Category: Culture

Ethnic cultures as newsmakers

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County Exec. Hughes announces projects, funding within $3M ARPA set-aside for municipalities

Making good on his promise to share $3 Million of Mercer County’s American Rescue Plan Act (ARPA) allocation, Mercer County Executive Brian M. Hughes is pleased to announce the municipal grant amounts and the projects to be supported under the County’s Community Investment Initiative.

 

First announced in October by the County Executive and Commissioner Board, the $3 million set-aside was to assist Mercer municipalities with programs and services aimed at older adults, veterans, and people with disabilities.

 

Specifically, the set-aside parameters were that the funds must be used to support, create or augment municipal programs and services in the areas of health, social services and transportation. The program is being administered by GrantWorks, the firm managing the county ARPA allocation, which provides ARPA program compliance, documentation management and reporting.

 

Mr. Hughes said each of the 12 mayors pitched thoughtful projects that met the criteria. “Our mayors know what they need, and I was pleased and impressed by the depth and breadth of their requests,” Mr. Hughes said.

 

“In a perfect world, I wish we could fund each and every project that seeks to touch and improve the lives of our residents, and I appreciate this collaboration with the mayors.”

Mercer County applied the federal government’s ARPA funding formula to allocate portions of the $3 million to each municipality.

 

  • East Windsor: $74,000; Funds must be applied to the bus driver’s salary, programs, tables, chairs, and/or A.V. equipment for the senior center.
  • Ewing: $164,000; Funds must be applied to the Hollowbrook computer learning center, A.V. equipment, and/or senior programs.
  • Hamilton: $445,000; Funds must be applied to a generator for the senior center, the installation of a new field for Miracle League at the YMCA, a freezer for the Mercer County CYO, and/or COVID-19 senior services.
  • Hightstown: $14,000; Funds must be applied to HVAC repairs at the firehouse and/or at the municipal library.
  • Hopewell Borough: $5,000; This allocation will be pooled with the other two municipalities within the Hopewell Valley for a total of $60,000.00 and must be applied to the design and planning of a senior/community center.
  • Hopewell Township: $48,000; This allocation will be pooled with the other two municipalities within the Hopewell Valley for a total of $60,000.00 and must be applied to the design and planning of a senior/community center.
  • Lawrence: $88,000; Funds must be applied to accessibility improvements to the Nature Center and/or lead remediation.
  • Pennington: $7,000; This allocation will be pooled with the other two municipalities within the Hopewell Valley for a total of $60,000.00 and must be applied to the design and planning of a senior/community center.
  • Princeton: $151,000; Funds must be applied to WeDriveU transportation services, dental services for seniors, veterans, and residents with disabilities through the Princeton Health Department, and/or mental health support through the Princeton Senior Resource Center.
  • Robbinsville: $39,000; Funds must be applied to inclusive playground equipment.
  • Trenton: $1,889,000; for ongoing renovations at Reading and Sam Naples senior centers, and enrichment programs.
  • West Windsor: $76,000; To be determined.

At the October announcement about the program, the concept of which was brought to the County Executive by the Commissioner Board, then-Chair Nina Melker said, “The collaboration between the County Administration, the Commissioner Board and our local elected leaders is a perfect example how together we can work diligently in the best interests of our residents.”

The County Executive agrees.

 

Under the federal ARPA, Mercer County received $71.25 million in fiscal recovery funds intended to combat the COVID-19 pandemic. In addition to the Mercer County ARPA allocation, municipalities received the following in ARPA funds:

 

  • East Windsor: $2,680,560
  • Ewing: $6,070,873
  • Hamilton: $16,894,038
  • Hightstown, $521,023
  • Hopewell Borough: $187,230
  • Hopewell Township: $1,741,165
  • Lawrence: $3,186,161
  • Pennington: $253,046
  • Princeton: $6,057,088
  • Robbinsville: $1,428,591
  • Trenton: $73,786,424
  • West Windsor: $2,740,187
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Business Culture Lifestyle

How trusted communications superheroes are winning the battle against fraud and operational inefficiency to protect customers and the bottom line

iconectiv executives showcase how communication service providers are mitigating fraud, caller ID spoofing, smishing, illegal robocalling, network inefficiency and more

 

  • What’s the News: Years of rapid technology and regulatory innovation have created major revenue streams and market opportunities for service providers. They have also increased the need for new ways to mitigate fraud, errors and inefficiencies.
  • Why it Matters: Fraud like illegal robocalls, nuisance calls and messaging spam undermine consumer trust, creating business challenges for service providers, their enterprise customers and consumers. In the shadows of service providers globally, a squadron of advanced and intelligent superheroes are diligently working to keep the integrity of the communications infrastructure and the relevancy of the communication channels intact.

 

BRIDGEWATER, N.J. — (BUSINESS WIRE) — Consumers and businesses depend on voice calls and SMS not only to communicate, but also to enable security safeguards such as two-factor authentication for bank accounts. That’s why fraudsters also look to voice and SMS for illegal robocalling, smishing, account takeovers, PBX hacking, one-ring scams and other types of communication fraud.

By mitigating fraud, a squadron of trusted communication superheroes are using their powers to help service providers protect their customers and their bottom line. They are equally vigilant about combatting the operational challenges that are the unfortunate byproducts of the rapid technology and regulatory innovation that benefits consumers and business alike.

 

At MWC Barcelona 2023, iconectiv executives will highlight the work of the industry’s Superheroes—who are propelling the communications industry’s momentum by keeping people connected, businesses running and commerce flowing. They will also discuss the progress that service providers, regulators and associations such as CTIA, ATIS and GSMA are making to protect businesses and consumers and boost operational efficiency. For example:

 

  • Not knowing a customer’s identity is expensive, especially for service providers forced to cover the cost of one-ring scams as well as other PBX hacking, international revenue share fraud (IRSF), interconnection-related revenue leakage and fraudulent roaming calls to premium-rate services. iconectiv TruNumber Protect gives service providers intelligence for telephone numbers worldwide, cutting down one-ring scam calls and text messages.
  • Service providers will invest $900B in their networks from 2021 to 2025, of which more than 80% will be on 5G. Keeping customers happy while knowing what equipment and capabilities they have and don’t have means systems must work together across business units, domains and locations. A naming standard like iconectiv TruOps Common Language® accomplishes this by identifying and protecting network assets in a consistent manner.
  • Each year, 252 million wireless subscribers around the world change their phone service provider, which means service providers are dealing with increasing account turnover, which also opens the door to fraud. iconectiv TruNumber Routing allows service providers to instantly validate the terminating service provider and determine the optimal, least-cost route to a successful call.

“Illegal robocallers and other fraudsters aren’t the only villains attacking the trusted communications ecosystem. They’re joined by network and asset management complexities that undermine service providers’ bottom lines, making it challenging to continue innovating,” said Richard Jacowleff, iconectiv CEO. “But those villains are losing the battle on every front thanks to the growing legion of Trusted Communication Superheroes. From porting numbers to rolling out 5G, they’re thwarting fraudsters, restoring consumer trust and ferreting out inefficiency and inaccuracy needed to accelerate digital transformation efforts and move conversation commerce forward.”

 

MWC Barcelona 2023 attendees can learn more by visiting iconectiv in Hall 2 at Stand 201MR or by scheduling a meeting via events@iconectiv.com.

 

About iconectiv

Your business and your customers need to access and exchange information simply, seamlessly and securely. iconectiv’s extensive experience in information services and its unmatched numbering intelligence helps you do just that. In fact, more than 2 billion people count on our platforms each day to keep their networks, devices and applications connected. Our cloud-based Software as a Service (SaaS) solutions span network and operations management, numbering, trusted communications and fraud prevention. For more information, visit www.iconectiv.com. Follow us on Twitter and LinkedIn.

Contacts

Media Contact:
Sharon Oddy

iconectiv

+1-732-699-5130/908-809-2268

soddy@iconectiv.com

Casey Bush

Global Results Communications

+1-949-689-9550

iconectiv@globalresultspr.com

Categories
Culture Local News Politics

Locally, Black History Month features Sen. Shirley K. Turner, legislator, educator, and lifelong advocate for all people

Senator Shirley K. Turner, D-15, is serving her eighth term in the New Jersey Senate.

 

Prior to serving in the Senate, Shirley served two terms in the Assembly in 1993 and 1995. During the 208th Legislature, Sen. Turner became the first woman, and the first African-American person to be elected as Senate President Pro Tempore.  

Sen. Turner has worked in a bipartisan fashion to build a significant record of legislative accomplishments, working to enhance the health, safety, and well-being of New Jersey’s children, strengthen families, promote public education and affordable health care; develop and support small businesses, and also fostering economic development, and job growth. The breadth of legislation she has sponsored reflects the needs and interests of her diverse district.

As a career educator, Sen. Turner has been dedicated to New Jersey’s youth, helping them to build bright futures.

She is a former Trenton public school teacher, a former EOF counselor to disadvantaged youth who are first-generation college students, and a former counselor for the New Jersey Youth Corps to help prepare youth for employment.

She is the former Director of Career Services at Rider University, where she worked advising college students and alumni in their career plans.

She received a B.S. in education from The College of New Jersey (formerly Trenton State College) and a M.A. in guidance and counseling from Rider University.  She earned doctoral credits in education at Rutgers University.

Sen. Turner is a former Mercer County Freeholder and Freeholder vice president.  She and her husband Donald live in Lawrenceville.

 

American history resonates with the names of great African-American men and women, and Black History Month is our nation’s way of showing respect and recognition for the hard work of and sacrifices made by African Americans. Mercer County throughout the month will celebrate because Black History is American History! Watch this space for upcoming events!

 

Categories
Culture Local News Politics

Recognizing Anne E. Thompson as first black person to serve as Fed. Judge from NJ

Anne E. Thompson was the first Black person to serve as a federal district court judge from New Jersey. She was nominated to the bench by President Jimmy Carter in 1979.

Thompson became a state public defender in 1967 and Lawrence Township municipal prosecutor in 1972 before Trenton Mayor Arthur Holland appointed her to serve as a municipal court judge in 1972.

Gov. Brendan Byrne nominated her to serve as the Mercer County Prosecutor in 1975.  She was believed to be the first Black woman to serve as a county prosecutor in the nation.

She was the chief judge of the U.S. District Court for New Jersey from 1984 to 2001, when she went on senior status.

Thompson taught theater before attending Howard University Law School.  She worked at the U.S. Department of Labor in Washington during the administration of President Lyndon B. Johnson.

 

 

— Source: NJ Globe; The Trentonian

Categories
Business Culture

New Jersey Resources reports Fiscal 2023 First-Quarter Results and increases net financial earnings guidance for fiscal 2023

Strong Operating Performance Across Organization During Winter Storm Elliott

 

WALL, N.J. — (BUSINESS WIRE) — Today, New Jersey Resources Corporation (NYSE: NJR) reported results for the first quarter of fiscal 2023. Highlights include:

  • Consolidated net income of $115.9 million for the three months ended December 31, 2022, compared with net income of $111.3 million for the same period last year
  • Consolidated net financial earnings (NFE), a non-GAAP financial measure, of $110.3 million, or $1.14 per share, for the three months ended December 31, 2022, compared to NFE of $65.8 million, or $0.69 per share, for the same period last year
  • Increases fiscal 2023 net financial earnings per share (NFEPS) guidance to a range of $2.62 to $2.72, from $2.42 to $2.52, a $0.20 increase, as a result of the strong performance of our business units during Winter Storm Elliott, particularly Energy Services
  • Maintains long-term projected NFEPS growth rate of 7 to 9 percent(1)

First-quarter fiscal 2023 net income totaled $115.9 million, or $1.20 per share, compared with net income of $111.3 million, or $1.16 per share, during the same period in fiscal 2022. First-quarter fiscal 2023 NFE totaled $110.3 million, or $1.14 per share, compared to NFE of $65.8 million, or $0.69 per share, during the same period in fiscal 2022.

 

Steve Westhoven, President and CEO, stated, “NJR reported a strong first quarter of fiscal 2023, with solid operating performance during the recent winter storm event of 2022 driving better than expected results. We are raising our fiscal 2023 NFEPS guidance to a range of $2.62 to $2.72, largely driven by an exceptional quarter from Energy Services as well as favorable contributions from New Jersey Natural Gas (NJNG) and Storage and Transportation. Overall, these results reflect the strength of our complementary portfolio of businesses and the value of our physical infrastructure.”

 

Key Performance Metrics

Three Months Ended

December 31,

($ in Thousands)

2022

2021

Net income

$

115,921

$

111,312

Basic EPS

$

1.20

$

1.16

Net financial earnings

$

110,284

$

65,770

Basic net financial earnings per share

$

1.14

$

0.69

(1)

NFEPS long-term annual growth projections are based on the midpoint of the $2.20 – $2.30 initial guidance range for fiscal 2022, provided on February 1, 2021

A reconciliation of net income to NFE for the three months ended December 31, 2022 and 2021, is provided below.

Three Months Ended

December 31,

(Thousands)

2022

2021

Net income

$

115,921

$

111,312

Add:

Unrealized (gain) on derivative instruments and related transactions

(31,503

)

(82,191

)

Tax effect

7,487

19,536

Effects of economic hedging related to natural gas inventory

23,972

23,577

Tax effect

(5,697

)

(5,603

)

NFE tax adjustment

104

(861

)

Net financial earnings

$

110,284

$

65,770

Weighted Average Shares Outstanding

Basic

96,485

95,944

Diluted

97,083

96,356

Basic earnings per share

$

1.20

$

1.16

Add:

Unrealized (gain) on derivative instruments and related transactions

(0.33

)

(0.86

)

Tax effect

0.08

0.21

Effects of economic hedging related to natural gas inventory

0.25

0.25

Tax effect

(0.06

)

(0.06

)

NFE tax adjustment

—

(0.01

)

Basic NFE per share

$

1.14

$

0.69

 

NFE is a measure of earnings based on the elimination of timing differences to effectively match the earnings effects of the economic hedges with the physical sale of natural gas, Solar Renewable Energy Certificates (SRECs) and foreign currency contracts. Consequently, to reconcile net income and NFE, current-period unrealized gains and losses on the derivatives are excluded from NFE as a reconciling item. Realized derivative gains and losses are also included in current-period net income. However, NFE includes only realized gains and losses related to natural gas sold out of inventory, effectively matching the full earnings effects of the derivatives with realized margins on physical natural gas flows. NFE also excludes certain transactions associated with equity method investments, including impairment charges, which are non-cash charges, and return of capital in excess of the carrying value of our investment. These are not indicative of the Company’s performance for its ongoing operations. Included in the tax effects are current and deferred income tax expense corresponding with the components of NFE.

 

A table detailing NFE for the three months ended December 31, 2022 and 2021, is provided below.

 

Net financial earnings (loss) by Business Unit

Three Months Ended

December 31,

(Thousands)

2022

2021

New Jersey Natural Gas

$

54,664

$

51,080

Clean Energy Ventures (CEV)

(3,582

)

(6,821

)

Storage and Transportation

6,243

2,962

Energy Services

52,533

17,567

Home Services and Other

(29

)

447

Subtotal

109,829

65,235

Eliminations

455

535

Total

$

110,284

$

65,770

 

Fiscal 2023 NFE Guidance:

NJR is raising its fiscal 2023 NFE guidance by $0.20 to a range of $2.62 to $2.72, subject to the risks and uncertainties identified below under “Forward-Looking Statements.” The following chart represents NJR’s current expected contributions from its business segments for fiscal 2023:

 

Company

Expected Fiscal 2023

Net Financial Earnings

Contribution

New Jersey Natural Gas

48 to 53 percent

Clean Energy Ventures

18 to 20 percent

Storage and Transportation

4 to 8 percent

Energy Services

20 to 25 percent

Home Services and Other

0 to 1 percent

 

In providing fiscal 2023 NFE guidance, management is aware there could be differences between reported GAAP earnings and NFE due to matters such as, but not limited to, the positions of our energy-related derivatives. Management is not able to reasonably estimate the aggregate impact or significance of these items on reported earnings and, therefore, is not able to provide a reconciliation to the corresponding GAAP equivalent for its operating earnings guidance without unreasonable efforts.

 

New Jersey Natural Gas

NJNG reported first-quarter fiscal 2023 NFE of $54.7 million, compared to NFE of $51.1 million during the same period in fiscal 2022. The improvement was due primarily to higher base rates, which became effective on December 1, 2021, as well as higher contribution from Basic Gas Supply Service incentive programs to utility gross margin.

 

Customer Growth:

  • NJNG added 2,132 new customers during first-quarter fiscal 2023, compared with 1,730 in fiscal 2022. NJNG expects these new customers to contribute approximately $1.8 million of incremental utility gross margin on an annualized basis.

Infrastructure Update:

  • NJNG’s Infrastructure Investment Program (IIP) is a five-year, $150 million accelerated recovery program that began in fiscal 2021. IIP consists of a series of infrastructure projects designed to enhance the safety and reliability of NJNG’s natural gas distribution system. During the first quarter of fiscal 2023 NJNG spent $8.8 million under the program on various distribution system reinforcement projects. On March 31, 2022, the Company filed its first rate recovery request with the BPU. On July 13, 2022, NJNG updated the filing with actual information through June 30, 2022, seeking recovery for $28.9 million of investments, including AFUDC, from November 30, 2020 through June 30, 2022. On September 7, 2022, the BPU issued an Order approving a stipulation of settlement effective October 1, 2022.

 

Basic Gas Supply Service (BGSS) Incentive Programs:

BGSS incentive programs contributed $8.7 million to utility gross margin in the first-quarter of fiscal 2023, compared with $3.8 million during the same period in fiscal 2022. The increase was due primarily to higher margins from off-system sales and the storage incentive program.

For more information on utility gross margin, please see “Non-GAAP Financial Information” below.

Energy-Efficiency Programs:

SAVEGREEN invested $10.7 million in the first quarter of fiscal 2023 in energy-efficiency upgrades for their customers’ homes and businesses. NJNG recovered $2.5 million of its outstanding investments during the first quarter of fiscal 2023 through its energy efficiency rate.

 

Clean Energy Ventures

CEV reported first-quarter fiscal 2023 net financial loss of $(3.6) million, compared with net financial loss of $(6.8) million during the same period in fiscal 2022. The improvement was due primarily to higher SREC and electricity revenue and lower operating expenses, partially offset by higher depreciation expenses.

Solar Investment Update:

  • During the first quarter of fiscal 2023, CEV placed 3 commercial projects into service, adding approximately 18 megawatts (MW) to total installed capacity.
  • As of December 31, 2022, CEV had approximately 405MW of solar capacity (including residential) in service in New Jersey, Rhode Island, New York and Connecticut.
  • Subsequent to quarter end, CEV placed a 25MW commercial project into service, and now has over 430MW (including residential) of total installed capacity as of February 2, 2022.

 

Storage and Transportation

Storage and Transportation reported first-quarter fiscal 2023 NFE of $6.2 million, compared with NFE of $3.0 million during the same period in fiscal 2022. The increase was due primarily to increased operating revenue at Leaf River and Adelphia Gateway, partially offset by increased depreciation expenses.

Energy Services

Energy Services reported first-quarter fiscal 2023 NFE of $52.5 million, compared with NFE of $17.6 million during the same period in fiscal 2022. The improvement for the first quarter of fiscal 2023 compared to the prior year period was due primarily to higher natural gas price volatility during periods of colder than expected weather in December, allowing Energy Services to capture additional margin.

Home Services and Other Operations

Home Services and Other Operations reported first-quarter fiscal 2023 net financial loss of $(0.03) million compared with NFE of $0.4 million for the same period in fiscal 2022.

Capital Expenditures and Cash Flows:

NJR is committed to maintaining a strong financial profile.

  • During the first-quarter of fiscal 2023, capital expenditures were $137.0 million, including accruals, of which $80.7 million were related to NJNG, compared with $152.7 million, of which $59.7 million were related to NJNG, during the same period in fiscal 2022. The decrease in capital expenditures was primarily due to the completion of the Adelphia Gateway Pipeline project, which was placed into service in September 2022.
  • During the first-quarter of fiscal 2023, cash flows used in operations were $88.9 million, compared with cash flows used in operations of $37.4 million during the same period of fiscal 2022. The decrease in operating cash flows was due to higher working capital requirements as a result of higher energy prices.

 

Forward-Looking Statements:

This earnings release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. NJR cautions readers that the assumptions forming the basis for forward-looking statements include many factors that are beyond NJR’s ability to control or estimate precisely, such as estimates of future market conditions and the behavior of other market participants. Words such as “anticipates,” “estimates,” “expects,” “projects,” “may,” “will,” “intends,” “plans,” “believes,” “should” and similar expressions may identify forward-looking statements and such forward-looking statements are made based upon management’s current expectations, assumptions and beliefs as of this date concerning future developments and their potential effect upon NJR. There can be no assurance that future developments will be in accordance with management’s expectations, assumptions and beliefs or that the effect of future developments on NJR will be those anticipated by management. Forward-looking statements in this earnings release include, but are not limited to, certain statements regarding NJR’s NFEPS guidance for fiscal 2023, projected NFEPS growth rates, forecasted contribution of business segments to NJR’s NFE for fiscal 2023, customer growth at NJNG, potential CEV capital projects, infrastructure programs and investments future decarbonization opportunities including IIP, the outcome of future Base Rate Cases with the BPU, and other legal and regulatory expectations.

Additional information and factors that could cause actual results to differ materially from NJR’s expectations are contained in NJR’s filings with the SEC, including NJR’s Annual Reports on Form 10-K and subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other SEC filings, which are available at the SEC’s web site, http://www.sec.gov. Information included in this earnings release is representative as of today only and while NJR periodically reassesses material trends and uncertainties affecting NJR’s results of operations and financial condition in connection with its preparation of management’s discussion and analysis of results of operations and financial condition contained in its Quarterly and Annual Reports filed with the SEC, NJR does not, by including this statement, assume any obligation to review or revise any particular forward-looking statement referenced herein in light of future events.

Non-GAAP Financial Information:

This earnings release includes the non-GAAP financial measures NFE/net financial loss, NFE per basic share, financial margin and utility gross margin. A reconciliation of these non-GAAP financial measures to the most directly comparable financial measures calculated and reported in accordance with GAAP can be found below. As an indicator of NJR’s operating performance, these measures should not be considered an alternative to, or more meaningful than, net income or operating revenues as determined in accordance with GAAP. This information has been provided pursuant to the requirements of SEC Regulation G.

NFE and financial margin exclude unrealized gains or losses on derivative instruments related to NJR’s unregulated subsidiaries and certain realized gains and losses on derivative instruments related to natural gas that has been placed into storage at Energy Services and certain transactions related to NJR’s investments in the PennEast Project, net of applicable tax adjustments as described below. Financial margin also differs from gross margin as defined on a GAAP basis as it excludes certain operations and maintenance expense and depreciation and amortization as well as the effects of derivatives as discussed above. Volatility associated with the change in value of these financial instruments and physical commodity reported on the income statement in the current period. In order to manage its business, NJR views its results without the impacts of the unrealized gains and losses, and certain realized gains and losses, caused by changes in value of these financial instruments and physical commodity contracts prior to the completion of the planned transaction because it shows changes in value currently instead of when the planned transaction ultimately is settled. An annual estimated effective tax rate is calculated for NFE purposes and any necessary quarterly tax adjustment is applied to NJR Energy Services Company.

NJNG’s utility gross margin is defined as operating revenues less natural gas purchases, sales tax, and regulatory rider expense. This measure differs from gross margin as presented on a GAAP basis as it excludes certain operations and maintenance expense and depreciation and amortization. Utility gross margin may also not be comparable to the definition of gross margin used by others in the natural gas distribution business and other industries. Management believes that utility gross margin provides a meaningful basis for evaluating utility operations since natural gas costs, sales tax and regulatory rider expenses are included in operating revenues and passed through to customers and, therefore, have no effect on utility gross margin.

Management uses these non-GAAP financial measures as supplemental measures to other GAAP results to provide a more complete understanding of NJR’s performance. Management believes these non-GAAP financial measures are more reflective of NJR’s business model, provide transparency to investors and enable period-to-period comparability of financial performance. A reconciliation of all non-GAAP financial measures to the most directly comparable financial measures calculated and reported in accordance with GAAP can be found below. For a full discussion of NJR’s non-GAAP financial measures, please see NJR’s most recent Report on Form 10-K, Item 7.

About New Jersey Resources

New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:

  • New Jersey Natural Gas, NJR’s principal subsidiary, operates and maintains over 7,700 miles of natural gas transportation and distribution infrastructure to serve over 570,000 customers in New Jersey’s Monmouth, Ocean and parts of Morris, Middlesex, Sussex and Burlington counties.
  • Clean Energy Ventures invests in, owns and operates solar projects with a total capacity of more than 430 megawatts, providing residential and commercial customers with low-carbon solutions.
  • Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America.
  • Storage and Transportation serves customers from local distributors and producers to electric generators and wholesale marketers through its ownership of Leaf River and the Adelphia Gateway Pipeline, as well as our 50% equity ownership in the Steckman Ridge natural gas storage facility.
  • Home Services provides service contracts as well as heating, central air conditioning, water heaters, standby generators, solar and other indoor and outdoor comfort products to residential homes throughout New Jersey.

NJR and its over 1,200 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®.

For more information about NJR: www.njresources.com.

Follow us on Twitter @NJNaturalGas.

“Like” us on facebook.com/NewJerseyNaturalGas.

NEW JERSEY RESOURCES

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

Three Months Ended

December 31,

(Thousands, except per share data)

2022

2021

OPERATING REVENUES

Utility

$

357,409

$

274,435

Nonutility

366,158

401,407

Total operating revenues

723,567

675,842

OPERATING EXPENSES

Gas purchases

Utility

182,446

122,269

Nonutility

232,070

278,794

Related parties

1,827

1,846

Operation and maintenance

79,501

68,984

Regulatory rider expenses

18,251

16,671

Depreciation and amortization

36,683

30,393

Total operating expenses

550,778

518,957

OPERATING INCOME

172,789

156,885

Other income, net

4,655

4,136

Interest expense, net of capitalized interest

29,491

19,477

INCOME BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF AFFILIATES

147,953

141,544

Income tax provision

32,978

30,807

Equity in earnings of affiliates

946

575

NET INCOME

$

115,921

$

111,312

EARNINGS PER COMMON SHARE

Basic

$

1.20

$

1.16

Diluted

$

1.19

$

1.16

WEIGHTED AVERAGE SHARES OUTSTANDING

Basic

96,485

95,944

Diluted

97,083

96,356

RECONCILIATION OF NON-GAAP PERFORMANCE MEASURES

(Unaudited)

Three Months Ended

December 31,

(Thousands)

2022

2021

NEW JERSEY RESOURCES

A reconciliation of net income, the closest GAAP financial measure, to net financial earnings is as follows:

Net income

$

115,921

$

111,312

Add:

Unrealized (gain) on derivative instruments and related transactions

(31,503

)

(82,191

)

Tax effect

7,487

19,536

Effects of economic hedging related to natural gas inventory

23,972

23,577

Tax effect

(5,697

)

(5,603

)

NFE tax adjustment

104

(861

)

Net financial earnings

$

110,284

$

65,770

Weighted Average Shares Outstanding

Basic

96,485

95,944

Diluted

97,083

96,356

A reconciliation of basic earnings per share, the closest GAAP financial measure, to basic net financial earnings per share is as follows:

Basic earnings per share

$

1.20

$

1.16

Add:

Unrealized (gain) on derivative instruments and related transactions

$

(0.33

)

$

(0.86

)

Tax effect

$

0.08

$

0.21

Effects of economic hedging related to natural gas inventory

$

0.25

$

0.25

Tax effect

$

(0.06

)

$

(0.06

)

NFE tax adjustment

$

—

$

(0.01

)

Basic NFE per share

$

1.14

$

0.69

NATURAL GAS DISTRIBUTION

A reconciliation of gross margin, the closest GAAP financial measure, to utility gross margin is as follows:

Operating revenues

$

357,746

$

274,772

Less:

Natural gas purchases

184,771

124,594

Operating and maintenance (1)

26,294

13,141

Regulatory rider expense

18,251

16,671

Depreciation and amortization

24,890

22,893

Gross margin

103,540

97,473

Add:

Operating and maintenance (1)

26,294

13,141

Depreciation and amortization

24,890

22,893

Utility gross margin

$

154,724

$

133,507

(1) Excludes selling, general and administrative expenses of approximately $23.4 million and $23.3 million for the three months ended December 31, 2022 and 2021, respectively

RECONCILIATION OF NON-GAAP PERFORMANCE MEASURES (continued)

(Unaudited)

Three Months Ended

(Unaudited)

December 31,

(Thousands)

2022

2021

ENERGY SERVICES

A reconciliation of gross margin, the closest GAAP financial measure, to Energy Services’ financial margin is as follows:

Operating revenues

$

321,782

$

369,244

Less:

Natural Gas purchases

233,287

278,687

Operation and maintenance (1)

3,455

(13,871

)

Depreciation and amortization

57

28

Gross margin

84,983

104,400

Add:

Operation and maintenance (1)

3,455

(13,871

)

Depreciation and amortization

57

28

Unrealized (gain) on derivative instruments and related transactions

(39,886

)

(85,647

)

Effects of economic hedging related to natural gas inventory

23,972

23,577

Financial margin

$

72,581

$

28,487

(1) Excludes selling, general and administrative expenses of approximately $(2.3) million and $17.6 million for the three months ended December 31, 2022 and 2021, respectively.

A reconciliation of net income, the closest GAAP financial measure, to net financial earnings is as follows:

Net income

$

64,561

$

65,744

Add:

Unrealized (gain) on derivative instruments and related transactions

(39,886

)

(85,647

)

Tax effect

9,479

20,357

Effects of economic hedging related to natural gas

23,972

23,577

Tax effect

(5,697

)

(5,603

)

NFE tax adjustment

104

(861

)

Net financial earnings

$

52,533

$

17,567

FINANCIAL STATISTICS BY BUSINESS UNIT

(Unaudited)

Three Months Ended

December 31,

(Thousands, except per share data)

2022

2021

NEW JERSEY RESOURCES

Operating Revenues

Natural Gas Distribution

$

357,746

$

274,772

Clean Energy Ventures

12,792

10,183

Energy Services

321,782

369,244

Storage and Transportation

26,838

12,143

Home Services and Other

14,266

13,951

Sub-total

733,424

680,293

Eliminations

(9,857

)

(4,451

)

Total

$

723,567

$

675,842

Operating Income (Loss)

Natural Gas Distribution

$

80,113

$

74,183

Clean Energy Ventures

(321

)

(3,972

)

Energy Services

87,315

86,778

Storage and Transportation

12,617

1,876

Home Services and Other

51

862

Sub-total

179,775

159,727

Eliminations

(6,986

)

(2,842

)

Total

$

172,789

$

156,885

Equity in Earnings of Affiliates

Storage and Transportation

$

909

$

1,056

Eliminations

37

(481

)

Total

$

946

$

575

Net Income (Loss)

Natural Gas Distribution

$

54,664

$

51,080

Clean Energy Ventures

(3,582

)

(6,821

)

Energy Services

64,561

65,744

Storage and Transportation

6,243

2,962

Home Services and Other

(29

)

447

Sub-total

121,857

113,412

Eliminations

(5,936

)

(2,100

)

Total

$

115,921

$

111,312

Net Financial Earnings (Loss)

Natural Gas Distribution

$

54,664

$

51,080

Clean Energy Ventures

(3,582

)

(6,821

)

Energy Services

52,533

17,567

Storage and Transportation

6,243

2,962

Home Services and Other

(29

)

447

Sub-total

109,829

65,235

Eliminations

455

535

Total

$

110,284

$

65,770

Throughput (Bcf)

NJNG, Core Customers

25.0

24.6

NJNG, Off System/Capacity Management

17.9

25.1

Energy Services Fuel Mgmt. and Wholesale Sales

44.2

63.5

Total

87.1

113.2

Common Stock Data

Yield at December 31,

3.1

%

3.5

%

Market Price at December 31,

$

49.62

$

41.06

Shares Out. at December 31,

96,803

95,962

Market Cap. at December 31,

$

4,803,389

$

3,940,188

Contacts

Media:
Mike Kinney

732-938-1031

mkinney@njresources.com

Investor:
Adam Prior

732-938-1145

aprior@njresources.com

Read full story here

Categories
Culture Education Local News

Mercer County Police Academy graduates 28th class of officers

WEST WINDSOR, N.J. — Forty-four cadets who made up the 28th basic class of police officers recently took part in Mercer County Police Academy commencement held in the gymnasium at Mercer County Community College (MCCC).

 

PHOTO — Members of Mercer County Police Academy’s Basic Recruit Class #28-22.

An audience of several hundred family members, friends, Mercer County dignitaries and law enforcement officials from around State of New Jersey saw the cadets receive graduation certificates to officially make them police officers.

 

The graduates endured 21 weeks of training at the academy in all aspects of law enforcement and will now serve in police agencies within Mercer County and elsewhere (see complete list below). The academy, which was created in October 2006, is located on the grounds of MCCC.

 

Ian Palmer of Plainsboro, who will join the Middlesex County Sheriff’s Office and was chosen by his fellow graduates as class speaker, noted that while class members didn’t all follow the same path to reach the Police Academy, they share certain things in common.

 

PHOTO: Class speaker Ian Palmer, who will join the Middlesex County Sheriff’s Office, addresses his fellow graduates.

“Each of us is driven by a desire to better ourselves and our communities,” he said. “To be a leader and a role model for others, to be the person one can turn to for aid in their most dire of moments, during any crisis minor or substantial. To stand ready, willing and able to enforce and uphold the laws of this great nation for all those who reside within her as our oath commands us.”

 

And Officer Palmer reminded his classmates, as he said their instructors had, that they would have to earn everything they get throughout their careers.

 

“We will continue to be tested, and it is our duty to push beyond what we first thought ourselves able to achieve, as we have done since our first day together as a class,” he said.

 

Also addressing the class were Police Academy Director Martin Masseroni, Mercer County Executive Brian M. Hughes, Mercer County Sheriff John A. Kemler, County Commissioner Kristin L. McLaughlin; and Dr. Robert Schreyer, MCCC vice president.

 

 

During training, the class studied in disciplines such as use of force, firearms, vehicle pursuit, hostage negotiation, advanced crime scene processing and domestic violence prevention, among others. Several cadets received awards at the graduation ceremony for their excellence in training. Tara Soscia, New Jersey Transit Police Department, was chosen by her classmates to receive the Certificate of Merit awarded by the N.J. Police Training Commission to the best all-around graduate. William Rafferty, Hamilton Police Division, received the academic award; Joshua Rosenel, New Jersey State Human Services Police Department, earned the firearms qualification award with a perfect score; Alim Djemilev, Ewing Township Police Department, received the physical training award; and Ian Gaynor, New Jersey Transit Police Department, received the emergency vehicle operations award.

 

PHOTO: Newly certified law enforcement officers congratulate each other on their achievement.

The Mercer Police Academy consists of two classrooms specially designed for the needs of law enforcement training, and recruits use MCCC grounds, its library and its gymnasium for training purposes. The campus includes a padded training room that is used for “defensive tactics” classes. A shooting range in Hopewell Township operated by the prosecutor’s office is part of the academy as well.

 

The following is a list of the graduates, their hometowns, and the law enforcement agency each will join:

 

Bridgewater Township Police Department: Arthur Akins Jr., Somerville; Justin Anno, Ringoes; Hanif McClinton, Piscataway; Noel Rosado Jr., Metuchen; Masyn Sanchez, Dover
Burlington County Sheriff’s Office: Andrew Farr, Medford; Joseph Iacovitti, Burlington
Ewing Township Police Department: Gabriel Berdecia, Ewing; Alim Djemilev, Ewing; Estephan Hernandez, Ewing; Holly Oswald-Kardos, Ewing; Jason Ulrich, Ewing
Hamilton Township Police Division: Thomas Horne, Hamilton; Todd Jewell, Hamilton; William Rafferty, Hamilton

Lawrence Township Police Department: Stephen Sikora, Lawrence
Mercer County Sheriff’s Office: Anthony Johnson, Hamilton
Middlesex County Sheriff’s Office: Anthony Badawy, North Brunswick; Tyrone Cabbell, Perth Amboy; David Chehade, North Brunswick; Michael Cipriani, Piscataway; Christian Collazo, Woodbridge; Deanna Ehrhardt, North Brunswick; Craig Elliott, New Brunswick; Christopher Johnson, South Brunswick; Joseph Medina, Piscataway; Tyler Morris, Highland Park; Ian Palmer, Plainsboro; Ervin Ramos, Piscataway; Nicholas Smith, South Amboy;
New Jersey State Human Services Police Department: Michelle Pistone, Lumberton; Joshua Rosenel, Lambertville
New Jersey Transit Police Department: Meryem Adina, Harrison; Julia Blahut, Pompton Plains; Nathalie Cook, Bayonne; Amber Crispin, Little Falls; Ian Gaynor, Point Pleasant Beach; Mark Schmidt, Woodland Park; Tara Soscia, Bayonne
Pemberton Township Police Department: Cezar Martinez Nieto, Pemberton
The College of New Jersey Police Department: Alex Mariani, Morrisville
Trenton Police Department: Nicholas DiLissio, Hamilton
Washington Township Police Department: Christopher Santamaria, Hackettstown; Anthony Spiridigliozzi, Washington.

Categories
Culture Local News

Hughes announces ‘Mercer Forward’ plan in 2023 State of County address

TRENTON, N.J. – Mercer County Executive Brian M. Hughes presented a three-pronged plan to guide his administration’s efforts over the next several years in the 2023 State of the County remarks that he presented to the Board of Commissioners on Jan. 26.

Photo: Mercer County Executive Brian M. Hughes delivers his 2023 State of the County address to the Board of County Commissioners and the public Jan. 26 at the County Administration Building.

 

Speaking to an overflow crowd at the County Administration Building, Mr. Hughes addressed a report issued this week by the Office of the State Comptroller, updated the board and public on several major projects that are under way, and with an eye toward the future outlined his “Mercer Forward” plan that focuses on three specific areas: a “thriving and inclusive economy;” “healthy residents”; and “environmental sustainability.”

 

“This plan will guide our efforts over the next several years,” Mr. Hughes said. “It will require collaboration with this board to be successful, and will make a real and measurable impact on our residents’ lives.”

 

Rescue Plan Act (ARPA) funds the county was awarded by the Biden Administration:

  • Small Business Grant Program, which dedicates $3.5 million in ARPA funds via grants of up to $10,000 to boost small businesses that likely have experienced pandemic hardship.
  • Small Business Investment Program, which sets aside $500,000 to help underfunded businesses find the capital the need to “grow and flourish.”
  • Allocation of more than $1 million for a free transportation service for local residents who work at newly developed warehouse and retail business parks in East Windsor and the Cranbury area. This service will complement the existing Route 130 Connection bus route, he said.
  • Allocation of $250,000 to develop an expungement services program that would help individuals with certain criminal records get a clean start, enabling them to find employment, access stable housing and “become active contributors to their communities.” Mr. Hughes called it the “logical next step” to the county’s grant-funded Re-entry Program for people leaving incarceration, which he announced a year ago.

 

Mr. Hughes also announced the creation of a new digital Small Business Directory, which will be managed by the county’s Small Business Outreach Office and is aimed at supporting businesses owned by women, minorities or veterans, along with other small businesses.

 

“Small businesses are the lifeblood of our local economy, and our goal is to create and identify ways to increase business traffic to certified small businesses and encourage others to become certified,” Mr. Hughes said.

 

He recognized Job One Lawn and Landscape, a woman- and minority-owned small business owned by Jocelyn and Stan Tucker of Ewing, as “just one of our many success stories.” Job One recently won a county contract for $75,000.

 

Regarding the community health part of his Mercer Forward plan, Mr. Hughes highlighted the following new initiatives:

  • The awarding of a contract to the Rescue Mission of Trenton that will target the ongoing public health crisis of opioid addiction by providing a mobile unit that will travel around the county, focusing on the hardest-hit neighborhoods, to offer Narcan kits and linkage to local treatment services.
  • Using ARPA funds to expand the Mercer County Division of Public Health. Mr. Hughes said that over time, the Division has grown its programs and services, and it became clear during the pandemic that the Division’s operating and storage space is insufficient. The expansion would help ensure the Division “can continue to adequately meet the needs of our residents, including storing vaccine, PPE and other equipment, and have enough office space and parking to continue to conduct various health clinics, while supporting the needs of our municipal partners as well.”

 

He also touted his administration’s Mercer at Play program, which has resulted in the creation of dozens of recreational projects throughout the county, and the effective partnerships the county formed with the City of Trenton and various health care entities during the pandemic to make vaccinations, test kits and information available to residents.

 

“As part of our long-range plan, we are continually creating and improving our physical and social environments and expanding community resources to that people can live their best lives,” Mr. Hughes said.

 

Environmental sustainability is the third part of the County Executive’s “Mercer Forward” plan. He said that his administration has prioritized sustainability through numerous initiatives, such as land preservation, tree plantings and creation of pollinator habitats that improve biodiversity and air quality; and through the installation of bicycle facilities and electric vehicle charging stations that expand people’s ability to forgo their gasoline-powered cars.

 

“Our combined efforts with those important projects go a long way toward reducing our carbon footprint and reliance on fossil fuels,” Mr. Hughes said, “but there is more work to do, and the opportunity to take a more cohesive approach.”

 

He said that part of that approach, a new Integrated Climate Action Plan, will include the following:

  • Creation of an internal advisory board, which will consider adaptation and resiliency measures in county infrastructure, transportation including motor vehicle fleet, waste management and community engagement.
  • Following up on the energy audits the county has performed on more than 25 of its facilities, it will commission a sustainability audit of all county operations to evaluate progress.
  • Among the county’s long-term goals are to turn over its motor vehicle fleet after identifying which should be replaced with green vehicles, and to retrofit lighting, lighting fixtures and HVAC systems to the most efficient available.
  • Mr. Hughes said that he and Mercer County Community College President Deborah Preston are discussing new programs the area sustainability, and “exploring collaborations in urban or vertical farming to eliminate food deserts and promote ‘green’ careers in the City of Trenton.”

 

“With the support of our residents and businesses, Mercer County will continue to be a leader in making government operations more sustainable,” Mr. Hughes said. “We understand the scale of the challenge, and we are passionate about the need to preserve the planet and create a cleaner, greener future.”

 

The County Executive also addressed a report issued Tuesday by the Office of the State Comptroller regarding an investigation of the county Finance Department. Mr. Hughes said his administration “took swift action” when he was “made aware of concerning information about the county’s Chief Fiscal Officer, even though his and the county’s fiscal practices are subject to independent annual audits.”

 

He said his administration “immediately informed the County Commissioners, suspended the CFO, launched an investigation through outside counsel and referred the matter to law enforcement.”

 

“Integrity matters, and this administration holds itself to the highest standards,” he said. “To say we are disappointed in the CFO’s actions is an understatement; as the OSC said, the County was a ‘victim of the CFO.’  We will take every legal measure available to us to hold the CFO accountable, and to ensure something like this never happens again. We are cooperating fully with law enforcement and have been since the administration first uncovered the problems in August.”

 

Mr. Hughes provided the following update on several major county projects that are under way:

  • Replacement of the passenger terminal at Trenton-Mercer Airport in Ewing is in phase 2 of design, Mr. Hughes said, with design completion anticipated by the end of 2023 or very early next year. Concurrent to the terminal project is the design and construction of a new 1,000-space parking garage.
  • Engineering and permitting are continuing, he said, for the first phase of improvements at Miry Run, a passive-recreation park in Hamilton, Robbinsville and West Windsor. In addition, plans for dredging the lake have been designed and will proceed upon approval from the New Jersey Department of Environmental Protection.
  • The Park Commission is working with Trap Rock Industries to execute the terms of the reclamation plan for the 166-acre Moores Station Quarry in Hopewell Township ahead of the county’s acquisition, which is anticipated this spring, Mr. Hughes said. Once the Park Commission takes possession of the site, it will begin the multi-year process of transforming the open-pit quarry into a park process of transforming the open-pit quarry into a park.
  • A flood wall is being built by NJDOT at the Fishing Wharf Park in Trenton – which has been closed to the public for years due to structural deficiencies — as part of a collaborative effort between the City of Trenton, the County of Mercer and three state agencies to design and create an improved flood-resilient park that also will serve as flood protection for Route 29. The Mercer County Park Commission is overseeing the design of park improvements and will eventually assume responsibility for maintaining the park once it is constructed by NJDOT.
Categories
Business Culture Perks

Campbell appoints Carrie Anderson Chief Financial Officer

CAMDEN, N.J. — (BUSINESS WIRE) — Campbell Soup Company (NYSE:CPB) today announced the appointment of Carrie L. Anderson as Executive Vice President and Chief Financial Officer, effective Feb. 6.

 

Anderson will lead Campbell’s finance function, including controllership, corporate financial planning and analysis, corporate strategy and development, tax, treasury, internal audit, investor relations, transactional services and financial systems. She will report to Campbell’s President and Chief Executive Officer Mark Clouse and become a member of the company’s Operating Committee and a Corporate Officer. Anderson succeeds Mick Beekhuizen, who was appointed President of Campbell’s Meals & Beverages division in November 2022.

 

“I am delighted to welcome Carrie to our leadership team. She brings a wide range of diverse, strategic experience and financial discipline, and her expertise in capital management and deployment will help us continue to drive our growth plans and enhance our performance,” said Clouse.

 

“Her collaborative approach combined with a track record of driving transformation, delivering results and developing strong finance teams will be invaluable as we continue to build momentum in the business.”

 

Anderson brings a wealth of financial experience working in a variety of complex industries, as well as a background in manufacturing and engineering. She joins Campbell from Integra LifeSciences (NASDAQ:IART), a leading global medical technology company, where she has served as Executive Vice President and Chief Financial Officer since 2019. Before Integra, Anderson spent seven years with Dover Corporation in several leadership roles, including Chief Accounting Officer/Corporate Controller, and Vice President and CFO for the company’s engineered systems and printing and identification businesses. Previously, Anderson spent six years as Vice President and Chief Financial Officer of Delphi Product & Service Solutions, a division of Delphi Corporation. While at Delphi, she also held leadership positions in finance, treasury and investor relations. Anderson started her career with General Motors.

 

Anderson earned her B.S. in chemical engineering from Purdue University and an MBA from Ball State University. She serves on the board of directors of Embecta Corp. (NASDAQ:EMBC) and is a member of its Audit and Nominating & Governance committees.

 

About Campbell Soup Company

For more than 150 years, Campbell (NYSE: CPB) has been connecting people through food they love. Generations of consumers have trusted Campbell to provide delicious and affordable food and beverages. Headquartered in Camden, N.J. since 1869, Campbell generated fiscal 2022 net sales of nearly $8.6 billion. Our portfolio includes iconic brands such as Campbell’s, Cape Cod, Goldfish, Kettle Brand, Lance, Late July, Milano, Pace, Pacific Foods, Pepperidge Farm, Prego, Snyder’s of Hanover, Swanson and V8. Campbell has a heritage of giving back and acting as a good steward of the environment. The company is a member of the Standard & Poor’s 500 as well as the FTSE4Good and Bloomberg Gender-Equality Indices. For more information, visit www.campbellsoupcompany.com or follow company news on Twitter via @CampbellSoupCo.

Contacts

Investor:
Rebecca Gardy

(856) 342-6081

Rebecca_Gardy@campbells.com

Media:
James Regan

(856) 219-6409

James_Regan@campbells.com

Categories
Business Culture Environment Lifestyle Local News

Essential Properties Realty Trust, Inc. to report Fourth Quarter 2022 results on Feb. 15, 2023

PRINCETON, N.J. — (BUSINESS WIRE) — Essential Properties Realty Trust, Inc. (NYSE: EPRT; “Essential Properties” or the “Company)” announced today that the Company will release its operating results for the fourth quarter ended Dec. 31, 2022, after the market close on Wednesday, Feb. 15, 2023. The Company will host its fourth quarter 2022 earnings conference call and audio webcast on Thursday, Feb. 16, 2023, at 10:00 a.m. Eastern Time to discuss its operating results.

 

A webcast of the conference call will be available on the Investor Relations section of the Company’s website at www.essentialproperties.com. To listen to the live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software.

 

Direct Link to Webcast:

https://viavid.webcasts.com/starthere.jsp?ei=1595275&tp_key=6c4500d3f6

 

To Participate in the Telephone Conference Call:

Dial in at least five minutes prior to start time

Domestic: 877-407-9208

International: 201-493-6784

Conference Call Playback:

Domestic: 844-512-2921

International: 412-317-6671

Replay Pin: 13735903

 

About Essential Properties Realty Trust, Inc.

Essential Properties Realty Trust, Inc. is an internally managed REIT that acquires, owns and manages primarily single-tenant properties that are net leased on a long-term basis to companies operating service-oriented or experience-based businesses. As of Sept. 30, 2022, the Company’s portfolio consisted of 1,572 freestanding net lease properties with a weighted average lease term of 14.0 years and a weighted average rent coverage ratio of 4.2x. In addition, as of Sept. 30, 2022, the Company’s portfolio was 99.8% leased to 329 tenants operating 486 different concepts in 16 industries across 48 states.

Contacts

Investor/Media:

Essential Properties Realty Trust, Inc.

Daniel Donlan

Senior Vice President, Capital Markets

609-436-0619

investors@essentialproperties.com

Categories
Culture Education News Now! Special/Sponsored Content

Associaton of National Advertisers’ Educational Foundation (AEF) and SeeHer announce SeeHer Education

New Groundbreaking Initiative Created to Combat Gender Bias in Marketing and Advertising Through Education at the University Level

 

NEW YORK — (BUSINESS WIRE) — The ANA Educational Foundation (AEF) and SeeHer, the leading global movement to eliminate gender bias in marketing, media, and entertainment, announced the launch of a first-of-its-kind new initiative, SeeHer Education.

SeeHer Education is the first certificate program combining Marketing and Gender Studies. The program brings together top professors and practitioners who are leading efforts to eliminate gender bias in marketing and advertising and will act as a bridge between academia and industry.

 

The specific outcomes of SeeHer Education include:

  • Educate the next generation of marketing leaders on how to eliminate gender bias from day one of their careers.
  • Demonstrate how to increase accurate, fair portrayals of women and girls.
  • Provide best-in-class professional credentials combining academic theory with industry best practices.
  • Create a pipeline of talent for the industry that brings a gender-equity mindset to marketing.

 

The curriculum is being developed by professors from Gender Studies and Marketing at top universities and institutions, including Baylor University, Bentley University, Harvard University, Howard University, Loyola University Chicago, Marquette University, Michigan State University, Rutgers University, The Smithsonian Institute, Texas Christian University, University of Illinois, and University of Miami.

 

The program is set to launch in September 2023. It will be open to undergraduate students studying Marketing, Communications, and Gender Studies, expanding to other disciplines, graduate students, and entry-level marketers.

 

“We are so proud to be a part of this new initiative, which is core to our SeeHer mission,” said Christine Guilfoyle, president, SeeHer, ANA. “It’s critical that the next generation of marketers and media leaders bring a gender-equal mindset to the content they create and stories they tell throughout marketing, media, and entertainment.”

 

Gord McLean, president, CEO, AEF, added, “The goal of SeeHer Education is to eliminate gender bias from marketing and advertising from the outset by giving professors and students open access to cutting-edge, interactive educational materials. It’s been a wonderful experience to see marketing professionals and educators working so closely together to advance what is clearly such an important common cause.”

 

Elements will also include modules for in-classroom use by professors and joint industry and academic events led by SeeHer and AEF.

 

SeeHer member DoubleVerify, a leading software platform for digital media measurement, is the first industry partner for SeeHer Education.

 

ABOUT THE ANA

The ANA’s (Association of National Advertisers) mission is to drive growth for marketing professionals, brands and businesses, the industry, and humanity. The ANA serves the marketing needs of 20,000 brands by leveraging the 12-point ANA Growth Agenda, which has been endorsed by the Global CMO Growth Council. The ANA’s membership consists of U.S. and international companies, including client-side marketers, nonprofits, fundraisers, and marketing solutions providers (data science and technology companies, ad agencies, publishers, media companies, suppliers, and vendors). The ANA creates Marketing Growth Champions by serving, educating, and advocating for more than 50,000 industry members that collectively invest more than $400 billion in marketing and advertising annually.

 

ABOUT THE AEF

ANA Educational Foundation (AEF) is the bridge that connects the advertising, marketing, and academic communities. We educate and inspire the next generation of talent while advancing the understanding of marketing and advertising in society. Created in 1983 and supported by its three constituencies, advertising, media, and marketing, the AEF is a 501(c)3 operating foundation. We create and distribute educational content to improve the understanding and appreciation of the societal role of advertising and marketing through our programs on college campuses across the country.

 

ABOUT SEEHER

SeeHer is the leading global movement of media, marketing, and entertainment leaders committed to the accurate depiction of women and girls in advertising and media. Launched in 2016 by the Association of National Advertisers (ANA) in partnership with The Female Quotient (The FQ), SeeHer is changing how women are portrayed in media. To help members benchmark success, SeeHer spearheaded the development of the Gender Equality Measure® (GEM®), the first research methodology that quantifies gender bias in ads and programming. GEM® proves that content accurately portraying women and girls dramatically increases both purchase intent and brand reputation. The GEM® methodology quickly became the industry standard, winning the prestigious ESOMAR Research Effectiveness Award, leading to its global rollout in 2018. The movement has expanded its verticals to include sports (SeeHer In Sports), music (SeeHer Hear Her) and health (SeeHer Health.) Follow SeeHer on Instagram, Facebook, LinkedIn, TikTok and Twitter.

Contacts

Christa Dallas, Wolf-Kasteler Public Relations

Email: christad@wk-pr.com
Cell: 424-400-9379