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Correction: New Jersey Resources Reports Q2, Reaffirms 7-9% Growth Target

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-- (Corrects headline and paragraphs 1-4 to reflect Q2 earnings and updates figures.)

New Jersey Resources (NJR) reported Q2 earnings Monday, reaffirming its Q1 multi-year growth plan targeting 7% to 9% earnings expansion, supported by a capital program of $4.8 billion to $5.2 billion through 2030.

The company is expanding its utility footprint with 594,227 customers across six New Jersey counties, NJR said.

NJR is advancing its solar platform with about 513 megawatts of installed capacity and a development pipeline of roughly 1.2 gigawatts, while it has already placed about 33 MW in service year to date in fiscal 2026, the company added.

The company reaffirmed its fiscal 2026 capital spending plans of $775 million to $930 million and fiscal 2027 plans of $870 million to $1 billion.

NJR said it is expanding storage and transportation capacity through projects such as Leaf River, which aims to increase working gas capacity by over 70% from about 32 Bcf to more than 55 Bcf, the company said.

The company is also growing midstream and infrastructure assets, including Adelphia Gateway and Steckman Ridge, while targeting long-term demand growth supported by energy services, solar expansion, and pipeline investments, it said.

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