NEW JERSEY RESOURCES CORP
For the period ended Mar 31, 2026. Filed May 5, 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.
Mar 31, 2026 · Filed May 5, 2026
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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, 2026
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 jurisdiction of incorporation or organization) | (I.R.S. Employer Identification Number) | ||||
| 1415 Wyckoff Road | (732) | 938‑1480 | |||
| Wall | New Jersey | 07719 | (Registrant's telephone number, including area code) | ||
| (Address of principal executive offices) | |||||
| Securities registered pursuant to Section 12 (b) of the Act: | |||||
| Title of each class | Trading symbol(s) | Name of each exchange on which registered | |||
| Common Stock - $2.50 Par Value | NJR | New York Stock Exchange | |||
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes:☒ No:☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Yes:☒ No:☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b‑2 of the Exchange Act.
| Large accelerated filer | ☒ | Accelerated filer | ☐ |
|---|---|---|---|
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ |
| Emerging growth company | ☐ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes:☐ No:☒
The number of shares outstanding of $2.50 par value Common Stock as of May 1, 2026 was 100,921,573.
TABLE OF CONTENTS
| Page | |||
|---|---|---|---|
| Glossary of Key Terms | 1 | ||
| Information Concerning Forward-Looking Statements | 3 | ||
| PART I. FINANCIAL INFORMATION | |||
| ITEM 1. | Unaudited Condensed Consolidated Financial Statements | 4 | |
| Notes to Unaudited Condensed Consolidated Financial Statements | 9 | ||
| Note 1. Nature of the Business | 9 | ||
| Note 2. Summary of Significant Accounting Policies | 9 | ||
| Note 3. Revenue | 10 | ||
| Note 4. Regulation | 15 | ||
| Note 5. Derivative Instruments | 17 | ||
| Note 6. Fair Value | 21 | ||
| Note 7. Investments in Equity Investees | 23 | ||
| Note 8. Earnings Per Share | 23 | ||
| Note 9. Debt | 24 | ||
| Note 10. Employee Benefit Plans | 24 | ||
| Note 11. Income Taxes | 25 | ||
| Note 12. Leases | 26 | ||
| Note 13. Commitments and Contingent Liabilities | 28 | ||
| Note 14. Reportable Segment and Other Operations Data | 29 | ||
| Note 15. Related Party Transactions | 32 | ||
| Note 16. Dispositions | 33 | ||
| ITEM 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations | 34 | |
| Natural Gas Distribution Segment | 37 | ||
| Clean Energy Ventures Segment | 45 | ||
| Energy Services Segment | 48 | ||
| Storage and Transportation Segment | 51 | ||
| Home Services and Other Business Operations | 53 | ||
| Liquidity and Capital Resources | 53 | ||
| ITEM 3. | Quantitative and Qualitative Disclosures About Market Risk | 59 | |
| ITEM 4. | Controls and Procedures | 61 | |
| PART II. OTHER INFORMATION | |||
| ITEM 1. | Legal Proceedings | 62 | |
| ITEM 1A. | Risk Factors | 62 | |
| ITEM 2. | Unregistered Sale of Equity Securities and Use of Proceeds | 62 | |
| ITEM 5. | Other Information | 62 | |
| ITEM 6. | Exhibits | 63 | |
| Signatures | 64 | ||
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