Middlesex Water Q1 net income rises 82% to $10.7M; EPS $0.59 vs $0.33

MIDDLESEX WATER CO

2024-Q1 EPS reported $0.59 revenue$40,524,000

Net income rose 82.1% to $10.7M; diluted EPS $0.59 vs $0.33 YoY.
Revenue increased 6.2% to $40.5M, driven by NJ base rate increase and higher Delaware demand.
Quarterly dividend declared $0.325/share, payable June 3, 2024 to holders of record May 15.
NJBPU base rate case recovery of Park Avenue Wellfield treatment facility costs contributed to earnings.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MIDDLESEX WATER CO reported the quarter ended March 31, 2024 results: revenue $40.5 million, net income $10.7 million, EPS $0.59.

Period: the quarter ended March 31, 2024
Revenue: $40.5 million
Net income: $10.7 million
EPS: $0.59
Result: reported results

Exact text from the filing

2023, an increase of 82.1% · First Quarter 2024 Diluted Earnings Per Share were $0.59, as compared to $0.33 in 2023, an increase of 78.8% · First Quarter 2024 Revenues were $40.5 million, as compared to $38.2 million in 2023, an increase of 6.2% · 2024 Capital Investment Plan Delivery on schedule · Dividend of $0.325 per share of common stock payable in June

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Source: SEC EDGAR

accession 0001174947-24-000711

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