Middlesex Water reports 2024 EPS $2.47 vs $1.76; revenue up to $191.9M

MIDDLESEX WATER CO

2024-FY EPS reported $2.47 revenue$191,877,000

Net income $44.4M, diluted EPS $2.47 for 2024 vs. $31.5M ($1.76) in 2023, driven by base rate increase and one-time recovery.
Revenue $191.9M, up $25.6M (15.4%) YoY on rate hike and weather-driven demand across NJ and DE systems.
Invested $75M in infrastructure in 2024; plans $387M (2025-2027), including $105M for PFAS treatment.
Tidewater subsidiary approved to acquire Ocean View water assets for ~$4.6M (~900 customers); close expected by April 2025.
Q1 2025 dividend declared at $0.34/share, payable March 3, 2025; 52 consecutive years of increases.

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