NEW JERSEY RESOURCES CORP
For the period ended Dec 31, 2025. Filed Feb 3, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2025 · Filed Feb 3, 2026
NJR$54.39+0.1%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Glossary of Key Terms
| Adelphia | Adelphia Gateway, LLC |
|---|---|
| ADI | Administratively Determined Incentive |
| AMA | Asset Management Agreement |
| Adjusted EBITDA | A non-GAAP financial measure, which represents net income, including equity in earnings of affiliates, before interest, income taxes, depreciation and amortization, and other income, net, which includes non-cash earnings of Allowance for Funds Used During Construction |
| ASC | Accounting Standards Codification |
| ASU | Accounting Standards Update |
| B | Billion |
| Bcf | Billion Cubic Feet |
| BGSS | Basic Gas Supply Service |
| BPU | New Jersey Board of Public Utilities |
| CIP | Conservation Incentive Program |
| Clean Energy Ventures or CEV | NJR Clean Energy Ventures Corporation or our Clean Energy Ventures segment |
| CME | Chicago Mercantile Exchange |
| CODM | Chief Operating Decision Maker |
| CSI | Competitive Solar Incentive |
| DRP | NJR Direct Stock Purchase and Dividend Reinvestment Plan |
| Dths | Dekatherms |
| Energy Services or ES | NJR Energy Services Company, LLC or our Energy Services segment |
| Exchange Act | Securities Exchange Act of 1934, as amended |
| FASB | Financial Accounting Standards Board |
| FCM | Futures Commission Merchant |
| FERC | Federal Energy Regulatory Commission |
| Financial Margin | A non-GAAP financial measure, which represents revenues earned from the sale of natural gas less costs of natural gas sold including any transportation and storage costs, and excludes certain operations and maintenance expense and depreciation and amortization, as well as any accounting impact from the change in the fair value of certain derivative instruments |
| Fitch | Fitch Ratings Company |
| FMB | First Mortgage Bond |
| GAAP | Generally Accepted Accounting Principles in the United States |
| Home Services and Other or HSO | Home Services and Other Operations |
| ICE | Intercontinental Exchange |
| IIP | Infrastructure Investment Program |
| Inflation Reduction Act | Inflation Reduction Act of 2022 |
| IRS | Internal Revenue Service |
| ISDA | The International Swaps and Derivatives Association |
| ITC | Federal Investment Tax Credit |
| Leaf River | Leaf River Energy Center LLC |
| M | Million |
| MGP | Manufactured Gas Plant |
| MMBtu | Million British Thermal Units |
| Moody's | Moody's Investors Service, Inc. |
| Mortgage Indenture | The Amended and Restated Indenture of Mortgage, Deed of Trust and Security Agreement between NJNG and U.S. Bank National Association dated as of September 1, 2014, as amended |
| MW | Megawatts |
| GLOSSARY OF KEY TERMS (cont.) | |
|---|---|
| MWh | Megawatt Hour |
| NAESB | The North American Energy Standards Board |
| NFE | Net Financial Earnings |
| NJCEP | New Jersey's Clean Energy Program |
| NJDEP | New Jersey Department of Environmental Protection |
| NJNG | New Jersey Natural Gas Company or our Natural Gas Distribution segment |
| NJNG Credit Facility | The $250M unsecured committed credit facility expiring in August 2029 |
| NJR Credit Facility | The $575M unsecured committed credit facility expiring in August 2029 |
| NJR or The Company | New Jersey Resources Corporation |
| NJRHS | NJR Home Services Company |
| Non-GAAP | Not in accordance with Generally Accepted Accounting Principles of the United States |
| NPNS | Normal Purchase/Normal Sale |
| NYMEX | New York Mercantile Exchange |
| O&M | Operation and Maintenance expenses |
| OBBBA | The One Big Beautiful Bill Act |
| OPEB | Other Postemployment Benefit Plans |
| PPA | Power Purchase Agreement |
| RAC | Remediation Adjustment Clause |
| REC | Renewable Energy Certificate |
| SBC | Societal Benefits Charge |
| SEC | Securities and Exchange Commission |
| SG&A | Selling, General and Administrative expenses |
| SREC | Solar Renewable Energy Certificate |
| Steckman Ridge | Collectively, Steckman Ridge GP, LLC and Steckman Ridge, LP |
| Storage and Transportation or S&T | Storage and Transportation segment |
| TETCO | Texas Eastern Transmission |
| TREC | Transition Renewable Energy Certificate |
| Trustee | U.S. Bank National Association |
| U.S. | The United States of America |
| USF | Universal Service Fund |
| Utility Gross Margin | A non-GAAP financial measure, which represents operating revenues less natural gas purchases, sales tax, and regulatory rider expense, and excludes certain operations and maintenance expense and depreciation and amortization |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.