company expects fiscal 2014 net financial earnings of 40% to 50%.
The company expects fiscal 2015 net financial earnings of 60% to 70%.
New Jersey Natural Gas Company Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended March 31, 2014; Provides Earnings Guidance for the Year 2014 and 2015
May 7 14
New Jersey Natural Gas Company reported unaudited earnings results for the second quarter and six months ended March 31, 2014. For the quarter, the company reported net financial earnings of USD 47.043 million compared to USD 45.917 million a year ago. Operating income was USD 74.052 million compared to USD 71.355 million a year ago.
For the six months, the company reported net financial earnings of USD 74.687 million compared to USD 71.409 million a year ago. Operating income was USD 119.355 million compared to USD 114.099 million a year ago.
The company expected earnings guidance for the year 2014 and 2015. For the year 2014, the company expects net financial earnings 45% to 50%.
For the year 2015, the company expects net financial earnings 60% to 70%.
New Jersey Natural Gas Company Reports Earnings Results for the First Quarter Ended December 31, 2013
Feb 6 14
New Jersey Natural Gas Company reported earnings results for the first quarter ended December 31, 2013. For the quarter, the company has reported net financial earnings of $27,639,000 against $25,492,000 a yea ago. The increase was due to steady growth from customer additions, higher utility gross margin from incentive programs, The SAVEGREEN Project(R) and the impact of customers who had been curtailed in fiscal 2013 due to Superstorm Sandy returning to service in fiscal 2014.