NewJersey Resources Corporation (NJR)

Pretax 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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	374,681	296,008	291,373	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
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
Pretax margin		16.33%	13.25%	13.33%	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%

September 30, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $374,681K ÷ $2,294,073K
= 16.33%

The pretax margin of NewJersey Resources Corporation has shown an upward trend over the past few quarters, indicating an improvement in the company's profitability before accounting for taxes. The pretax margin increased from 8.57% in Dec 2019 to 16.33% in Sep 2024.

This implies that the company has been able to control its operating expenses relative to its revenue, leading to a higher proportion of income before taxes. The consistent growth in pretax margin reflects efficient cost management and/or revenue growth strategies implemented by the company.

Overall, the increasing trend in pretax margin suggests that NewJersey Resources Corporation has been able to enhance its operational efficiency and profitability performance over the analyzed periods. However, it is important to continue monitoring this ratio to ensure sustained profitability in the long term.