New Jersey Resources(NJR)

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New Jersey Resources(NJR) - 2021 Q1 - Quarterly Report
2021-02-04 22:18
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-08359 NEW JERSEY RESOURCES CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpora ...
New Jersey Resources(NJR) - 2020 Q4 - Annual Report
2020-11-30 20:51
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-08359 NEW JERSEY RESOURCES CORPORATION (Exact name of registrant as specified in its charter) New Jersey 22-2376465 (I.R.S. Employer Identifica ...
New Jersey Resources(NJR) - 2020 Q3 - Quarterly Report
2020-08-08 01:00
Financial Performance - Total operating revenues for the three months ended June 30, 2020, were $298,974,000, a decrease of 31.2% compared to $434,942,000 in the same period of 2019[17] - Net loss for the three months ended June 30, 2020, was $(27,219,000), compared to a net loss of $(8,402,000) in the same period of 2019[18] - Operating expenses for the nine months ended June 30, 2020, totaled $1,377,103,000, down from $1,951,239,000 in the same period of 2019, reflecting a decrease of 29.5%[17] - The company reported a basic earnings per share of $(0.28) for the three months ended June 30, 2020, compared to $(0.09) for the same period in 2019[17] - The company reported a net income of $89,361 thousand for the period, a decrease from $88,505 thousand in the previous quarter[28] - For the three months ended June 30, 2020, the company reported a net income of $(27,219) thousand, compared to $(8,402) thousand for the same period in 2019, resulting in a basic earnings per share of $(0.28) compared to $(0.09) in 2019[162] - For the nine months ended June 30, 2020, the company reported a net income of $150,647 thousand, slightly down from $151,419 thousand in 2019, with a basic earnings per share of $1.60 compared to $1.70 in 2019[162] Cash Flow and Assets - Cash flows from operating activities for the nine months ended June 30, 2020, were $182,783,000, compared to $165,790,000 in the same period of 2019, an increase of 10.1%[21] - Total assets as of June 30, 2020, were $5,282,084,000, an increase from $4,372,985,000 as of September 30, 2019[24] - Cash and cash equivalents at the end of the period were $45,245,000, up from $26,688,000 at the end of the same period in 2019[22] - Customer accounts receivable increased to $143,059,000 as of June 30, 2020, from $139,263,000 as of October 1, 2019, representing a growth of approximately 2.6%[95] - Unbilled customer accounts receivable rose to $8,738,000 as of June 30, 2020, compared to $6,510,000 as of October 1, 2019, indicating an increase of about 34%[95] - Total current regulatory assets increased to $52,251,000 as of June 30, 2020, from $32,871,000 as of September 30, 2019, reflecting a growth of approximately 59%[100] Debt and Liabilities - Current liabilities totaled $902,259 thousand, significantly higher than $446,377 thousand in the prior year, representing an increase of approximately 102%[26] - Long-term debt stood at $1,664,517 thousand, compared to $1,537,177 thousand in the previous year, marking an increase of about 8.3%[26] - The total current maturities of long-term debt increased to $25,954 thousand from $21,419 thousand, an increase of about 21.5%[26] - Regulatory liabilities for the Tax Act impact were recorded at $196,705,000 as of June 30, 2020, slightly down from $200,417,000 as of September 30, 2019[100] Investments and Capital Expenditures - The company plans to continue investing in utility and solar equipment, with expenditures of $213,667,000 and $110,968,000 respectively for the nine months ended June 30, 2020[21] - The company issued common stock worth $212,900 thousand through a common stock offering during the reporting period[28] - The company holds a 20% investment in PennEast, which aims to construct a 120-mile natural gas pipeline, with a total investment of $92.9 million as of June 30, 2020[154] Revenue Recognition - Revenues from contracts with customers for the nine months ended June 30, 2020, totaled $712.554 million, compared to $678.077 million in 2019, indicating an increase of approximately 5.1%[94] - Revenue from natural gas utility sales is recognized in the period that gas is delivered and consumed, including estimates for unbilled revenue[83] - Clean Energy Ventures recognizes revenue as electricity is generated and transferred to the customer, with payment due monthly for the previous month's services[83] - The performance obligation for Energy Services includes providing transportation, storage, and asset management services, with revenue recognized based on actual deliveries[83] Regulatory and Tax Matters - NJNG's base rate increase approved by the BPU on November 13, 2019, amounted to $62.2 million, effective November 15, 2019, with an overall rate of return on rate base of 6.95%[101] - NJNG filed for a base rate increase of approximately $7.1 million based on $55.1 million of actual capital investments as of June 30, 2020, anticipated to be effective October 1, 2020[102] - The company recorded a tax benefit of approximately $10 million due to a favorable IRS ruling regarding the capitalization of costs associated with self-constructed property[185] - The Company had ITC carryforwards of approximately $184.7 million as of June 30, 2020, with an expected utilization beginning in fiscal 2034[193] Lease Obligations - As of June 30, 2020, total lease assets amount to $174.014 million, with operating lease assets at $101.657 million and finance lease assets at $72.357 million[211] - Total lease liabilities are $178.165 million, consisting of current operating lease liabilities of $4.458 million and noncurrent operating lease liabilities of $96.118 million[211] - The weighted average remaining lease term for operating leases is 27.3 years, while for finance leases it is 2.37 years[211] - Future minimum lease payments for operating leases total $153.677 million, with the largest portion due thereafter at $126.331 million[213]
New Jersey Resources(NJR) - 2020 Q2 - Quarterly Report
2020-05-08 22:37
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-08359 NEW JERSEY RESOURCES CORPORATION (Exact name of registrant as specified in its charter) New Jersey 22-2376465 (State or other jurisd ...
New Jersey Resources(NJR) - 2020 Q1 - Quarterly Report
2020-02-06 22:30
UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Exact name of registrant as specified in its charter) New Jersey 22-2376465 Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-08359 NEW JERSEY RESOURCES CORPORATION (State or other jur ...
New Jersey Resources(NJR) - 2019 Q4 - Annual Report
2019-11-22 21:24
For the transition period from to UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-08359 NEW JERSEY RESOURCES CORPORATION (Exact name of registrant as specified in its charter) New Jersey 22-2376465 (State or other jurisdictio ...
New Jersey Resources(NJR) - 2019 Q3 - Quarterly Report
2019-08-06 21:16
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-08359 NEW JERSEY RESOURCES CORPORATION (Exact name of registrant as specified in its charter) New Jersey 22-2376465 If an emerging growth c ...
New Jersey Resources(NJR) - 2019 Q2 - Quarterly Report
2019-05-03 20:35
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10‑Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001‑08359 NEW JERSEY RESOURCES CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporatio ...
New Jersey Resources(NJR) - 2019 Q1 - Quarterly Report
2019-02-06 21:14
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10‑Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED DECEMBER 31, 2018 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission file number 001‑08359 NEW JERSEY RESOURCES CORPORATION (Exact name of registrant as specified in its charter) New Jersey 22‑2376465 (State or other juri ...