Middlesex Water Q2 EPS $0.60; Delaware rate settlement adds $5.5M; NJ rate filing seeks $24.9M increase

MIDDLESEX WATER CO

2025-Q2 EPS reported $1.13 revenue$93,558,000

Net income of $10.8M ($0.60 diluted EPS) vs $10.5M ($0.59) in Q2 2024; YTD net income $20.3M ($1.13) vs $21.3M ($1.18).
Invested $51M in infrastructure in H1 2025, ~55% of planned $93M annual capital budget.
Delaware rate case settlement approved: $5.5M annual revenue increase, 9.5% ROE, 53.5% equity ratio; new rates effective July 3, 2025.
New Jersey utilities filed for $24.9M (19.3%) base rate increase to recover $100M of environmental compliance investments.
Board declared $0.34 quarterly dividend, payable Sep 2, 2025 to holders of record Aug 15, 2025.

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