Quarterly ResultApr 30, 2026, 04:19 PM
MSEX Q1 Diluted EPS $0.57; Net Income $10.6M; Revenue $48.7M
AI Summary
Middlesex Water Company reported strong financial results for the first quarter ended March 31, 2026, with diluted EPS increasing to $0.57 and net income rising to $10.6 million. Operating revenues grew to $48.7 million, driven by increased demand and rate adjustments in both the Middlesex and Tidewater Systems. The company also invested $21 million in infrastructure and declared a $0.36 cash dividend, marking 53 consecutive years of dividend increases.
Key Highlights
- Diluted EPS was $0.57, up from $0.53 in Q1 2025.
- Net income increased to $10.6 million from $9.5 million in Q1 2025.
- Operating revenues rose to $48.7 million, up from $44.3 million in Q1 2025.
- Operating expenses increased to $35.6 million from $32.7 million in Q1 2025.
- Invested $21 million in water and wastewater utility infrastructure.
- Declared a second quarter cash dividend of $0.36 per common share.
- Operating income increased to $13.1 million from $11.6 million in Q1 2025.