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Sep 30, 2024
Middlesex Water Q3 2024 Earnings Report
Middlesex Water's third quarter earnings increased due to rate increases and customer demand.
Key Takeaways
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.
Diluted earnings per share were $0.80 for the three months ended September 30, 2024.
Net income for the quarter was $14.3 million, a $4.3 million increase compared to the same period in 2023.
Revenues for the quarter ended September 30, 2024, increased $8.4 million to $55.1 million, compared to the same period in 2023.
Middlesex System revenues increased $6.1 million due primarily to the New Jersey Board of Public Utilities (NJBPU)-approved base rate increase effective March 1, 2024, and increased customer demand.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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