and you, Thank good morning everyone. Dennis,
know fiscal you release strong we another year. our delivered from earnings As
last per compared Slide net share X, year. financial reported XXXX of $X.XX $X.XX fiscal at with for share per Looking we earnings
Our performance customers to We tax reform which due increased XXXX higher new New results at Natural expectations. and Services. Gas Energy nearly our by Jersey were primarily added exceeded
unprotected result of start in sound a our XXXX Clean rate one now priorities. our we residential the replacing steel As safety low through our removing New our Since remains XXX commercial customers. eliminating New pipe projects system solar increased from we and added have we approximately Today main customer New over three X.X% pressure our In natural Utilities, system. gas and to support top fiscal Jersey. strengthened for reliability infrastructure of system Jersey. solar environmentally by new We have programs across customers residential most solar Jersey the XXXX. of growth the the of all of of of XXX miles Board iron system our Ventures with XXXX, all Public The cast and our XXXX have Energy
Our roads solar cars now to emissions annually. combined equal megawatts. are XX,XXX commercial XXX and installed over from These assets the from capacity totals removing our residential
to morning This provide the over strong our total range XXXX financial guidance return illustrates our net Our the Slide $X.XX segments. an share. to earnings business you can X% continues four NFE expected X, shareholders. a $X.XX our of Slide also we performance each target attractive our our annual of to per financial announced We rate X to fiscal of favorably of from last NFE contributions years. future growth to On NFE an X% compares peers. see which breakdown
of earnings. to the provide continue regulated majority businesses will our Our total
to to XX% at XX% contribute NFE the for year CEV principal two prior growth customer This investments NFE. which are the this. chart higher of between XX% Looking is Infrastructure left, our drivers reasons midstream and contribute expect to contribute we the expected between regulated Gas X% to and to to business pie businesses. New XX% between to year's. to the remain Natural to Jersey to than NFE is XX% There
First, were align to to of timing sales the some SREC to of XXXX. tax take able our lower the rate of we advantage
to recognize the associated expect solar placed commercial this our projects year. service we Second, ITCs with into
indicated to expect to to the between the Energy X% beyond. right, contribute in range to fiscal Services As XXXX of lastly, XX% on to to to we going chart XX% normalized we and NFE more CEV expect return XX% forward. And
the dividend increase our the increased in we XX X, Slide by representing years. last XXth to Moving X.X%
strategy rate annual of X% growth dividend XX% target the an ratio to targets Our with XX%. payout between to X%
affected be saw by NFE we return competitive reinvesting future company may support while growth. to shareholders This this approach outperformance Services the XXXX. earnings in as Energy However, to allows for in
margin between to come remains increased to this X,XXX our growth. three Today, from XX,XXX three-year over add of XXXX. The approximately from behind Turning strength adding prior our current customers We've construction. factor approximately This see to Based exceeded over years next XXXX growth New we million increase a Gas. to customer Jersey to were at will new market construction forecast Ocean continue on increase be planning our of year, strong period. estimates. XX,XXX in the growth Expectations approximately driving this X, Slide utility customer Natural over we the expect customers. a of rates County our new cumulative our is customers $XX.X by X% gross XX% an particularly residential of
like Reliability to the Link. Moving update on X, an provide I’d Southern to Slide
XXXX. the of are begin completed We first bidding that project X will we've of to process and construction Phase excited quarter this of the report fiscal in
service in SRL a on to Adelphia project future expect costs in through you on update capital project X. to Gateway the rate XXXX case. associated the recover with to like I’d Slide We and plan be
We natural miles the pipeline you to to agreement we sections As convert the million. an signed XX intend know to acquire for southern gas. $XXX Pennsylvania
forward for XXXX. notice FERC process. environmental that from the schedule plan January the jurisdiction. step is On environmental project to the of schedule in issue the FERC. We received review it XXXX the October of bring states to for assessment we This project also entire FERC expects under an important in XX, a
through that impacts will the locations Adelphia quickly it since will rights-of-way. process the project move optimistic minimal and approval Brownfield as infrastructure, are established We existing relies environmental on have FERC
We Gateway contribute in fiscal to XXXX earnings will service in expect be in and the Adelphia XXXX. materially fiscal
to the Turning the Energy a like during discuss Slide year. XX, to moment take Services to I'd performance of fiscal
a to factor We're contribution to gas Energy X% forecasting XXXX. to SlideXX, conditions to favorable XX%, On in the in in into NFE advantage earnings normal As guidance. an for range to of Clean pricing you of you volatility do from substantially This of chart, return not year. Energy to Ventures. excellent experienced had earnings opportunity event see the of due the market there's take expectations I’d while first like exceeded spreads fiscal can half us We allowed extreme market. we our physical this natural market Services the on extreme an Energy additional update Services
capital it and XXXX. megawatts identified $XXX an of million Sunlight serve quarter a process. fiscal which During of four of fiscal eligible placed are already investment we another XXXX projects before customers year the currently have total made residential These for solar permitting three The $XXX end the we of into the year XXXX customers. fiscal another capacity into the residential XX approximately to in to of expect we've contracted over projects first This been capital million plan Advantage and investment XXXX. and year, ITC of to placed for service. about six service project XXXX projects complete has we through of total fourth program in represent and fiscal our We expect add installations this two
As and BPU implementing new been you May of projects. incentive in with developing passed Jersey Act know, Energy program the for New and tasked XXXX the has Clean the
We investment solar work to and BPU, clean closely governor's the contributing while for state’s the continue with to energy remains goals. to ensure office, future viable legislators help the
Finally financials. I’d I’d quarter for the our on of in Pat XXXX. track that remain on wind to sale over turn assets details the the remaining some mention fiscal to close like like first to of now to the call we
