NEW JERSEY RESOURCES CORP
For the period ended Mar 31, 2025. Filed May 6, 2025.
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Mar 31, 2025 · Filed May 6, 2025
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Home Services and Other Business Operations
Home Services and Other
The financial results of HSO consist primarily of the operating results of NJRHS. NJRHS provides service, sales and installation of appliances to service contract customers and has been focused on growing its installation business and expanding its service contract customer base. HSO also includes organizational expenses incurred at NJR.
The condensed financial results of HSO are summarized as follows:
| Three Months Ended · Six Months Ended | ||||
|---|---|---|---|---|
| March 31, | March 31, | |||
| (Thousands) | 2025 | 2024 | 2025 | 2024 |
| Operating revenues | $15,118 | $14,905 | $30,912 | $29,739 |
| Operation and maintenance | $15,361 | $13,856 | $29,883 | $28,669 |
| (Loss) income before income taxes | $(324) | $904 | $760 | $252 |
| Income tax provision | 354 | 520 | 823 | 468 |
| Net (loss) income | $(678) | $384 | $(63) | $(216) |
Part I
Net loss increased approximately $1.1M during the three months ended March 31, 2025, compared with the three months ended March 31, 2024, due primarily to higher O&M at Home Services resulting from higher employee expenses.
Net loss remained relatively flat during the six months ended March 31, 2025, compared with the six months ended March 31, 2024.
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