South Jersey Industries Q2 Loss Narrows

(RTTNews) - South Jersey Industries Inc. (SJI) reported that its second-quarter GAAP loss narrowed to $13.3 million or $0.14 per share from $93.8 million or $1.12 per share in the prior year period. The prior year period included an after-tax impairment loss of $74.2 million related to the sale of our solar assets.

Economic loss was $12.2 million or $0.13 per share compared to economic net income of $5.5 million or $0.07 per share last year.

Total operating revenues grew to $266.93 million from $227.33 million in the prior year.

The company reaffirmed 2019 economic earnings per share guidance of $1.05-$1.15, driven by regulated operations.

It also reaffirmed 2020 economic earnings per diluted share guidance of $1.53-$1.67, driven by growth from regulated operations, regulatory initiatives and business transformation benefits .