For the fourth quarter of 2025, Middlesex Water reported net income of $8605000 and diluted EPS of $0.46, slightly below the prior year quarter, primarily due to higher interest expense and income taxes, partially offset by higher operating income.
Middlesex Water Company experienced a slight decline in net income and diluted EPS in Q3 2025, reporting $14.0 million and $0.77 respectively, down from $14.3 million and $0.80 in Q3 2024. Operating revenues decreased by $1.0 million to $54.1 million, mainly due to lower consumption from unfavorable weather, while operating expenses also decreased by $1.2 million to $36.4 million. The company declared a quarterly cash dividend of $0.36 per common share, a 5.88% increase, and continued its infrastructure investment program.
Middlesex Water Company delivered a solid second quarter in 2025, with net income rising to $10.8 million and diluted EPS reaching $0.60. This growth was primarily fueled by rate increases and an expanding customer base, although partially offset by lower consumption due to unfavorable weather and higher operating expenses.
Middlesex Water Company reported net income of $9.5 million and diluted EPS of $0.53 for the first quarter of 2025. This represents a decrease from $10.7 million net income and $0.59 diluted EPS in the prior year quarter, primarily due to a one-time recovery in Q1 2024, partially offset by revenue growth from rate increases, customer growth, and increased consumption. Operating revenue for the quarter was $44.3 million.
Middlesex Water Company reported a significant increase in net income and diluted EPS for the fourth quarter of 2024, driven by a base rate increase in the Middlesex System, increased weather-driven customer demand, and new interim rates in Tidewater.
Middlesex Water Company reported an increase in revenue and net income for the third quarter of 2024. Revenue increased by $8.4 million to $55.1 million, and net income increased by $4.3 million to $14.3 million, compared to the same period in 2023. Diluted earnings per share were $0.80 compared to $0.56 for the three months ended September 30, 2023.
Middlesex Water Company reported an increase in net income and diluted earnings per share for the second quarter of 2024. Net income increased by 6.5% to $10.5 million, and diluted earnings per share rose to $0.59, compared to the same period in 2023. The increase was primarily driven by rate increases and customer growth.
Middlesex Water Company reported a rise in net income to $10.7 million for the first quarter of 2024, up from $5.9 million in the same period of 2023. The increase is mainly due to the recovery of operating and carrying costs associated with the prior period construction and operation of water treatment facilities. Quarterly consolidated operating revenues also increased by $2.4 million to $40.5 million compared to the same period in 2023.
Middlesex Water Company reported a decrease in net income for the year ended December 31, 2023, to $31.5 million, compared to $42.4 million in 2022. Despite increased operating revenues, higher operation and maintenance expenses and depreciation contributed to the decline in net income. The company continued to invest in infrastructure and increased the dividend by 4.0% in the fourth quarter.
Middlesex Water Company reported a decrease in revenues by $1.0 million to $46.7 million for the third quarter of 2023 compared to the same period in 2022. Net income decreased by $4.3 million, with diluted earnings per share falling to $0.56 from $0.80 in Q3 2022. The revenue decline was attributed to lower customer demand and rate adjustments in the Delaware System, while increased operations and maintenance expenses also impacted profitability.
Middlesex Water Company reported an increase in operating revenue by 7.9% and net income by 11.6% for the second quarter of 2023. Revenues rose by $3.1 million to $42.8 million, and diluted earnings per share increased to $0.55 from $0.50 in the same period last year.
Middlesex Water Company reported first quarter results with a rise in operating revenues but a decrease in net income and diluted earnings per share compared to the same period in 2022. The decrease in net income was primarily due to a gain on the sale of a subsidiary in the first quarter of 2022. Operating revenues increased due to rate increases and higher contract customer demand.
Middlesex Water Company reported an increase in consolidated operating revenues to $162.4 million for the year ended December 31, 2022, up from $19.3 million in 2021. Net income increased to $42.4 million, or $2.39 per share.
Middlesex Water Company reported an increase in third quarter diluted earnings per share to $0.80, compared to $0.65 per share for the same period in 2021. Net income increased by $2.8 million to $14.3 million. Consolidated operating revenues for the quarter increased by $7.9 million to $47.7 million compared to the same period in 2021.
Middlesex Water Company reported an increase in operating revenues for the second quarter of 2022, but net income and earnings per share decreased compared to the same period in 2021. The revenue increase was primarily due to a base rate increase in the New Jersey system, while the decrease in net income was attributed to higher operation and maintenance expenses and increased income taxes.
Middlesex Water Company reported an increase in first quarter revenue to $36.2 million and net income increased by $5.2 million compared to the same period in 2021. Diluted earnings per share were $0.68 for the quarter ended March 31, 2022.
Middlesex Water Company reported a decrease in operating revenues and net income for the fourth quarter of 2021. Operating revenues decreased to $34.0 million from $34.6 million in the same period of 2020. Net income decreased to $7.2 million from $8.3 million for the same period in 2020.
Middlesex Water Company reported third quarter diluted earnings per share of $0.65, a decrease compared to $0.72 per share for the same period in 2020. Net income decreased $1.3 million to $11.5 million. Consolidated operating revenues of $39.9 million were comparable to the same period last year.
Middlesex Water Company reported second quarter diluted earnings per share of $0.62, compared to $0.55 per share for the same period in 2020. Net income increased by $1.2 million to $10.9 million. Consolidated operating revenues increased by $1.4 million to $36.7 million.
Middlesex Water Company reported a decrease in net income for the quarter ended March 31, 2021. Diluted earnings per share were $0.39, compared to $0.44 for the same period in 2020. Operating revenues rose 2.4% to $32.5 million compared to the same period in 2020.
Middlesex Water Company reported an increase in operating revenues for the fourth quarter of 2020, rising to $34.6 million from $32.7 million in the same period of 2019. Net income also saw an increase, reaching $8.3 million compared to $8.1 million in the prior year's quarter.
Middlesex Water Company reported consolidated operating revenues of $39.9 million and diluted earnings per share of $0.72 for the three months ended September 30, 2020. Net income for the quarter was $12.7 million, a $1.6 million increase from the same period in 2019.
Middlesex Water Company reported an increase in operating revenues and diluted earnings per share for the second quarter of 2020 compared to the same period in 2019. The increase in operating revenues was largely driven by demand from residential and other retail water customers and from higher water consumption and customer growth in Delaware systems.
Middlesex Water Company reported a consolidated operating revenue increase of $1.1 million compared to 2019, primarily due to increased demand from wholesale contract customers and customer growth in Delaware water systems. Diluted earnings per share were reported at $0.44, $0.05 higher than the same period in 2019. Net income increased by $1.1 million compared to the same period in 2019.
Middlesex Water Company reported a decrease in operating revenues and operations and maintenance expenses. Net income increased compared to the same period in 2018.