• NewJersey Resources average gross margin for 2023 was 46.88%, a 44.16% increase from 2022.
• NewJersey Resources average gross margin for 2022 was 32.52%, a 16.34% increase from 2021.
• NewJersey Resources average gross margin for 2021 was 38.87%, a 22.77% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.