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N New Jersey Resources News Release 1415 Wyckoff Road P. O. Box 1464 Wall , NJ 07719 Media Contact : Michael Kinney 732-938-1031 mkinney@njresources.com Investor Contact : Dennis Puma 732-938-1229 dpuma@njresources.com NEW JERSEY RESOURCES REPORTS THIRD - QUARTER FISCAL 2021 RESULTS WALL , N.J. , August 5 , 2021 - Today , New Jersey Resources ( NYSE : NJR ) reported results for the third - quarter of fiscal 2021. Highlights include : • Consolidated net loss of $ ( 111.8 ) million , including a $ 72.7 million after - tax impairment charge related to NJR's investment in the PennEast Project , compared with $ ( 19.3 ) million in the third quarter of fiscal 2020 Consolidated net financial loss , a non - GAAP financial measure which excludes the PennEast impairment , of $ ( 14.1 ) million , or $ ( 0.15 ) per share , compared with net financial earnings ( NFE ) of $ 2.7 million , or $ 0.03 per share , in the same period last year Increased NFE per share ( NFEPS ) guidance for fiscal 2021 to a range of $ 2.10 to $ 2.20 The Southern Reliability Link ( SRL ) is expected to be placed in service in August 2021 On March 30th , New Jersey Natural Gas ( NJNG ) filed a rate case with the New Jersey Board of Public Utilities ( BPU ) , and in July , updated the filing seeking a $ 163.9 million increase in base rates Adelphia Gateway received a Notice to Proceed from FERC for the construction of laterals and interconnects in the South Zone of the project Third - quarter fiscal 2021 net loss totaled $ ( 111.8 ) million , or $ ( 1.16 ) per share , compared with $ ( 19.3 ) million , or $ ( 0.20 ) per share , during the same period in fiscal 2020. Fiscal 2021 year - to - date net income totaled $ 119.0 million , or $ 1.24 per share , compared with $ 130.3 million , or $ 1.38 per share , for the same period in fiscal 2020 . Third - quarter fiscal 2021 net financial loss totaled $ ( 14.1 ) million , or $ ( 0.15 ) per share , compared to NFE of $ 2.7 million , or $ 0.03 per share , during the same period in fiscal 2020. Fiscal 2021 year - to - date NFE totaled $ 201.1 million , or $ 2.09 per share , compared with $ 121.9 million , or $ 1.29 per share , for the same period in fiscal 2020 . The difference between GAAP earnings and NFE is due primarily to a $ 92.0 million impairment charge ( $ 72.7 million after considering the tax effect ) related to NJR's investment in the PennEast Project , which is excluded from NFE . " NJR's performance this fiscal year , led by the impressive results from Energy Services , has allowed us to outperform our expectations and we are increasing our fiscal 2021 NFEPS guidance to a range of $ 2.10 to $ 2.20 per share , " said Steve Westhoven , President and CEO of New Jersey Resources . " We remain committed to executing on our long - term strategy and delivering value to our shareowners . " Key Performance Metrics ( $ in Thousands ) Net income ( loss ) Basic EPS Three Months Ended June 30 , Nine Months Ended June 30 , 2021 2020 2021 2020 $ ( 111,831 ) $ ( 19,298 ) $ 119,023 $ ( 1.16 ) $ ( 0.20 ) $ 1.24 $ 1.38 $ 130,300 Net financial earnings ( loss ) $ ( 14,148 ) $ Basic net financial earnings ( loss ) per share $ ( 0.15 ) $ 2,682 0.03 $ 201,113 $ 121,904 $ 2.09 $ 1.29