ISELIN, N.J., Sept. 20, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ:MSEX) has announced that its Vice President of Enterprise Engineering, G. Christian Andreasen, Jr. P.E. will be speaking at the Second Annual Gabelli Funds PFAS Symposium on Thursday, September 26 at 2:30 pm (ET) at the Harvard Club in New York City. The event will bring together leading experts, policy makers and industry executives to discuss critical issues related to PFAS (Per- and Polyfluoroalkyl substances) a group of che ...

ISELIN, N.J., Sept. 17, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company (the “Company” or “Middlesex Water”) has announced that its President and Chief Executive Officer, Nadine Leslie, and Senior Vice President, Chief Financial Officer and Treasurer, Mohammed G. (Rally) Zerhouni, will be participating in the 4th Annual Virtual Water Utilities Conference hosted by Janney Montgomery Scott on Thursday, September 19, 2024 at 1:00 p.m. (ET). Ms. Leslie and Mr. Zerhouni will be providing a Company update. The C ...

Middlesex Water (MSEX) came out with quarterly earnings of $0.59 per share, missing the Zacks Consensus Estimate of $0.64 per share. This compares to earnings of $0.55 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -7.81%. A quarter ago, it was expected that this water utility would post earnings of $0.45 per share when it actually produced earnings of $0.59, delivering a surprise of 31.11%.Over the last four quarters, the co ...

Second Quarter 2024 Net Income was $10.5 million, as compared to $9.9 million in 2023, an increase of 6.5%.Second Quarter 2024 Revenues were $49.1 million, as compared to $42.8 million in 2023, an increase of 14.8%.Dividend of $0.325 per share of common stock payable in September 2024 ISELIN, N.J., July 31, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company (“Middlesex” or the “Company”) (NASDAQ:MSEX) a provider of water and wastewater services, today reported financial results for the second quarter ended Ju ...

营业收入 - 公司2024年第二季度营业收入为49,146千美元，同比增长15%[131,132] - 受益于2024年3月1日生效的基本水费率上调以及商业和工业客户用水量增加，Middlesex系统收入增加5,200千美元[134] - Tidewater系统收入增加600千美元，主要由于客户数量增长和用水量上升[134] - 非监管业务收入增加400千美元，主要来自于合同服务收入增加[134] - Pinelands收入增加100千美元，主要由于2023年基本水费率上调[134] - 中塞系统收入增加680万美元，主要由于2024年3月1日生效的基本费率上调和商业及工业客户账单增加[144] - 泰德沃特系统收入增加140万美元，主要由于客户增长和客户需求增加[144] 营业利润 - 公司2024年第二季度营业利润为15,315千美元，同比增长44%[131,132] 净利润 - 公司2024年第二季度净利润为10,546千美元，同比增长6%[131,133] 基础设施升级 - 公司持续进行基础设施升级改造项目，包括更换17,000英尺铸铁管道、更新水处理厂控制室和电力设备等[123,130] 费率上调申请 - 公司预计将于2024年第三季度就Tidewater系统提出基本水费率上调申请，并可能就Pinelands Water和Pinelands Wastewater系统提出基本水费率上调申请[126] 客户增长 - 公司Tidewater系统2023年有机住宅客户增长约4%[127] 运营成本 - 中塞系统运营和维护费用增加80万美元，主要由于人工成本和福利费用增加140万美元[146] - 中塞系统其他税费增加130万美元，主要由于总收入税和工资相关税费增加[148] 其他收益 - 其他收益净额增加420万美元，主要由于回收中塞公园大道厂PFAS处理的持续成本和退休福利计划非服务成本增加[149] 利息费用 - 利息费用增加150万美元，主要由于平均债务和平均借款利率上升[150] 所得税费用 - 所得税费用增加430万美元，主要由于税前利润增加和中塞公司3M和解协议收益的应税部分回收[151] 3M和解协议 - 公司获得3M公司6360万美元和解协议款项，用于偿还信用额度并支持资本项目[158] 资本建设项目 - 中塞公司获得NJBPU批准可借入最多3亿美元用于多年资本建设项目[159] - 泰德沃特公司获得DEPSC批准5笔总计560万美元的特拉华州SRF贷款，用于管线建设和水处理设施[160]

财务业绩 - 第二季度2024年净收入为1050万美元，比2023年增加6.5%[3] - 第二季度2024年收入为4910万美元，比2023年增加14.8%[4] - 2024年上半年净收入增加550万美元，每股收益从0.88美元增加到1.18美元[6] - 2024年上半年收入增加870万美元，主要来自于新泽西州公用事业委员会批准的基本费率上调和商业及工业客户账单增加[7] - 2024年上半年运营和维护费用增加80万美元，主要由于劳动力成本增加、德拉华系统的铅管线库存合规成本以及专业服务费用增加[8] - 2024年上半年所得税费用增加430万美元，主要由于税前利润增加和中塞克斯系统修缮支出税收优惠减少[8] 股息分配 - 2024年9月将派发每股0.325美元的股息[10] 未来计划 - 公司将继续专注于巩固增长和继任计划、满足客户对优质供水服务的需求,并通过RENEW和Water for Tomorrow®计划投资新泽西州的供水基础设施[9] - 公司预计将于2024年第三季度在德拉华州提交一般费率案,以维护基础设施抗灾能力并遵守各项法规[9]

Middlesex Water (MSEX) shares soared 5.1% in the last trading session to close at $59.41. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 8.7% gain over the past four weeks.Middlesex Water Company benefits from rising demand from its stable residential customer base and supportive regulatory environment. Middlesex Water makes steady investments to improve its utility infrastructure and provide quality services to its customers. C ...

ISELIN, N.J., June 10, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ: MSEX) has named Mohammed G. (Rally) Zerhouni as its new Senior Vice President, Chief Financial Officer and Treasurer effective June 24, 2024, as part of its ongoing strategic succession planning efforts. Zerhouni joins Middlesex following a comprehensive search for a successor to Senior Vice President, Treasurer and Chief Financial Officer, A. Bruce O’Connor, who will retire from the Company effective June 21, 2024, after 34 ye ...

ISELIN, N.J., June 10, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ: MSEX) has named Mohammed G. (Rally) Zerhouni as its new Senior Vice President, Chief Financial Officer and Treasurer effective June 24, 2024, as part of its ongoing strategic succession planning efforts. Zerhouni joins Middlesex following a comprehensive search for a successor to Senior Vice President, Treasurer and Chief Financial Officer, A. Bruce O’Connor, who will retire from the Company effective June 21, 2024, after 34 ye ...

Middlesex Water (MSEX) announced that it is about to initiate a $9.7 million project to upgrade the drinking water infrastructure of Woodbridge, NJ. The company's RENEW project is expected to renovate 18,550 linear feet of water mains, including hydrants, service lines and valves, beginning June 2024. This is the 29th year of Middlesex Water’s RENEW Program, where it systematically seeks to preserve public health and maintain system resilience by strategically updating water infrastructure, each year in a d ...