新泽西能源 2025年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedJune30, 2025OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromto Commission File Number:001-08359 NEW JERSEY RESOURCES CORPORATION (Exact name of registrant as specified in its charter) New Jersey(State or other jurisdiction of incorporation or organization) 22-2376465(I.R.S. Employer Identification Number) 1415 Wyckoff RoadWallNew Jersey07719(Address of principal executive offices) Securities registered pursuant to Section 12 (b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and(2) has been subject to such filing requirements for the past 90 days.☒☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required tosubmit such files).☒☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reportingcompany,” and “emerging growth company” in Rule 12b‑2 of the Exchange Act. Large accelerated filer☒Non-accelerated filer☐ Accelerated filerSmaller reporting companyEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.o Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).☐☒ The number of shares outstanding of $2.50 par value Common Stock as of August1, 2025 was100,451,372. New Jersey Resources Corporation TABLE OF CONTENTS New Jersey Resources Corporation New Jersey Resources Corporation New Jersey Resources Corporation INFORMATION CONCERNING FORWARD-LOOKING STATEMENTS Certain statements contained in this report, including, without limitation, statements as to management expectations, assumptions and beliefs presented in PartI, Item 2. “Management's Discussion and Analysis of Financial Condition and Results of Operations,” Part I, Item 3. “Quantitative and Qualitative DisclosuresAbout Market Risk,” Part II, Item 1. “Legal Proceedings” and in the notes to the financial statements are forward-looking statements within the meaning of Section27A of the Securities Act of 1933, as amended, Section 21E of the Exchange Act and the Private Securities Litigation Reform Act of 1995. Forward-lookingstatements can also be identified by the use of forward-looking terminology such as “anticipate,” “estimate,” “may,” “could,” “might,” “intend,” “expect,”“believe,” “will” “plan,” “should” or comparable terminology and are made based upon management's current expectations, assumptions and beliefs as of this dateconcerning future developments and their potential effect on us. There can be no assurance that future developments will be in accordance with management'sexpectations, assumptions or beliefs, or that the effect of future developments on us will be those anticipated by management. We caution readers that the expectations, assumptions and beliefs that form the basis for forward-looking statements regarding customer growth, customerusage, qualifications for ITCs, RECs, future rate case proceedings, financial condition, results of operations, cash flows, capital requirements, future capitalexpenditures, market risk, effective tax rate and other matters for fiscal 2025 and thereafter are subject to many factors that are beyond our ability to control orestimate precisely, such as estimates of future market conditions, the behavior of other market participants and changes in the debt and equity capital markets. Thefactors that could cause actual results to differ materially from our expectations, assumptions and beliefs include, but are not limited to, those discussed in Item 1A.Risk Factors of our Annual Report onForm 10-Kfor the fiscal year ended September30, 2024, as well as the following, which are neither presented in order ofimportance nor weighted: •our ability to obtain governmental and regulatory approvals, permits, certificates, land-use rights, electric grid connection (in the case of clean energy projects)and/or financing for the construction, development and operation of our unregulated energy investments, pipeline transportation systems and NJNG and S&Tinfrastructure projects, in a timely manner;•our abi