Middlesex Water Q3 EPS $0.80, up 23%; revenue $47.7M, +19.7% YoY; dividend raised 7.8%

MIDDLESEX WATER CO

2022-Q3 EPS reported $1.99 revenue$123,499,000

Q3 diluted EPS $0.80 vs $0.65 in 2021; net income $14.3M, up 24.5%.
Operating revenue $47.7M, up 19.7% YoY, driven by NJ base rate increase and weather demand.
Dividend increased 7.76% to $0.3125/share, annual rate $1.25, marking 50th consecutive year of increases.
Nine-month EPS $1.99 vs $1.66; revenues $123.6M, up $14.5M.
O&M expenses increased $1.4M due to main breaks, labor, fuel; income taxes up $3.0M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MIDDLESEX WATER CO reported third quarter ended September 30, 2022 results: revenue $47.7 million, net income $14.3 million, EPS $0.80.

Period: third quarter ended September 30, 2022
Revenue: $47.7 million
Net income: $14.3 million
EPS: $0.80
Result: reported results

Exact text from the filing

Consolidated operating revenues for the three months ended September 30, 2022 increased $7.9 million to $47.7 million compared to the same period in 2021.

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Source: SEC EDGAR

accession 0001174947-22-001121

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