Artesian Resources Q2 revenue rises 7.4% on rate hikes, customer growth

Artesian Resources

06/08/2026 21:17

Overview
US water utility's Q2 revenue rose 7.4% yr/yr, driven by rate hikes and customer growth
Diluted EPS for Q2 increased 4.9% yr/yr
Operating expenses rose due to higher payroll, supply, and administrative costs

Outlook
Company did not provide specific financial guidance for the current or future periods

Result Drivers
RATE INCREASES - Temporary rate hikes under Delaware law lifted water sales revenue
CUSTOMER GROWTH - Increase in number of customers served boosted water and wastewater revenues
SLP PLAN FEES - Higher fees and participation in Service Line Protection Plans raised non-utility revenue

Company press release: ID:nGNX9mQ18p

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Water Sales
 
$24.43 mln
 
Q2 EPS
 
$0.64
 
Q2 Net Income
 
$6.58 mln
 
Q2 Basic EPS
 
$0.64
 
Q2 Operating Income
 
$8.62 mln
 
Q2 Utility Operating Expenses
 
$13.44 mln
 

Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the water & related utilities peer group is "buy"
Wall Street's median 12-month price target for Artesian Resources Corp is $43.00, about 26.2% above its August 5 closing price of $34.07

Reuters Recommended Reads
Aug 6 - York Water's Q2 revenue, EPS rise on higher rates and customer growth
Aug 5 - American States Water Q2 EPS rises 25% on rate hikes and demand
Aug 4 - Essential Utilities Q2 adjusted EPS beats estimates

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)