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.
Diluted earnings per share increased to $0.60, up from $0.59 in the prior year's quarter.
Net income for the quarter rose to $10.8 million, compared to $10.5 million in the second quarter of 2024.
Operating revenues for the quarter were $49.3 million, a slight increase from $49.1 million in the same period last year.
The company invested $51 million in water and wastewater utility infrastructure during the first half of 2025, representing approximately 55% of its planned annual capital budget.
Middlesex Water Company anticipates continued growth and investment, supported by recent rate case outcomes and ongoing infrastructure programs. The company is focused on recovering prudently incurred investments and enhancing service reliability.
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