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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.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.
- Double-digit revenue and income growth fueled by infrastructure investment and customer expansion.MSEX
Investor presentation - Net income up 37% to $14.8M, EPS $0.79, $53M invested in upgrades, 53rd year of dividend growth.MSEX
Q2 2026 - All proposals passed by majority, with final results to be filed with the SEC.MSEX
AGM 2026 - Strong regulated growth, record infrastructure investment, and 53 years of rising dividends.MSEX
Investor presentation - Q1 2026 net income and revenues rose, with major capital investments and continued dividend growth.MSEX
Q1 2026 - Shareholders to vote on directors, executive pay, and auditor amid strong financials and ESG focus.MSEX
Proxy filing - Virtual annual meeting to vote on directors, executive pay, and auditor ratification.MSEX
Proxy filing - 2025 net income declined to $42.8M as infrastructure investment and rate increases continued.MSEX
Q4 2025 - Horizon 2030 strategy drives growth, resiliency, and compliance amid strong regulatory ties.MSEX
4th Annual Virtual Water Utilities Conference
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