NewJersey Resources Corporation (NJR)

Operating 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
Operating income (ttm)	US$ in thousands	370,030	407,000	423,613	448,688	422,379	406,475	328,687	271,422	333,755	288,350	325,094	335,703	232,978	226,116	178,464	191,292	169,810	153,935	143,382	110,686
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
Operating profit margin		16.88%	15.22%	12.21%	11.18%	9.30%	9.00%	7.89%	6.99%	8.86%	8.51%	8.17%	9.05%	7.63%	7.56%	9.13%	9.15%	7.24%	6.05%	5.27%	3.89%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $370,030K ÷ $2,192,587K
= 16.88%

The operating profit margin of New Jersey Resources Corporation has shown a consistent upward trend over the past eight quarters, reflecting an improvement in the company's operational efficiency and profitability. The margin has increased steadily from 10.91% in Q2 2022 to 21.68% in Q1 2024, indicating a positive trajectory in the company's ability to generate profits from its core business operations. This improvement suggests that the company has been able to control its operating expenses and enhance its revenue generation strategies. Overall, the increasing trend in operating profit margin is a positive indicator of New Jersey Resources Corporation's financial performance and management effectiveness.