FOLSOM, NJ , Nov. 02, 2022 (GLOBE NEWSWIRE) —
| Investor Contact: | |
| Daniel Fidell | |
| 609-561-9000 x7027 | |
| dfidell@sjindustries.com | |
| Media Contact: | |
| Dominick DiRocco | |
| 609-561-9000 x4262 | |
| ddirocco@sjindustries.com |
SJI Reports Third Quarter 2022 Results
Acquisition Proceeding on Track
FOLSOM, NJ (November 2, 2022) – SJI SJI today reported operating results for the third quarter ended September 30, 2022. Highlights include:
- Q3 2022 GAAP earnings $(0.31) per diluted share compared to $(0.23) per diluted share in 2021 Economic Earnings* $(0.18) per diluted share compared to $(0.17) per diluted share in 2021
- YTD 2022 GAAP earnings $0.59 per diluted share compared to $0.06 per diluted share in 2021 Economic Earnings $1.08 per diluted share compared to $1.02 per diluted share in 2021
- YTD Economic EPS improvement reflects increased profitability from both Utility and Non-Utility operations and the impact of financing activities
- Acquisition by IIF — Transaction proceeding on track with requisite approvals; NJBPU review underway
- Regulatory Initiatives — ETG base rate case completed in August; SJG base rate case proceeding on schedule
- RNG Production — ten dairy farms under development; Expected in-service in 2023
“Our businesses have performed very well in 2022, and we remain on track to achieve our goals for the year,” said Mike Renna, SJI President and Chief Executive Officer. “Our regulatory initiatives and clean energy investments targeting enhanced infrastructure safety, reliability and decarbonization continue to advance. And our acquisition by IIF continues to secure requisite approvals. We look forward to the start of a new chapter for SJI in 2023, alongside our experienced partners at IIF, and ever dedicated to our mission of providing exceptional service to the more than 700,000 New Jersey customers we are honored to serve every day,” added Renna.
| Three Months Ended September 30, 2022 | Three Months Ended September 30, 2021 | |||||||||||||||||||||||||
| GAAP | GAAP | Economic | Economic | GAAP | GAAP | Economic | Economic | |||||||||||||||||||
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