Brief: Middlesex Water Q2 EPS USD 0.6

Middlesex Water Co

31/07/2025 21:22

Overview

Middlesex Water Q2 revenue misses analyst expectations, reaching $49.3 mln

Diluted EPS for Q2 rises slightly to $0.60, driven by rate increases

Co invested $51 mln in infrastructure, 55% of 2025 capital budget

Outlook

Company's Delaware rate increase to boost annual revenue by $5.5 mln

Middlesex seeks $24.9 mln NJ rate increase to recover investment

Result Drivers

RATE INCREASES - Middlesex attributes revenue growth to rate increases and customer growth, despite lower consumption due to unfavorable weather

INFRASTRUCTURE INVESTMENT - Co invested $51 mln in infrastructure, representing 55% of its 2025 capital budget

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Operating Revenue
Miss
$49.32 mln
$51.30 mln (3 Analysts)
Q2 EPS
$0.6
Q2 Net Income
$10.78 mln
Q2 Operating Expenses
$35.41 mln
Q2 Operating Income
$13.91 mln
Q2 Pretax Profit
$12.19 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the water & related utilities peer group is "buy"

Wall Street's median 12-month price target for Middlesex Water Co is $66.00, about 21.3% above its July 30 closing price of $51.96

The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 25 three months ago

Press Release: ID:nGNXxlvYV

(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.)