Overview
New Jersey Resources Corporation (NJR) is a U.S.-based energy holding company whose core business is regulated natural-gas distribution, complemented by clean-energy investments and energy-related services. Its businesses include New Jersey Natural Gas, Clean Energy Ventures, Energy Services, Storage and Transportation, and Home Services and Other Operations.[1][2][3][4][5][6]
NJR’s utility serves customers in six New Jersey counties. Its other operations include clean-energy projects, natural-gas storage and transportation, wholesale energy services, and home heating, ventilation and air-conditioning services. The company’s stated commitments emphasize safe, reliable service, value for shareowners, stronger communities, and contributing to a clean-energy future.[2][4][5][7]
For fiscal 2025, NJR reported approximately $2.04 billion in revenue; its investor materials describe a workforce of more than 1,300 employees. The revenue figure is for the year ended September 30, 2025.[8][9] [1][2][3][4][5][6][7][8][9]
Products & services
New Jersey Natural Gas (NJNG) sells and delivers natural gas to residential, commercial and industrial customers. Customers can purchase the gas commodity from NJNG or a third-party supplier, with NJNG providing delivery service. The company’s SAVEGREEN program offers home energy audits, grants, incentives and financing for energy-efficiency upgrades, including high-efficiency heating and cooling equipment.[10][11][12]
Clean Energy Ventures develops and operates commercial solar projects that sell electricity under customer contracts or interconnection agreements; eligible projects also produce tradable energy certificates, with one certificate issued per megawatt-hour generated. It added 93 MW of commercial solar capacity in FY2025, bringing its portfolio to 479 MW. Other offerings include Energy Services’ natural-gas transportation, storage and asset-management services; Storage & Transportation’s firm storage and transportation, injection and withdrawal, delivery, and hub services such as park-and-loan and wheeling; and Home Services’ maintenance, replacement and installation of heating, cooling and ventilation equipment, including furnaces, air conditioners, boilers and generators.[13][10][14]
In FY2025, reported segment revenues were $1,302.6 million for NJNG (about 64.0% of consolidated operating revenue), $453.5 million for Energy Services (22.3%), $112.5 million for Clean Energy Ventures (5.5%), $106.4 million for Storage & Transportation (5.2%), and $62.9 million for Home Services (3.1%). Percentages are approximate calculations from segment revenue and consolidated operating revenue of $2,036.4 million; they represent revenue mix, not earnings contribution.[15] [10][11][12][13][14][15]
Geographic presence
New Jersey Resources’ principal operating footprint is in New Jersey. Its natural-gas utility serves 109 municipalities across Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties, covering approximately 1,538 square miles, including about 100 miles of coastline. The territory has an estimated population of 1.7 million, and the utility served approximately 589,000 customers at the end of fiscal 2025.[16][17][18]
The company’s principal executive office is in Wall Township, New Jersey. Its utility operates service centers in Rockaway Township, Atlantic Highlands, Wall Township, Lakewood, and Stafford Township, with additional customer-service facilities in Asbury Park and Wall Township and a training facility in Howell Township.[19][20][21]
Beyond its New Jersey utility territory, NJR reports solar investments across six states and identifies pipeline, storage, and property interests in Pennsylvania and Mississippi. The cited geographic disclosures do not provide revenue percentages by region or an employee breakdown by location.[22][23] [16][17][18][19][20][21][22][23][18][22]
Business segments
New Jersey Resources reports four reportable business segments. NJNG (Natural Gas Distribution) provides regulated natural-gas utility service to residential, commercial and industrial customers. CEV (Clean Energy Ventures) operates wholly owned solar projects and sells renewable energy certificates. ES (Energy Services) provides natural-gas transportation, storage and asset-management services, along with related commodity transactions and pipeline-capacity releases. S&T (Storage and Transportation) provides natural-gas storage and transportation, including facility injections and withdrawals, deliveries and hub services. Home Services and Other is reported separately as other business operations, not among the four reportable segments.[13]
For the nine months ended June 30, 2026, approximate shares of reportable-segment revenue were NJNG 67.9% ($1,251.7 million), CEV 3.3% ($60.9 million), ES 24.0% ($443.2 million), and S&T 4.8% ($88.9 million). These percentages use the reported total revenue for the four reportable segments of $1,844.7 million as the denominator; they are revenue shares, not shares of operating income.[24][25] [13][24][25][25][25][25][25]
Company history
New Jersey Natural Gas’s roots date to 1952, when County Gas Company completed its purchase of Jersey Central Power & Light’s natural-gas properties. The transaction expanded service from about 14,000 customers in Monmouth County to 87,000 customers across four counties.[26]
On July 21, 1982, New Jersey Resources began trading on the New York Stock Exchange following a one-for-one exchange of New Jersey Natural Gas shares, marking a key step in the development of the utility’s parent company.[9][27] From 2009, the company broadened into solar through investments by NJR Clean Energy Ventures.[28]
In 2019–20, NJR expanded its midstream operations by acquiring Leaf River Energy Center, a natural-gas storage facility, and the 84-mile Adelphia pipeline.[29][30] In 2024, it sold its residential solar portfolio to Spruce Power, ending a program that had operated since 2010.[28] [26][9][27][28][29][30]
Sources
- NEW JERSEY RESOURCES CORP — Full financial report (2025 Y)
- www.njresources.com[7]
- www.sec.gov[8]
- investor.njresources.com[9]
- NEW JERSEY RESOURCES CORP — Full financial report (2026 Q 3)
- NEW JERSEY RESOURCES CORP — Transcript (2025 Y)[14]
- NEW JERSEY RESOURCES CORP — Press release (2025 Y)[15]
- investor.njresources.com[18]
- investor.njresources.com[22]
- www.njresources.com[26]
- www.njresources.com[27]
- www.njresources.com[28]
- www.njresources.com[29]
- www.njresources.com[30]
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