New Jersey Resources Corp. (NJR) lifted its fiscal 2014 earnings forecast to a range of $4.00 -$4.20 per basic share, from the previous guidance range of $3.90 - $4.10 per basic share. The firm said the increase in guidance is primarily due to continued better-than-anticipated results at NJR Energy Services or NJRES and strong results at its regulated utility, New Jersey Natural Gas or NJNG.
For the third quarter, the company expects earnings per share to lie between $0.05 and $0.15 and estimates a loss per share between $0.50 and $0.60 in the fourth quarter of fiscal 2014. The projected loss in the fourth quarter is due to the seasonal nature of NJRES and NJNG's businesses and higher discretionary expenses, including the estimated impact of a voluntary early retirement program.
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