Artesian Resources (Nasdaq: ARTNA) grows Q2 2026 revenue 7.4%
Rhea-AI Filing Summary
Artesian Resources Corporation reported modestly stronger results for the quarter and six months ended June 30, 2026. For the second quarter, diluted EPS rose 4.9% to $0.64, with net income of $6.6 million, a 4.5% increase. Revenue grew 7.4% to $30.7 million, helped by temporary rate increases permitted under Delaware law, more water customers, and higher wastewater and Service Line Protection Plan activity.
Year-to-date, diluted EPS was $1.21, up 6.1% from 2025, on net income of $12.5 million and revenue of $58.4 million, up 7.4%. Operating expenses excluding depreciation and income taxes increased 7.6%, while interest charges rose with higher long‑term debt. The company invested $25.9 million in the first half of 2026 on water and wastewater infrastructure, including PFAS treatment upgrades and new wastewater plants, and reported a 6.6% increase in wastewater customers over the past 12 months.
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8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Q2 2026 Revenue: $30.7 million
Q2 2026 Net Income: $6.6 million
Q2 2026 Diluted EPS: $0.64
+5 more
8 metrics
Q2 2026 Revenue
$30.7 million
Three months ended June 30, 2026; $2.1 million, or 7.4%, more than Q2 2025.
Q2 2026 Net Income
$6.6 million
Quarter ended June 30, 2026; $0.3 million, or 4.5%, increase vs prior year.
Q2 2026 Diluted EPS
$0.64
Increased 4.9% from $0.61 for the same period in 2025.
YTD 2026 Revenue
$58.4 million
Six months ended June 30, 2026; $4.0 million, or 7.4%, more than YTD 2025.
YTD 2026 Net Income
$12.5 million
Six months ended June 30, 2026; $0.8 million, or 6.7%, increase vs YTD 2025.
YTD 2026 Diluted EPS
$1.21
Increased 6.1% compared to $1.14 for the same period in 2025.
First-Half 2026 Capital Expenditures
$25.9 million
Invested in water and wastewater infrastructure projects in the first six months of 2026.
Wastewater Customer Growth
6.6%
Increase in wastewater customers over the past 12 months across service territories.
Key Terms
temporary rate increases, Service Line Protection Plan, allowance for funds used during construction, Delaware Public Service Commission, +1 more
5 terms
temporary rate increases regulatory
"primarily the result of temporary rate increases as permitted under Delaware law"
Service Line Protection Plan financial
"increase in Service Line Protection Plan, or SLP Plan, revenue"
A service line protection plan is a small-fee warranty program that covers the repair or replacement of buried utility lines on a homeowner’s property—such as water, sewer, gas or electric pipes—that typically fall outside the main public utility’s responsibility. For investors it matters because these plans create recurring, predictable revenue and can shift repair costs and liability away from utilities, but they also carry claims risk and regulatory scrutiny; think of it like a focused insurance add-on that smooths out unpredictable household infrastructure expenses.
allowance for funds used during construction financial
"decrease in allowance for funds used during construction, or AFUDC"
Allowance for funds used during construction (AFUDC) is the accounting practice of adding the cost of borrowing money and using company funds while building long-term assets to the value of that asset instead of treating it as an immediate expense. For investors, AFUDC matters because it boosts reported profits and increases the company’s asset base today while deferring financing costs to future periods, similar to adding construction loan interest to the price of a house under renovation.
Delaware Public Service Commission regulatory
"until permanent rates are determined by the Delaware Public Service Commission"
The Delaware Public Service Commission is the state agency that sets rules and approves rates, service standards, and major projects for utilities like electricity, natural gas, water and telecommunications within Delaware. Its decisions act like a referee’s rulings for utility businesses, determining how much they can charge customers, what investments they can recover from rates and what safety or reliability measures are required—factors that directly affect utility revenues, costs and investment risk for investors.
PFAS treatment upgrades technical
"upgrading existing pumping and treatment stations, including PFAS treatment upgrades"
Earnings Snapshot
Q2 2026 revenue: $30.7 million
quarter and six months ended June 30, 2026
Q2 2026 revenue
$30.7 million
$2.1 million, or 7.4%, more than Q2 2025
Q2 2026 diluted EPS
$0.64
increased 4.9% from $0.61 in Q2 2025
Q2 2026 net income
$6.6 million
a $0.3 million, or 4.5%, increase vs Q2 2025
YTD 2026 revenue
$58.4 million
$4.0 million, or 7.4%, more than YTD 2025
YTD 2026 diluted EPS
$1.21
increased 6.1% from $1.14 in YTD 2025
YTD 2026 net income
$12.5 million
a $0.8 million, or 6.7%, increase vs YTD 2025
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
How did Artesian Resources (ARTNA) perform in the second quarter of 2026?
Artesian Resources reported Q2 2026 diluted EPS of $0.64 and net income of $6.6 million. Revenue totaled $30.7 million, up 7.4% from Q2 2025, while net income increased 4.5% and EPS rose 4.9% versus the prior-year quarter.
What drove revenue growth for Artesian Resources (ARTNA) in Q2 2026?
Q2 2026 revenue growth of 7.4% to $30.7 million was primarily due to temporary water rate increases and more customers. Higher industrial wastewater treatment revenue, additional residential and commercial wastewater customers, and increased Service Line Protection Plan fees and participation also contributed.
How did year-to-date 2026 results for ARTNA compare with 2025?
For the six months ended June 30, 2026, Artesian posted diluted EPS of $1.21 and net income of $12.5 million. Revenue reached $58.4 million, up $4.0 million, or 7.4%, while net income increased $0.8 million, or 6.7%, compared to the 2025 period.
What were Artesian Resources (ARTNA) capital expenditures in the first half of 2026?
Artesian invested $25.9 million in capital expenditures during the first six months of 2026. Spending focused on new mains, services and hydrants, rehabilitation of aging infrastructure, meter upgrades, wastewater force mains, pumping and treatment station upgrades including PFAS treatment, and new wastewater treatment plants.
How are operating expenses and interest costs changing for Artesian Resources (ARTNA)?
In Q2 2026, operating expenses excluding depreciation and income taxes increased $1.2 million, or 7.6%. Interest charges rose $0.2 million, mainly from higher long‑term debt on promissory notes, while other income fell $0.3 million due to lower AFUDC from reduced long-term construction activity.
What customer and service growth is Artesian Resources (ARTNA) seeing?
Management highlighted a 6.6% increase in wastewater customers over the past 12 months. Non‑utility revenue also grew, with Service Line Protection Plan revenue up 10.2% in Q2 and 9.9% year‑to‑date, driven by higher fees effective January 1, 2026 and more participating customers.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 6, 2026
(Exact name of registrant as specified in its charter)
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Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Securities registered pursuant to Section 12(b) of the Act: | ||
| Title of each class | Trading Symbols (s) | Name of each exchange on which registered |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition
On August 6, 2026, Artesian Resources Corporation (the “Company”) issued a press release announcing its earnings for the quarter and six months ended June 30, 2026. The press release is attached as Exhibit 99.1 and is incorporated herein by reference. The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933 or the Exchange Act.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
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Exhibit Number:
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Title:
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99.1*
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Press release regarding earnings for the quarter and six months ended June 30, 2026, issued on August 6, 2026, by Artesian Resources Corporation.
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104
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Cover Page Interactive Data File (formatted as Inline XBRL).
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Exhibit 99.1 is intended to be deemed furnished rather than filed pursuant to General Instruction B.2. of Form 8-K.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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ARTESIAN RESOURCES CORPORATION
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August 7, 2026
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By:
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/s/ David B. Spacht
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David B. Spacht
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Chief Financial Officer
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Artesian Resources Corporation Reports Second Quarter and
Year-To-Date 2026 Results
Newark, Delaware, August 6, 2026 – Artesian Resources Corporation (Nasdaq: ARTNA), a leading provider on the Delmarva Peninsula of water and wastewater services, and other related business services, today announced second quarter and year-to-date results for 2026.
Second Quarter Results
Diluted net income per share increased 4.9% to $0.64, compared to $0.61 for the same period in 2025. Net income for the three months ended June 30, 2026 was $6.6 million, a $0.3 million, or 4.5%, increase compared to net income recorded during the three months ended June 30, 2025.
Revenues totaled $30.7 million for the three months ended June 30, 2026, $2.1 million, or 7.4%, more than revenues for the three months ended June 30, 2025.
Water sales revenue increased $1.3 million, or 5.8%, primarily the result of temporary rate increases as permitted under Delaware law, until permanent rates are determined by the Delaware Public Service Commission, or DEPSC, and an increase in the number of customers served.
Other utility operating revenue increased approximately $0.6 million, or 16.0%, primarily due to an increase in revenue related to industrial wastewater treatment services and an increase in wastewater revenue associated with additional residential and commercial customers.
Non-utility operating revenue increased approximately $0.2 million, or 10.2%, primarily due to an increase in Service Line Protection Plan, or SLP Plan, revenue, resulting from an increase in fees that were placed into effect on January 1, 2026 and an increase in the number of customers participating in the SLP Plans.
“Our solid financial results reflect continued growth across our service territories, including a 6.6% increase in wastewater customers over the past 12 months” said Nicki Taylor, Chair, President and CEO.
Operating expenses, excluding depreciation and income taxes, increased $1.2 million, or 7.6%. Utility operating expenses increased $0.9 million, or 7.4%, primarily the result of a $0.5 million increase in payroll and employee benefit costs, a $0.2 million increase in supply and treatment costs, and a $0.2 million increase in administrative costs. Non-utility operating expenses increased $0.3 million, or 28.1%, primarily due to an increase in plumbing repair costs associated with the SLP Plans.
Depreciation and amortization expense increased $0.1 million, or 3.1%, primarily due to additional depreciation from continued investment in utility plant related to providing supply, treatment, storage and distribution of water to customers and service to our wastewater customers.
Federal and state income tax expense increased $0.1 million, or 4.6%, primarily due to higher pre-tax book income.
Other income decreased $0.3 million, primarily due to a decrease in allowance for funds used during construction, or AFUDC, as a result of lower long-term construction activity subject to AFUDC.
Interest charges increased $0.2 million, primarily due to an increase in long-term debt interest related to higher borrowing levels on the Company’s promissory notes.
Year-to-Date Results
Diluted net income per share increased 6.1% to $1.21, compared to $1.14 for the same period in 2025. Net income for the six months ended June 30, 2026 was $12.5 million, a $0.8 million, or 6.7%, increase compared to net income recorded during the six months ended June 30, 2025.
Revenues totaled $58.4 million for the six months ended June 30, 2026, $4.0 million, or 7.4%, more than revenues for the six months ended June 30, 2025.
Water sales revenue increased $2.9 million, or 6.5%, primarily the result of temporary rate increases as permitted under Delaware law, until permanent rates are determined by the DEPSC and an increase in the number of customers served.
Other utility operating revenue increased approximately $0.8 million, or 11.3%, primarily due to an increase in revenue related to industrial wastewater treatment services and an increase in wastewater revenue associated with additional residential and commercial customers.
Non-utility operating revenue increased approximately $0.4 million, or 9.9%, primarily due to an increase in SLP Plan revenue, resulting from an increase in fees that were placed into effect on January 1, 2026 and an increase in the number of customers participating in the SLP Plans.
Operating expenses, excluding depreciation and income taxes, increased $2.0 million, or 6.6%. Utility operating expenses increased $1.8 million, or 7.1%, primarily the result of increases in payroll, employee benefit and supply and treatment costs. Non-utility operating expenses increased $0.4 million, or 17.6%, primarily due to an increase in plumbing repair costs associated with the SLP Plans.
Depreciation and amortization expense increased $0.2 million, or 3.0%, primarily due to additional depreciation from continued investment in utility plant related to providing supply, treatment, storage and distribution of water to customers and service to our wastewater customers.
Federal and state income tax expense increased $0.3 million, or 7.6%, primarily due to higher pre-tax book income.
Other income decreased $0.5 million, primarily due to a decrease in AFUDC, as a result of lower long-term construction activity subject to AFUDC.
Interest charges increased $0.3 million, primarily due to an increase in long-term debt interest related to higher borrowing levels on the Company’s promissory notes and lines of credit.
Capital Expenditures
As part of Artesian’s ongoing effort to ensure high-quality reliable service to customers, $25.9 million was invested in the first six months of 2026 in water and wastewater infrastructure projects. These investments include installation of new mains, services and hydrants, renewals associated with the rehabilitation of aging infrastructure, upgrading and replacing meter reading equipment, installation of wastewater force mains, upgrading existing pumping and treatment stations, including PFAS treatment upgrades, and construction of new wastewater treatment plants, to better serve our customers.
“Water and wastewater utilities face the unique and challenging responsibility of reliably delivering safe drinking water, protecting the environment, and complying with evolving federal and state regulations,” said Nicki Taylor, Chair, President and CEO. “Our capital program is focused on supporting the long-term needs of the communities we serve by addressing aging infrastructure, enhancing system resiliency, and meeting these obligations.”
About Artesian Resources
Artesian Resources Corporation operates as a holding company of wholly-owned subsidiaries offering water and wastewater services, and several other related core business services, on the Delmarva Peninsula. Artesian Water Company, the principal subsidiary, is the oldest and largest regulated water utility on the Delmarva Peninsula and has been providing water service since 1905.
Forward Looking Statements
This release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding, among other things, recovery of investments in water utility plant and increased operating costs in rates charged to customers as presented in our current filing before the Delaware Public Service Commission, our growth strategy, our expectations regarding infrastructure investments, our ability to comply with future regulatory standards, continued growth in our business and the number of customers served, and our continued provision of high-quality, reliable service to customers. These statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including: changes in weather, changes in our contractual obligations, changes in government policies, the timing and results of our rate requests, failure to receive regulatory approval, changes in economic and market conditions generally and other matters discussed in our filings with the Securities and Exchange Commission. While the Company may elect to update forward-looking statements, we specifically disclaim any obligation to do so and you should not rely on any forward-looking statement as representation of the Company’s views as of any date subsequent to the date of this release.
Contact:
Virginia Eisenbrey
(302) 453-6900
VEisenbrey@artesianwater.com
