Middlesex Water Q1 EPS Rises to $0.57; $21M Infrastructure Investment
Middlesex Water posted Q1 net income of $10.6 million and diluted EPS of $0.57, up from $9.5 million and $0.53 a year ago on operating revenues rising $4.4 million to $48.7 million. The company invested $21 million—17% of its $126 million annual infrastructure plan—and declared a $0.36 quarterly dividend.
1. Strong Q1 Financial Results
Middlesex Water reported net income of $10.6 million for the quarter ended March 31, 2026, compared with $9.5 million in Q1 2025. Diluted EPS rose to $0.57 from $0.53, while operating revenues climbed to $48.7 million, driven by higher wholesale demand, customer consumption and base rate increases across its systems.
2. Infrastructure Investment and Capital Plan
The company invested approximately $21 million in water and wastewater utility infrastructure during the first quarter, representing about 17% of its $126 million planned capital expenditures for 2026. This deployment focused on upgrades, replacements and resiliency enhancements to support long-term growth under its MWC 2030 Vision.
3. Dividend Declaration and Annual Meeting
Middlesex’s board declared a second-quarter cash dividend of $0.36 per common share, payable June 1 to shareholders of record as of May 15. The company will hold its annual meeting on May 19, 2026, with virtual participation instructions available through its shareholder portal.