Middlesex Water Q3 EPS $0.80, up 42.9% YoY; dividend raised 4.62%

MIDDLESEX WATER CO

2024-Q3 EPS reported $1.98 revenue$144,770,000

Diluted EPS $0.80 vs $0.56 YoY; net income $14.3M, up $4.3M.
Revenue $55.1M, up $8.4M, driven by NJ base rate increase and customer growth.
YTD net income $35.5M, up $9.8M; EPS $1.98 vs $1.44.
Quarterly dividend raised to $0.34/share, a 4.62% increase; payable Dec 2 to holders of record Nov 15.
Filed NJ DSIC rate application for $1.1M annual revenue; Tidewater interim rate increase in DE of ~$2.5M.

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