NewJersey Resources Corporation (NJR)

Pretax 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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	277,447	313,999	337,425	373,885	357,897	351,117	278,891	130,788	194,809	151,176	210,514	315,065	216,329	210,066	204,668	220,390	200,881	187,945	117,326	84,861
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
Pretax margin		12.65%	11.74%	9.73%	9.31%	7.88%	7.77%	6.70%	3.37%	5.17%	4.46%	5.29%	8.50%	7.09%	7.02%	10.47%	10.54%	8.57%	7.39%	4.31%	2.98%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $277,447K ÷ $2,192,587K
= 12.65%

The pretax margin of New Jersey Resources Corporation has shown a positive trend over the past eight quarters, indicating the company's ability to generate profits before taxes relative to its total revenue. The pretax margin has consistently increased from 5.26% in Q2 2022 to 16.26% in Q1 2024, signifying a significant improvement in the company's profitability. This steady growth reflects effective cost management and revenue generation strategies implemented by the company. Additionally, the pretax margin surpassing 10% in the most recent quarters suggests a healthy financial performance and operational efficiency within the organization. Overall, the upward trajectory of the pretax margin indicates a positive financial outlook for New Jersey Resources Corporation.