Recent Updates — NJR
New Jersey Resources Corporation entered into a third amendment to its Second Amended and Restated Credit Agreement, increasing the aggregate revolving credit commitments from $575 million to $650 million and extending the maturity date to October 27, 2031. Its subsidiary NJNG also amended its credit agreement, extending the maturity date to October 27, 2031, while maintaining $250 million in revolving commitments. New Jersey Resources Corporation operates as a diversified energy company providing natural gas and electric utility services.
New Jersey Natural Gas Company, a wholly-owned subsidiary of New Jersey Resources Corporation, issued and sold $50,000,000 of its 5.43% Senior Notes, Series 2026C, due October 22, 2036, in a private placement to institutional investors on October 22, 2026. The notes are secured by an equal principal amount of NJNG’s First Mortgage Bonds and will be used for general corporate purposes, including refinancing short-term debt and funding capital expenditures. Interest accrues at 5.43% per annum, payable semi-annually on April 22 and October 22, beginning in April 2027. New Jersey Resources Corporation is not directly obligated with respect to the notes. The company operates as a diversified energy services holding company.
New Jersey Resources Corporation's wholly-owned subsidiary, New Jersey Natural Gas Company (NJNG), entered into a Note Purchase Agreement to issue $150 million in aggregate principal amount of senior notes secured by NJNG’s First Mortgage Bonds. The issuance consists of three series: $50 million of 5.43% Senior Notes due August 20, 2036 (Series A) and $50 million of 6.04% Senior Notes due August 20, 2056 (Series B), both closing on August 20, 2026; and $50 million of 5.43% Senior Notes due October 22, 2036 (Series C), expected to close on that date. Proceeds will fund general corporate purposes, including refinancing short-term debt and capital expenditures. NJR is not directly obligated for the notes. New Jersey Resources Corporation operates as a diversified energy company providing natural gas distribution and other utility services.
New Jersey Resources reported fiscal 2026 third-quarter net income of $9.7 million, or $0.10 per share, compared to a net loss of $(15.1) million in the prior year period. Year-to-date net income totaled $351.1 million, or $3.48 per share. The company tightened its fiscal 2026 net financial earnings per share guidance to a range of $3.52 to $3.62 from $3.48 to $3.63. Capital expenditures for the first nine months were $553.0 million, with an expected full-year range of $815 million to $950 million. The company operates in the diversified energy infrastructure and energy services industry.