Q1 2021 New Jersey Resources Corp Earnings Call

Good morning, My name is Matt and I will be your conference operator today at this time I would like to welcome everyone to the N J, our first quarter fiscal 2021 conference call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. If you'd like to ask a question. During this time.

Press Star followed by the number one on your telephone keypad, if you'd like to withdraw your question Press Star followed by two.

I will turn the conference over to Dennis Puma Director of Investor Relations you May begin your conference.

Okay. Thank you Matt Good morning, everyone welcome to New Jersey resources first quarter fiscal 'twenty, One conference call and webcast.

Im joined here today by Steve West Zone on our President and CEO Pat.

Pat Migliaccio, our Chief financial Officer, as well as other members of our senior management team.

As you know certain statements in today's call contain estimates and other forward looking statements within the meaning of the securities laws.

We wish to caution listeners on this call that the current expectations assumptions and beliefs, forming the basis for our forward. Looking statements include many factors that are beyond our ability to control or estimate precisely.

This could cause results to materially differ from our expectations.

And on slide one.

Is that a <unk> can also be found on our forward looking statements section of today's earnings release furnished on form 8-K.

And in our most recent forms 10-K, and Q as filed with the SEC.

We do not by including the statement assume any obligation to review or revise any particular forward looking statements referenced herein in light of future events.

We will also be referring to certain non-GAAP financial measures, such as net financial earnings or NFC.

We believe that NFC provides a more complete understanding of our financial performance.

However, it is not intended to be a substitute for GAAP.

Non-GAAP financial measures are discussed more fully in items seven of our 10-K.

Our agenda for today is found on slide two Steve will begin today's call with highlights from the quarter, followed by Pat who will review our financial results.

Then we'll open the call up to your questions.

The slides accompanying today's presentation are available on our website and will also furnished on our form 8-K filed this morning with that said I'd like to turn the call over to our President and CEO, Steve Letwin Steve.

Thanks, Dennis and good morning, everyone. Thank you for joining us today.

New Jersey resources delivered strong performance in the first quarter and on slide three I'll take you through the highlights.

We reported <unk> 46 per share driven by the performance of our core business in New Jersey natural gas.

We are also reaffirming our <unk> guidance for fiscal 2021 of $1 55 to $1 65 per share and increasing our fiscal 2022 guidance to $2 20 to $2 30 per share an increase of <unk> 15 per share from prior guidance.

I think Jersey natural gas, we completed almost 90% of the southern reliability link and expect to place the project into service this year.

We received approval to move forward with our infrastructure investment program, a five year $150 million accelerated recovery program that will improve the resiliency and reliability of our natural gas infrastructure and we filed per Se, we filed for safe Green 2020, and new energy efficiency program that is designed to help our cash.