Middlesex Water Q2 net income $10.5M, up 6.5%; revenue $49.1M, up 14.8%

MIDDLESEX WATER CO

2024-Q2 EPS reported $1.18 revenue$49,146,000

Diluted EPS $0.59 vs $0.55 in prior year; net income $10.5M, up 6.5%.
Revenue $49.1M, increase driven by NJBPU-approved base rate increase effective March 1, 2024.
Year-to-date net income $5.5M increase; diluted EPS $1.18 vs $0.88, partly from $6.4M one-time cost recovery.
Quarterly dividend $0.325 per share payable Sept 3, 2024 to holders of record Aug 15, 2024.
Delaware general rate case expected to be filed in Q3 2024.

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