NewJersey Resources Corporation (NJR)
Gross profit margin
Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | ||
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Gross profit (ttm) | US$ in thousands | 2,275,885 | 2,217,431 | 2,169,153 | 2,175,523 | 2,657,351 | 3,451,192 | 3,997,148 | 4,523,101 | 4,499,161 | 3,159,751 | 2,787,111 | 2,668,551 | 2,290,382 | 3,878,552 | 3,696,665 | 3,040,326 | 2,979,834 | 3,301,984 | 3,148,410 | 2,858,237 |
Revenue (ttm) | US$ in thousands | 2,294,073 | 2,234,507 | 2,186,229 | 2,192,587 | 2,674,367 | 3,468,262 | 4,014,136 | 4,540,009 | 4,515,989 | 4,164,967 | 3,884,509 | 3,766,679 | 3,389,416 | 3,981,548 | 3,708,295 | 3,052,065 | 2,991,428 | 1,955,697 | 2,090,606 | 2,344,402 |
Gross profit margin | 99.21% | 99.24% | 99.22% | 99.22% | 99.36% | 99.51% | 99.58% | 99.63% | 99.63% | 75.86% | 71.75% | 70.85% | 67.57% | 97.41% | 99.69% | 99.62% | 99.61% | 168.84% | 150.60% | 121.92% |
September 30, 2024 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $2,275,885K ÷ $2,294,073K
= 99.21%
NewJersey Resources Corporation has shown a consistent trend of high gross profit margins in recent quarters, with margins ranging from 99.21% to 99.63%. The company's ability to maintain such high levels of gross profit margin reflects strong control over production costs and efficient pricing strategies. However, there were fluctuations in the gross profit margin in the earlier quarters of 2022, dropping to 75.86%, 71.75%, and 70.85% before recovering to higher levels.
The substantial improvement in gross profit margin in the later quarters of 2022 and into 2023, reaching levels of 99.36% or higher, suggests that the company made effective adjustments to enhance profitability. The sudden spike in gross profit margin to exceptionally high levels in some periods, such as 168.84% and 150.60%, may indicate anomalies in the reporting or calculations, as it is unusual for gross profit margin to exceed 100%.
Overall, NewJersey Resources Corporation's gross profit margin performance reflects sound operational efficiency and cost management in recent quarters, with a notable recovery from the earlier dips in 2022. However, the company should continue to monitor and sustain its efforts to maintain stable and realistic levels of gross profit margin over time.
Peer comparison
Sep 30, 2024