Attached files
| file | filename |
|---|---|
| EX-99 - EXHIBIT 99 - SOUTH JERSEY INDUSTRIES INC | exhibit99-q32017earningsre.htm |
| 8-K - 8-K - SOUTH JERSEY INDUSTRIES INC | a8k-q32017earningsrelease.htm |
SOURCE: STEPHEN H. CLARK
MARISSA TRAVALINE
COMPANY NAME: SOUTH JERSEY INDUSTRIES, INC.
MARKET: N
STOCK SYMBOL: SJI
SOUTH JERSEY INDUSTRIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(In Thousands Except for Per Share Data)
Three Months Ended September 30, | |||||||||||
2017 | 2016 | ||||||||||
Operating Revenues: | |||||||||||
Utility | $ | 65,473 | $ | 60,983 | |||||||
Nonutility | 161,654 | 158,099 | |||||||||
Total Operating Revenues | 227,127 | 219,082 | |||||||||
Operating Expenses: | |||||||||||
Cost of Sales - (Excluding depreciation) | |||||||||||
- Utility | 28,217 | 25,353 | |||||||||
- Nonutility | 140,598 | 117,635 | |||||||||
Operations | 82,521 | 34,796 | |||||||||
Maintenance | 4,615 | 4,150 | |||||||||
Depreciation | 24,914 | 23,109 | |||||||||
Energy and Other Taxes | 1,517 | 1,449 | |||||||||
Total Operating Expenses | 282,382 | 206,492 | |||||||||
Operating (Loss) Income | (55,255 | ) | 12,590 | ||||||||
Other Income and Expense | 2,253 | 2,223 | |||||||||
Interest Charges | (10,567 | ) | (7,355 | ) | |||||||
(Loss) Income Before Income Taxes | (63,569 | ) | 7,458 | ||||||||
Income Taxes | 24,765 | (2,807 | ) | ||||||||
Equity in Earnings of Affiliated Companies | 1,256 | 5,013 | |||||||||
(Loss) Income from Continuing Operations | (37,548 | ) | 9,664 | ||||||||
Loss from Discontinued Operations - (Net of tax benefit) | (45 | ) | (29 | ) | |||||||
Net (Loss) Income | $ | (37,593 | ) | $ | 9,635 | ||||||
Basic Earnings Per Common Share: | |||||||||||
Continuing Operations | $ | (0.47 | ) | $ | 0.12 | ||||||
Discontinued Operations | — | — | |||||||||
Basic Earnings Per Common Share | $ | (0.47 | ) | $ | 0.12 | ||||||
Average Shares of Common Stock Outstanding - Basic | 79,549 | 79,478 | |||||||||
Diluted Earnings Per Common Share: | |||||||||||
Continuing Operations | $ | (0.47 | ) | $ | 0.12 | ||||||
Discontinued Operations | — | — | |||||||||
Diluted Earnings Per Common Share | $ | (0.47 | ) | $ | 0.12 | ||||||
Average Shares of Common Stock Outstanding - Diluted | 79,549 | 79,635 | |||||||||
Dividends Declared Per Common Share | $ | 0.27 | $ | 0.26 | |||||||
Nine Months Ended September 30, | |||||||||||
2017 | 2016 | ||||||||||
Operating Revenues: | |||||||||||
Utility | $ | 343,180 | $ | 312,925 | |||||||
Nonutility | 554,150 | 393,594 | |||||||||
Total Operating Revenues | 897,330 | 706,519 | |||||||||
Operating Expenses: | |||||||||||
Cost of Sales - (Excluding depreciation) | |||||||||||
- Utility | 131,927 | 110,067 | |||||||||
- Nonutility | 503,715 | 284,236 | |||||||||
Operations | 160,621 | 109,843 | |||||||||
Maintenance | 14,268 | 12,793 | |||||||||
Depreciation | 73,793 | 66,106 | |||||||||
Energy and Other Taxes | 5,139 | 4,617 | |||||||||
Total Operating Expenses | 889,463 | 587,662 | |||||||||
Operating Income | 7,867 | 118,857 | |||||||||
Other Income and Expense | 10,235 | 8,787 | |||||||||
Interest Charges | (38,291 | ) | (24,744 | ) | |||||||
(Loss) Income Before Income Taxes | (20,189 | ) | 102,900 | ||||||||
Income Taxes | 8,439 | (34,885 | ) | ||||||||
Equity in Earnings of Affiliated Companies | 4,337 | 5,038 | |||||||||
(Loss) Income from Continuing Operations | (7,413 | ) | 73,053 | ||||||||
Loss from Discontinued Operations - (Net of tax benefit) | (122 | ) | (176 | ) | |||||||
Net (Loss) Income | $ | (7,535 | ) | $ | 72,877 | ||||||
Basic Earnings Per Common Share: | |||||||||||
Continuing Operations | $ | (0.09 | ) | $ | 0.97 | ||||||
Discontinued Operations | — | — | |||||||||
Basic Earnings Per Common Share | $ | (0.09 | ) | $ | 0.97 | ||||||
Average Shares of Common Stock Outstanding - Basic | 79,539 | 75,316 | |||||||||
Diluted Earnings Per Common Share: | |||||||||||
Continuing Operations | $ | (0.09 | ) | $ | 0.97 | ||||||
Discontinued Operations | — | — | |||||||||
Diluted Earnings Per Common Share | $ | (0.09 | ) | $ | 0.97 | ||||||
Average Shares of Common Stock Outstanding - Diluted | 79,539 | 75,411 | |||||||||
Dividends Declared Per Common Share | $ | 0.81 | $ | 0.78 | |||||||