UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
 


FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

Date of Report
May 15, 2015
(Date of earliest event reported)

SOUTH JERSEY INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)

New Jersey
1-6364
22-1901645
(State of incorporation)
(Commission File Number)
(IRS employer identification no.)

1 South Jersey Plaza, Folsom, New Jersey 08037
(Address of principal executive offices, including zip code)

(609) 561-9000
(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17  CFR 240.14d-2(b))

o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))








Item 7.01 Regulation FD Disclosure

On May 17, 2015 South Jersey Industries, Inc. (“SJI”) will present information to industry securities analysts about its projected 2015 financial results and future prospects at the AGA Financial Forum in Palm Desert, CA. The slide presentation is attached hereto as Exhibit 99. SJI does not intend for this Item 7.01 or Exhibit 99, to be treated as “filed” under the Securities Exchange Act of 1934, as amended, or incorporated by reference into its filings under the Securities Act of 1933, as amended.

Forward-Looking Statement
This presentation contains forward-looking statements. All statements other than statements of historical fact included in this presentation should be considered forward-looking statements made in good faith by the Company and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. When used in this presentation words such as “anticipate”, “believe”, “expect”, “estimate”, “forecast”, “goal”, “intend”, “objective”, “plan”, “project”, “seek”, “strategy” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the statements. These risks and uncertainties include, but are not limited to, the following: general economic conditions on an international, national, state and local level; weather conditions in our marketing areas; changes in commodity costs; the timing of new projects coming on-line; changes in the availability of natural gas; “non-routine” or “extraordinary” disruptions in our distribution system; regulatory, legislative and court decisions; competition; the availability and cost of capital; costs and effects of legal proceedings and environmental liabilities; the failure of customers, suppliers or business partners to fulfill their contractual obligations; and changes in business strategies. SJI assumes no duty to update these statements should actual events differ from expectations. For a full discussion of the risk factors which could affect future performance, please reference SJI's Form 10-K for the year ended December 31, 2014 and Form 10-Q for the quarter ended March 31, 2015.


Item 9.01. Financial Statements and Exhibits

Exhibit 99. South Jersey Industries, Inc. slide presentation which will be presented to the financial community at the AGA Financial Forum on May 17, 2015.



SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 
SOUTH JERSEY INDUSTRIES, INC.
 
 
 
 
 
Date: May 15, 2015
By:
 /s/ Stephen H. Clark
 
 
 
Stephen H. Clark
 
 
 
Chief Financial Officer
 












AGA FINANCIAL FORUM South Jersey Industries MAY 18, 2015 1

 
2 Certain statements contained in this presentation may qualify as “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact included in this Report should be considered forward-looking statements made in good faith by South Jersey Industries (SJI or the Company) and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. When used in this presentation, or any other of the Company's documents or oral presentations, words such as “anticipate,” “believe,” “expect,” “estimate,” “forecast,” “goal,” “intend,” “objective,” “plan,” “project,” “seek,” “strategy” and similar expressions are intended to identify forward- looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the statements. These risks and uncertainties include, but are not limited to the risks set forth under “Risk Factors” in Part I, Item 1A of our Annual Report on Form 10-K. These cautionary statements should not be construed by you to be exhaustive and they are made only as of the date of this Report. While the Company believes these forward-looking statements to be reasonable, there can be no assurance that they will approximate actual experience or that the expectations derived from them will be realized. Further, SJI undertakes no obligation to update or revise any of its forward-looking statements whether as a result of new information, future events or otherwise. Forward Looking Statements

 
3 South Jersey Industries Grow Economic Earnings Improve Quality of Earnings Strengthen Balance Sheet Maintain Low to Moderate Risk Profile Strategic Focus

 
4 South Jersey Industries South Jersey Gas SJI Midstream South Jersey Energy Solutions Regulated Natural Gas Utility Regulated Pipeline Company SJ Energy Services Develop & operate on site energy generation projects; HVAC maint. & repair SJ Energy Group Wholesale and retail gas marketing, retail electric marketing, fuel mgm’t. services Regulated Non-utility Organization of Business

 
Management Team 5 Michael J. Renna President & CEO Stephen H. Clark SVP CFO Jeffrey E. DuBois EVP SJG David Robbins, Jr. SVP SJ Energy Services Gregory M. Nuzzo SVP SJ Energy Group Gina Merritt-Epps, Esq. SVP, General Counsel & Corporate Secretary Kathleen A. McEndy SVP Human Resources Walter M. Higgins III Chairman, SJI Board Kenneth Lynch SVP CAO

 
6 Earnings & Dividend Growth $0.73 $0.81 $0.89 $0.95 $1.01 0.5 0.6 0.7 0.8 0.9 1 1.1 2010 2011 2012 2013 2014 $81.0 $87.0 $93.3 $97.1 $104.0 0 20 40 60 80 100 120 2010 2011 2012 2013 2014 Growing Economic Earnings Growing the Annual Dividend* *Reflects May 2015 Stock Split $ in millions

 
7 Economic Earnings ($ in millions) Economic EPS Q1 2015 Performance $66.2 $58.9 $10 $20 $30 $40 $50 $60 $70 $80 2014 2015 $1.01 $0.86 $0.50 $0.65 $0.80 $0.95 $1.10 $1.25 2014 2015

 
8 $18.2 $7.8 $0 $5 $10 $15 $20 Q1 2015 Q1 2014 YOY Commodity Business Impacts Economic Earnings $13.0 $14.0 $0 $5 $10 $15 $20 FY 2015 - Projected FY 2014 $ in millions

 
Near Term Earnings Growth 2015 Economic EPS Growth of 2%-8% Utility Infrastructure Investments Utility Customer Growth Transportation Assets/Fuel Management Energy Production 9

 
SOUTH JERSEY GAS 10

 
Investment Aggregate Incremental Benefit ($ in millions) 2016 - 2020 AIRP $9.0 SHARP $9.0 Customer Growth $11.8 CNG/EET $4.8 BL England $3.4 Future Rate Case $15.0 Projected Offsets (includes estimates for depreciation, interest, O&M,etc.) $(23.0) Total Incremental Benefit $30.0 11 Utility Growth Summary

 
12 Utility Infrastructure Investment • Utility rate base increased to $1.2 billion • Equity-to-capital ratio of 51.9% • Return on equity of 9.75% • Customer margin increase  $265 to $293 • Customer impact  Current bills lower than 2005 Rate Case Completion

 
13 Utility Infrastructure Investment 2015 Utility Projected Infrastructure Investment Regular Cap-Ex AIRP SHARP CNG Liquifier BL England

 
2015 Utility Customer Growth YTD additions (3/31)  2,100 2/3 conversion, 1/3 new construction Full year net additions targeted  6,950 40% - 70% savings versus oil/propane or electric 14

 
SJI MIDSTREAM 15

 
16 $200 million investment, with FERC level return projected • 20% equity owner in $1 billion, 1 BCF, 105-mile interstate pipeline from Marcellus region of PA into NJ • Late 2017 targeted in-service date • “Pull” project based on market demand, with expansion potential • Fully subscribed pipeline with 80% of capacity under 15-year agreements with multiple utility and energy affiliates of project sponsors • SJI’s 2015 spend ~$5M PennEast Pipeline Project

 
PennEast Pipeline 17

 
SJ ENERGY SOLUTIONS 18

 
Business Line 2020 % Composition of Earnings Wholesale & Retail Commodity 11% - 14% Fuel Management 6% - 9% Energy Production 2% - 4% Other (HVAC, Meter Reading, SJEX) 1% - 2% Total Dollar Contribution by 2020 $30 - $40 Million 19 Non-Utility Growth Summary

 
Fuel Supply Management Facility Operational Date DTs per day contracted Value NextEra 50 mw, simple cycle, PA based 2004 Evergreen, 80K Dts per day Economic Earnings Contribution = $10 to $12 million by 2020 LS Power 738 mw, combined cycle, NJ based 2014 15-year, 36K DTs per day Panda Liberty 829 mw, combined cycle, PA based 2015 5-year, up to 137K DTs per day Panda Patriot 829 mw, combined cycle, PA based Late 2015 4-year contract, up to 137K DTs per day Panda Stonewall 750 mw, combined cycle, VA based 2017 4-year contract, 110K DTs per day 4 Additional Contracts • 2 already executed, pending announcement • At least 2 additional contracts expected by 2020 20

 
Energy Production Assets 21 CHP – Operating assets continue to perform well SOLAR – Selective project development – Capitalize on lower development costs and improving SREC values LANDFILLS – Addressing challenges at most problematic sites to improve output

 
Revel Update • Revel Casino filed bankruptcy on June 19, 2014 • $2.4 billion casino/hotel complex sold to Florida development group Polo North, on April 7, 2015 for $82 million • On-going negotiations aimed at long-term contract for ACR facility to serve Revel property 22

 
LOOKING AHEAD 23

 
24 Strategic Priorities Grow Economic Earnings Improve Quality of Earnings Strengthen Balance Sheet Maintain Low to Moderate Risk Profile $150 Million Economic Earnings by 2020

 
Executing on Strategic Priorities 25  Grow earnings from operations Target 70%-80% earnings contribution from utility and midstream  Achieve 50% debt-to-equity ratio with very minimal dilution  Commitment to core, proven non-utility assets where risk can be hedged

 
26 Contribution to Economic Earnings Business Unit 2014 2020 Projected Utility 63% 64% - 70% Midstream --- 8% - 12% Energy Services 24% 2% - 5% Energy Group 13% 17% - 22%

 
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