Earnings and revenue rise at Artesian Resources (NASDAQ: ARTNA)
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Artesian Resources Corporation reported higher earnings for the quarter ended March 31, 2026. Diluted net income per share rose 7.5% to $0.57, up from $0.53 a year earlier, while net income increased 9.2% to $5.9 million.
Quarterly revenues grew 7.3% to $27.8 million, driven mainly by higher water sales from temporary rate increases in Delaware and customer growth. The company invested $13.1 million in water and wastewater infrastructure during the first three months of 2026 to upgrade aging systems and expand treatment capacity.
Positive
- None.
Negative
- None.
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
Diluted EPS Q1 2026: $0.57 per share
Net income Q1 2026: $5.9 million
Revenue Q1 2026: $27.8 million
+5 more
8 metrics
Diluted EPS Q1 2026
$0.57 per share
Quarter ended March 31, 2026; up from $0.53 in 2025
Net income Q1 2026
$5.9 million
Quarter ended March 31, 2026; $0.5M (9.2%) higher year over year
Revenue Q1 2026
$27.8 million
Quarter ended March 31, 2026; $1.9M (7.3%) above Q1 2025
Water sales revenue increase
$1.5 million
Q1 2026 vs Q1 2025; 7.3% increase driven by temporary rate hikes and customer growth
Other utility operating revenue change
$0.2 million increase
Q1 2026; up 6.2% on higher industrial wastewater and wastewater revenue
Non-utility operating revenue change
$0.2 million increase
Q1 2026; up 9.5% mainly from Service Line Protection Plan fees and participation
Capital expenditures
$13.1 million
Invested in water and wastewater infrastructure in first three months of 2026
Annual water supplied
9.7 billion gallons
Water supplied per year through 1,515 miles of main to customers
Key Terms
temporary rate increases, Service Line Protection Plan, allowance for funds used during construction, PFAS treatment upgrades, +1 more
5 terms
temporary rate increases financial
"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
"a 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.
PFAS treatment upgrades technical
"including PFAS treatment upgrades, and construction of new wastewater treatment plants"
forward looking statements regulatory
"This release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995"
Statements about a company’s expected future performance, plans, goals, or projections that are not historical facts and involve assumptions and estimates. Investors care because these are predictions that guide decisions but can be wrong; like a weather forecast, they help set expectations and risk — if circumstances change, actual results may differ significantly, so investors should weigh them alongside hard data and risk factors.
Earnings Snapshot
Revenue: $27.8 million
Q1 2026
Revenue
$27.8 million
+7.3% vs Q1 2025
Net income
$5.9 million
+9.2% vs Q1 2025
Diluted EPS
$0.57
+7.5% vs $0.53 in Q1 2025
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): May 5, 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 May 5, 2026, Artesian Resources Corporation (“Artesian Resources” or the “Company”) issued a press release announcing its earnings for the quarter ended March 31, 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 ended March 31, 2026, issued on May 5, 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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May 6, 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 First Quarter 2026 Results
Newark, Delaware, May 5, 2026 – Artesian Resources Corporation (Nasdaq: ARTNA), a leading provider on the Delmarva Peninsula of water and wastewater services, and several other related business services, today announced earnings results for the first quarter of 2026.
First Quarter Results
Diluted net income per share increased 7.5% to $0.57, compared to $0.53 for the same period in 2025. Net income for the three months ended March 31, 2026 was $5.9 million, a $0.5 million, or 9.2%, increase compared to net income recorded during the three months ended March 31, 2025.
Revenues totaled $27.8 million for the three months ended March 31, 2026, $1.9 million, or 7.3%, more than revenues for the three months ended March 31, 2025.
Water sales revenue increased $1.5 million, or 7.3%, 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 $0.2 million, or 6.2%, primarily due to an increase in revenue related to industrial wastewater services and an increase in wastewater revenue associated with additional residential and commercial customers.
Non-utility operating revenue increased approximately $0.2 million, or 9.5%, primarily due to an increase in Service Line Protection Plan, or SLP Plan, revenue, primarily the result of an increase in the number of customers participating in the SLP Plans and an increase in fees that were placed into effect on January 1, 2026.
Operating expenses, excluding depreciation and income taxes, increased $0.9 million, or 5.7%. Utility operating expenses increased $0.8 million, or 6.7%, primarily the result of increased costs associated with payroll and employee benefit costs, supply and treatment costs and transmission, distribution and collection systems cost, partially offset by a decrease in administrative costs.
Federal and state income tax expense increased $0.2 million, or 11.2%, primarily due to higher pre-tax book income.
Other income decreased $0.2 million, primarily due to a decrease in patronage refunds on the company’s lines of credit and loan volume and a decrease in allowance for funds used during construction, or AFUDC, as a result of lower long-term construction activity subject to AFUDC.
Capital Expenditures
As part of Artesian’s ongoing effort to ensure high-quality reliable service to customers, $13.1 million was invested in the first three 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 our 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.
“Investment in critical water and wastewater infrastructure is essential to providing safe, reliable service and meeting evolving regulatory standards” said Nicki Taylor, Chair, President and CEO. “These investments address aging infrastructure, support water quality and help maintain the long-term resilience of our operations while supporting responsible growth for the communities we serve.”
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. Artesian Water Company supplies 9.7 billion gallons of water per year through 1,515 miles of main to over a third of Delawareans.
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, and continued growth in our business and the number of customers served. 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
FAQ
How did Artesian Resources (ARTNA) earnings perform in Q1 2026?
Artesian Resources delivered higher Q1 2026 earnings, with diluted net income per share increasing to $0.57 from $0.53 in Q1 2025. Net income rose to $5.9 million, a $0.5 million, or 9.2%, increase versus the prior-year quarter.
What were Artesian Resources (ARTNA) revenues for the quarter ended March 31, 2026?
Artesian Resources generated Q1 2026 revenues of $27.8 million, an increase of $1.9 million, or 7.3%, compared to the same period in 2025. Growth was supported by higher water sales, additional customers, and increased wastewater and non-utility operating revenues.
What drove revenue growth for Artesian Resources (ARTNA) in Q1 2026?
Revenue growth was mainly driven by higher water sales, which increased $1.5 million, or 7.3%, helped by temporary rate increases approved under Delaware law and customer growth. Additional gains came from industrial wastewater services and more customers using Service Line Protection Plans.
How much did Artesian Resources (ARTNA) invest in infrastructure in early 2026?
In the first three months of 2026, Artesian Resources invested $13.1 million in water and wastewater infrastructure. Spending focused on new mains and services, rehabilitating aging infrastructure, upgrading meter reading equipment, PFAS treatment upgrades, and constructing or improving wastewater treatment facilities.
How did operating expenses change for Artesian Resources (ARTNA) in Q1 2026?
Operating expenses excluding depreciation and income taxes increased $0.9 million, or 5.7%, in Q1 2026. Utility operating expenses rose $0.8 million, or 6.7%, mainly from higher payroll, benefits, supply and treatment costs, and system costs, partially offset by lower administrative expenses.
What happened to other income for Artesian Resources (ARTNA) in Q1 2026?
Other income decreased by $0.2 million in Q1 2026. This decline was primarily due to lower patronage refunds on the company’s lines of credit and loan volume, and reduced allowance for funds used during construction because of lower long-term construction activity qualifying for AFUDC.