Middlesex Water Company
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Middlesex Water Company (MSEX) investor relations material

Middlesex Water Company Q3 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 earnings summary29 Oct, 2026

Executive summary

  • Q3 revenue rose to $60.2m from $54.1m YoY, and net income increased to $18.0m from $14.0m, reflecting rate increases, higher wholesale demand and customer consumption.

  • Nine-month revenue reached $165.3m versus $147.7m, while net income rose to $43.4m from $34.2m.

Financial highlights

  • Q3 operating income increased to $22.3m from $17.7m; nine-month operating income was $53.6m versus $43.2m.

  • Q3 operating expenses rose to $37.9m from $36.4m; nine-month operating expenses increased $7.1m, including higher production, employee costs and credit-loss reserves.

  • Nine-month operating cash flow increased $6.9m to $51.0m; utility plant expenditures rose to $83.9m from $71.6m.

Outlook and guidance

  • Planned 2026 capital investment is $126m; the 2026–28 program totals $506m, including $255m for PFAS treatment at the Carl J. Olson plant.

  • Other 2026–28 projects include $34m for water-main replacement, $17m for a transmission main, $9m for a Delaware treatment facility and $12m for elevated storage tanks.

  • Nine-month utility infrastructure investment was ~$84m, or ~67% of planned 2026 investment; September filings sought $0.8m through RESIC and $1.7m through DSIC.

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Frequently asked questions

Middlesex Water Company is a regulated water utility that provides water and wastewater services primarily in New Jersey and Delaware. The company is engaged in the treatment, distribution, and retail sale of water, along with the collection and treatment of wastewater. Middlesex Water also offers non-regulated contract operations and maintenance services to other water and wastewater utilities and private companies. Their services are essential for residential, commercial, industrial, and municipal customers, ensuring reliable access to clean water and proper wastewater management. The company is headquartered in Iselin, New Jersey, and its shares are listed on the NASDAQ.