- At first glance, New Jersey Resources' results appear to throw doubt on the fact that utilities tend to be relatively stable entities.
- We may be seeing some of the impact of the pandemic here as many people are still unemployed and unable to pay their utility bills.
- Overall, profits were up somewhat and profits matter more than revenues do.
- The company is going to continue to improve its infrastructure, which should provide it with steady growth going forward.
- New Jersey Resources failed to generate enough cash to cover its dividend, so we need to keep an eye on this.
For further details see:
New Jersey Resources: Latest Results Show More Stability Than You Might Think