NASDAQ$MSEX
Middlesex Water Company · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Middlesex Water's financial performance improved with revenue and net income increases.
Middlesex Water Company reported an increase in operating revenue by 7.9% and net income by 11.6% for the second quarter of 2023. Revenues rose by $3.1 million to $42.8 million, and diluted earnings per share increased to $0.55 from $0.50 in the same period last year.
- Operating revenue increased by 7.9% due to rate increases and higher customer demand.
- Net income increased by 11.6% compared to the same quarter last year.
- Diluted earnings per share rose from $0.50 to $0.55.
- New facility to treat ground water for PFAS compounds has been constructed and is in service.
Headline financials
Revenue & EPS history
Middlesex Water · Revenue · Quarterly
$42.8M
Forward guidance
Middlesex Water is in a period of significant transition, executing succession plans, investing to adapt to new regulatory requirements, managing rate filing proceedings, and managing resources to meet customer needs during the peak summer season.
Tailwinds
- Executing succession plans
- Investing to adapt to new regulatory requirements
- Managing rate filing proceedings
- Responsibly managing resources to meet customer needs during peak summer season
- New facility to treat ground water for PFAS compounds has been constructed
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
-0.6%
Avg return
Earnings day
-0.0%
Avg return
5 days after
+1.3%
Avg return
30 days after
42%
27 / 65 earnings
Positive
+15.8%
Q4 2024
Best reaction
-12.2%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.1% | +0.5% | +3.1% | |
| Q4 2025 | -0.6% | +0.3% | -7.9% | |
| Q3 2025 | -12.2% | -8.1% | -10.8% | |
| Q1 2025 | -4.0% | -3.6% | -7.7% | |
| Q4 2024 | +15.8% | +21.9% | +27.9% | |
| Q3 2024 | +4.5% | +7.0% | +4.7% | |
| Q2 2024 | -0.3% | -4.5% | -4.7% | |
| Q1 2024 | +4.6% | +6.3% | -3.4% | |
| Q4 2023 | +0.4% | +0.8% | +2.7% | |
| Q3 2023 | -2.8% | +4.8% | +6.5% | |
| Q2 2023 | -1.6% | -1.6% | -3.4% | |
| Q1 2023 | -4.9% | +1.2% | +11.5% | |
| Q4 2022 | -6.1% | -9.1% | -8.0% | |
| Q3 2022 | +2.3% | -1.9% | +8.3% | |
| Q2 2022 | -7.1% | -3.1% | -4.8% | |
| Q1 2022 | -5.0% | -1.1% | -3.3% | |
| Q4 2021 | +2.1% | +2.9% | +4.7% | |
| Q3 2021 | -7.2% | -6.9% | -4.0% | |
| Q2 2021 | +2.6% | +5.6% | +5.8% | |
| Q1 2021 | -1.0% | +0.4% | +6.3% | |
| Q4 2020 | -3.4% | -1.7% | +11.5% | |
| Q3 2020 | +2.1% | -1.1% | +4.9% | |
| Q2 2020 | +1.7% | +1.3% | -0.1% | |
| Q1 2020 | +0.1% | +1.7% | +12.1% | |
| Q4 2019 | -9.2% | -3.5% | -12.7% | |
| Q3 2019 | -3.8% | -5.5% | -6.6% | |
| Q2 2019 | -6.5% | -8.4% | -1.7% | |
| Q1 2019 | -1.8% | +4.8% | +3.1% | |
| Q4 2018 | +4.1% | +3.4% | -3.1% | |
| Q3 2018 | +11.1% | +20.0% | +18.8% | |
| Q2 2018 | -1.4% | +2.5% | +5.8% | |
| Q1 2018 | -1.9% | -0.7% | +0.6% | |
| Q4 2017 | +1.8% | -1.1% | +5.2% | |
| Q3 2017 | -0.2% | +0.5% | +5.9% | |
| Q2 2017 | +1.3% | +0.4% | -3.2% | |
| Q1 2017 | -2.2% | -6.7% | -2.2% | |
| Q4 2016 | -4.9% | -8.5% | -4.2% | |
| Q3 2016 | -4.6% | -5.3% | +14.4% | |
| Q2 2016 | -3.7% | -5.7% | -19.6% | |
| Q1 2016 | +1.5% | — | — | |
| Q4 2015 | +6.9% | — | — | |
| Q3 2015 | -1.1% | — | — | |
| Q2 2015 | -0.7% | — | — | |
| Q1 2015 | -2.4% | — | — | |
| Q4 2014 | -2.6% | — | — | |
| Q3 2014 | +0.6% | — | — | |
| Q2 2014 | +0.6% | — | — | |
| Q1 2014 | +0.5% | — | — | |
| Q4 2013 | +0.7% | — | — | |
| Q3 2013 | +0.2% | — | — | |
| Q2 2013 | -2.1% | — | — | |
| Q1 2013 | +2.7% | — | — | |
| Q4 2012 | +0.1% | — | — | |
| Q3 2012 | +1.7% | — | — | |
| Q2 2012 | +2.5% | — | — | |
| Q1 2012 | +0.2% | — | — | |
| Q4 2011 | +1.0% | — | — | |
| Q3 2011 | -0.8% | — | — | |
| Q3 2010 | -0.8% | — | — | |
| Q2 2011 | -0.4% | — | — | |
| Q2 2010 | -0.4% | — | — | |
| Q4 2009 | -0.4% | — | — | |
| Q1 2011 | -0.4% | — | — | |
| Q4 2010 | -0.4% | — | — | |
| Q1 2010 | -6.2% | — | — |
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