Middlesex Water Q2 revenue up 7.9% to $42.8M, EPS $0.55 vs $0.50

MIDDLESEX WATER CO

2023-Q2 EPS reported $0.88 revenue$42,801,000

Operating revenue $42.8M, +$3.1M YoY; diluted EPS $0.55, +10.0% YoY.
Net income increased $1.0M (11.6%) vs prior-year quarter.
Revenue driven by final phase of 2021 NJBPU base rate increase and higher contract demand.
New PFAS groundwater treatment facility in service, meeting all state and federal standards.
Quarterly dividend $0.3125/share declared, payable Sept 1, 2023 to holders of record Aug 11, 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MIDDLESEX WATER CO reported the quarter ended June 30, 2023 results: revenue $42.8 million, net income $1.0 million, EPS $0.55.

Period: the quarter ended June 30, 2023
Revenue: $42.8 million
Net income: $1.0 million
EPS: $0.55
Result: reported results

Exact text from the filing

of water and wastewater services, today announced second quarter financial results. Second Quarter Results Revenues for the quarter ended June 30, 2023 rose $3.1 million to $42.8 million compared to the same period in 2022. Middlesex System revenues increased $2.8 million due mostly to the implementation of the final phase of the 2021 New Jersey Board of Public

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Source: SEC EDGAR

accession 0001174947-23-000931

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