Artesian Resources Q1 net income up 23% to $5.4M; files for 10.75% rate hike

ARTESIAN RESOURCES CORP

2025-Q1 EPS reported $0.53 vs consensus $0.36 ▲ beat (+47.0%)

Diluted EPS $0.53 vs $0.43 YoY; revenue $25.9M (+5.5%).
Filed rate case seeking 10.75% revenue increase (~$9.4M annual); temporary 1.22% from June 3.
Entered electric supply contract with 25% rate increase; expects ~$0.5M annual higher costs.
Capital expenditures $10.4M in Q1; water and wastewater infrastructure investments.
Operating expenses up 3.1%; utility op ex up due to admin, purchased power/water costs.

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