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Sep 30, 2020
Middlesex Water Q3 2020 Earnings Report
Reported earnings per share of $0.72, compared to $0.66 per share in the same period in 2019.
Key Takeaways
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.
Diluted earnings per share were $0.72, up from $0.66 in the same period of 2019.
Consolidated operating revenues increased to $39.9 million from $37.8 million in the same period of 2019.
The revenue increase was driven by higher water consumption, customer growth in Delaware, and new non-regulated revenues.
Operation and maintenance expenses increased due to higher production costs and employee benefit plan expenses.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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