Quarterly ResultMay 5, 2026, 05:16 PM
Artesian Resources Q1 Diluted EPS $0.57, Net Income +9.2%
AI Summary
Artesian Resources Corporation announced strong first-quarter 2026 earnings, with diluted net income per share increasing 7.5% to $0.57. Net income rose 9.2% to $5.9 million, and total revenues grew 7.3% to $27.8 million, driven by increases in water sales and other utility and non-utility operating revenues. The company also invested $13.1 million in critical water and wastewater infrastructure projects during the quarter to ensure reliable service and meet regulatory standards.
Key Highlights
- Diluted net income per share increased 7.5% to $0.57 from $0.53 in Q1 2025.
- Net income rose 9.2% to $5.9 million for Q1 2026, up from $5.4 million.
- Total revenues increased 7.3% to $27.8 million for Q1 2026.
- Water sales revenue grew 7.3% or $1.5 million, due to temporary rate increases and more customers.
- Other utility operating revenue increased 6.2% or $0.2 million.
- Non-utility operating revenue increased 9.5% or $0.2 million.
- Operating expenses, excluding depreciation and income taxes, increased 5.7% or $0.9 million.
- Invested $13.1 million in water and wastewater infrastructure projects in Q1 2026.