Middlesex Water Company Reports First Quarter 2026 Earnings

Middlesex Water Company announced its financial results for the first quarter ended March 31, 2026. The company reported a net income of $10.6 million, with diluted earnings per share (EPS) of $0.57, an increase from $9.5 million and $0.53 respectively in the same quarter of the previous year. Operating revenues rose to $48.7 million from $44.3 million, attributed to increased wholesale demand, customer consumption, and rate increases across its systems. Operating expenses also increased to $35.6 million from $32.7 million, primarily due to higher production costs, labor costs, partially offset by higher capitalizable costs. The company invested $21 million in infrastructure during the quarter, as part of its planned $126 million investment for 2026. Middlesex declared a second quarter cash dividend of $0.36 per common share, maintaining its long history of consecutive annual dividend increases.