NJR — what changed in the latest 10-Q
A section-by-section comparison of NJR's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-05 vs the prior 10-Q · 2026-02-03
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +39 | −22 | ~60 | 126 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~7 | 11 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 1 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | −2 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-05
Consolidated net income increased approximately $14.6M during the three months ended March 31, 2026, compared with the three months ended March 31, 2025, due primarily to the following factors:
•$8.4M increase at ES related to market volatility due to the colder weather;
•$4.0M increase at NJNG due to higher BGSS incentives and customer growth.
Consolidated net income increased approximately $5.8M during the six months ended March 31, 2026, compared with the six months ended March 31, 2025, due primarily to the following factors:
•$20.9M increase at NJNG due to higher base rates and BGSS incentives, along with customer growth;
Text removed vs the prior filing · source: 10-Q · 2026-02-03
(1) Consists of transactions between subsidiaries that are eliminated in consolidation.
Consolidated net income decreased approximately $8.8M during the three months ended December 31, 2025, compared with the three months ended December 31, 2024, due primarily to the following factors:
•$38.5M decrease at CEV due to the gain on sale of the residential solar portfolio in the prior period; partially offset by
•$16.9M increase at NJNG due to an increase in base rates; and
•$10.3M increase at ES related to market volatility due to the colder weather.
Other information
Text removed vs the prior filing · source: 10-Q · 2026-02-03
On December 12, 2025, Roberto Bel, our Senior Vice President and Chief Financial Officer, adopted a Rule 10b5-1 trading arrangement, which is intended to satisfy the affirmative defense of Rule 10b5-1(c). The Rule 10b5-1 trading arrangement provides for sales of up to 6,105 shares of our common stoc…
On December 12, 2025, Richard Reich, our Senior Vice President and General Counsel, adopted a Rule 10b5-1 trading arrangement, which is intended to satisfy the affirmative defense of Rule 10b5-1(c). The Rule 10b5-1 trading arrangement provides for sales of up to 5,449 shares of our common stock begi…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice