NewJersey Resources Corporation (NJR)

Gross profit margin

		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	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	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	2,519,209	447,806	-178,317
Revenue (ttm)	US$ in thousands	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	2,542,837	2,721,864	2,844,092
Gross profit margin		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%	99.07%	16.45%	-6.27%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $2,175,523K ÷ $2,192,587K
= 99.22%

The gross profit margin of New Jersey Resources Corporation has shown a positive trend over the past few quarters, indicating an improvement in the company's ability to generate profits from its core business activities. The gross profit margin increased from 31.84% in Q2 2022 to 57.06% in Q1 2024, demonstrating a steady and significant growth. This suggests that the company has been effectively managing its production costs and pricing strategies to enhance profitability. The consistent improvement in gross profit margin reflects positively on the company's operational efficiency and competitive position within its industry.