05:20 PM EST, 11/25/2024 (MT Newswires) -- New Jersey Resources ( NJR ) reported fiscal Q4 earnings late Monday of $0.91 per diluted share, up from $0.38 a year earlier.

Analysts polled by FactSet, on average, expected $0.88.

Revenue for the quarter ended Sept. 30 was $395.8 million, compared with $331.3 million a year earlier.

One Analyst expected $407 million.

For 2025, the utility company is projecting EPS of $3.05 to $3.20.

Analysts are looking for $2.89.

Separately, the company said its Clean Energy Ventures unit has sold its residential solar portfolio to Spruce Power Holding ( SPRU ) for $132.5 million.

New Jersey Resources ( NJR ) anticipates generating a profit from the sale in the fiscal 2025 and plans to allocate the funds towards reducing the company's overall debt and for general working capital purposes.