MSEX
Middlesex Water Company53.25
+0.18+0.34%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
976.49MP/E (TTM)
22.28Basic EPS (TTM)
2.39Dividend Yield
0.03%Recent Filings
8-K
Tweaks ATM sales agents
Middlesex Water amended its ATM equity offering sales agreement on February 20, 2026, dropping Janney Montgomery Scott as agent while adding Huntington Securities. The $110 million program for common stock sales at market prices stays unchanged in terms, commissions, and limits. Sales agent swap. No impact on ongoing offerings disclosed.
8-K
2025 EPS $2.36, down slightly
Middlesex Water reported 2025 net income of $42.8 million, down from $44.4 million in 2024, with diluted EPS slipping to $2.36 from $2.47 amid weather-hit consumption and one-time 2024 recoveries, yet revenues rose to $194.7 million on rate hikes and growth. NJBPU approved $14.5 million annual revenue boost effective February 23, 2026, plus RESIC/DSIC for $10.7 million recovery through 2028. Capex hit $96 million in 2025; $506 million planned 2026-2028. Dividends steady at $0.36 per share.
10-K
FY2025 results
Middlesex Water closed FY2025 ended December 31, 2025, with key infrastructure financing secured via two DWSRF general obligation bonds totaling $1.4M. Tidewater Utilities executed a $996,075 bond for the completed Supplemental Kendale Road Interconnection Project, extending a 16'' main for resiliency, with draws slated for January 2026. Southern Shores Water, managed by Tidewater, signed a $418,000 bond for the finished Lead Service Line Sea Colony vacuum excavation project targeting 160 sites, complying with EPA Lead and Copper Rule, draws planned for February 2026. No financial results disclosed. Projects completed on time. Regulatory changes pose compliance risks.
8-K
Hoglund joins board
Middlesex Water elected Robert Hoglund, ex-CFO of Consolidated Edison, to its board effective January 1, 2026, appointing him to Audit and Enterprise Risk Committees. Board cites his utility finance and M&A expertise to bolster governance. Meanwhile, amended employment deals for CFO Zerhouni and COO Sorensen add 30% target bonuses and 12-month severance. New blood sharpens oversight.
8-K
Q3 earnings dip amid weather woes
Middlesex Water reported third-quarter 2025 net income of $14.0 million and diluted EPS of $0.77, down slightly from $14.3 million and $0.80 last year due to lower consumption from unfavorable weather, offset by rate hikes and customer growth. The company invested $72 million in infrastructure through nine months, hitting 77% of its $93 million budget, and executed an asset purchase agreement for Pinewood Acres water utility in Delaware for $0.2 million, serving 350 customers to expand its reach. It also declared a $0.36 quarterly dividend, up 5.88%, marking 53 years of increases. Weather impacts persist.
IPO
Employees
Sector
Industry
ARIS
Aris Water Solutions, Inc.
23.69+0.00
ARTNA
Artesian Resources Corporation
32.17+0.02
AWK
American Water Works Company, I
132.72-1.41
AWR
American States Water Company
73.73-0.24
CWCO
Consolidated Water Co. Ltd.
36.19+0.00
ES
Eversource Energy (D/B/A)
67.89-0.48
NJR
NewJersey Resources Corporation
46.31+0.02
UUGRY
United Utilities Group PLC
31.50+0.00
WTRG
Essential Utilities, Inc.
38.31-0.12
YORW
The York Water Company
33.75-0.05