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Sep 30, 2024
Artesian Q3 2024 Earnings Report
Artesian Resources Corporation's financial performance improved in Q3 2024, marked by increased revenues and net income.
Key Takeaways
Artesian Resources Corporation reported a strong third quarter in 2024, with a 9.7% increase in revenues to $29.1 million and a 34.4% increase in net income to $6.8 million, driven by higher water sales and effective expense management.
Revenues increased by 9.7% to $29.1 million due to higher water sales and customer growth.
Net income rose by 34.4% to $6.8 million compared to the same period last year.
Diluted net income per share increased to $0.66 from $0.49 year-over-year.
Water sales revenue increased by 11.3% due to temporary and final rate increases and higher consumption.
Revenue by Segment
Forward Guidance
Artesian is focused on investing in water quality initiatives and managing regulatory changes, with continued growth expected.
Positive Outlook
- Proactive investment in water quality initiatives.
- Addressing PFAS contamination and lead in water service lines.
- Working to identify and mitigate lead service line risks.
- Ongoing efforts to ensure high-quality reliable service.
- Continued investment in water and wastewater infrastructure.
Challenges Ahead
- Changes in weather impacting operations.
- Changes in contractual obligations.
- Changes in government policies.
- Potential failure to receive regulatory approval.
- Changes in economic and market conditions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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