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Jun 30, 2020
Middlesex Water Q2 2020 Earnings Report
Middlesex Water reported second quarter earnings with an increase in revenue and earnings per share compared to the same period in 2019.
Key Takeaways
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.
Second Quarter diluted earnings per share were $0.55, compared to $0.49 per share in 2019.
Consolidated operating revenues for the second quarter of 2020 were $35.3 million, compared to $33.4 million in 2019.
The increase in operating revenues is largely demand driven from residential and other retail water customers in the Middlesex System in New Jersey and from higher water consumption and customer growth in our Delaware systems.
Net income for the three months ended June 30, 2020 increased $1.6 million from the same period in 2019.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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