Middlesex Water Company (MSEX) reported third-quarter operating revenues of $60.205 million, versus $54.091 million a year earlier, and earnings applicable to common stock of $18.015 million, versus $13.940 million. Diluted earnings per share were $0.95, compared with $0.77. Management attributed the revenue increase to higher wholesale demand, customer consumption and New Jersey base-rate increases effective February 23, 2026.
For the nine months ended September 30, 2026, operating revenues were $165.276 million versus $147.715 million, net income was $43.403 million versus $34.217 million, and operating cash flow was $51.013 million versus $44.134 million. Middlesex projects approximately $506 million in capital investment for 2026–2028.
New Jersey regulators approved a $14.5 million annual operating-revenue increase effective February 23, 2026. Under its ATM agreement, Middlesex sold 518,564 shares at a weighted-average $55.90 per share for the nine months ended September 30, 2026, receiving $28.6 million in net proceeds; $51.0 million of aggregate gross sales remained as of September 30, 2026. Middlesex received $9.6 million in PFAS settlement payments through that date and expects to share $6.0 million with customers.
Middlesex Water Company (MSEX) reported third-quarter 2026 net income of $18.028 million and diluted EPS of $0.95, compared with $13.958 million and $0.77 a year earlier. Operating revenue was $60.205 million, up $6.1 million; operating expenses were $37.938 million, up approximately $1.6 million. For the nine months ended September 30, 2026, net income was $43.403 million, up $9.2 million, and revenue was $165.276 million, up approximately $17.6 million.
Middlesex invested approximately $84 million in utility infrastructure during the nine months, about 67% of its planned 2026 annual investment of approximately $126 million. In September 2026, it filed New Jersey Board of Public Utilities petitions seeking $0.8 million and $1.7 million in additional annual revenues. In October 2026, the Delaware Public Service Commission approved the joint application by Tidewater Utilities, Inc. and Mount Pleasant MHP, LLC for Tidewater to purchase the water utility assets for $25 thousand. The board declared a $0.38 per-share fourth-quarter dividend, up 5.56% and raising the annual rate to $1.52; payment is December 1, 2026, to shareholders of record November 16, 2026.
Middlesex Water Co director Joshua Bershad reported an "other" disposition of 6,900 shares of Common Stock previously held indirectly through a family trust. According to the notes, these shares were distributed to trust beneficiaries in accordance with the trust terms, and no consideration was received. Bershad serves as trustee with voting power but disclaims beneficial ownership except to the extent of any pecuniary interest. Following this, he reports 1,567 Common Stock (Book) shares and 4,213 Common Stock (Street) shares held directly, plus 4,247 Street shares held indirectly by his spouse and additional shares held in custodial accounts for family members.
Lorrie Beth Ginegaw, VP, Human Resources at Middlesex Water, sold 615 shares of Common Stock (Book) at $57.61 per share on August 7, 2026. After this sale she directly held 3,978 book shares, plus 355 Common Stock (Street), 0.9429 DRP shares, and 5,428 restricted-book shares.
Middlesex Water Company reported higher operating revenues and earnings for the quarter ended June 30, 2026, with operating revenues of $56,357 thousand and net income of $14,772 thousand, compared with $49,323 thousand and $10,778 thousand a year earlier. Diluted EPS was $0.79, and six‑month diluted EPS was $1.36 on revenues of $105,071 thousand.
Growth reflected a New Jersey Board of Public Utilities approval of a $14.5 million base rate increase for Middlesex and Pinelands effective February 23, 2026, along with higher consumption and customer growth at Tidewater. Regulated operations provided most of the improvement. The company invested $53,468 thousand in capital expenditures in the first half and plans about $126 million in 2026 spending within a $506 million 2026‑2028 program focused on PFAS treatment, lead service line replacement and system upgrades. Funding sources include State Revolving Fund loans, a new $25.0 million CoBank term loan, expanded credit lines totaling $180.0 million, and at‑the‑market equity issuance that generated $14.0 million in net proceeds year‑to‑date. Through June 30, 2026, the company also received $8.1 million from PFAS MDL settlements that are expected to be shared with customers.
Middlesex Water Company reported strong second quarter 2026 results, with operating revenues of $56.4 million, net income of $14.8 million and diluted EPS of $0.79, up from $10.8 million and $0.60 a year earlier. Growth was driven by increased wholesale demand, higher customer consumption and base rate increases in both the Middlesex and Tidewater systems.
For the first six months of 2026, operating revenues were $105.1 million and net income was $25.4 million, with diluted EPS of $1.36. Operations and maintenance, depreciation and taxes rose mainly due to higher credit loss reserves, employee and production costs. The company invested $53 million in utility infrastructure, about 42% of its planned $126 million 2026 program, and declared a third quarter cash dividend of $0.36 per common share, continuing a 53-year streak of annual dividend increases.
Middlesex Water Company reported the results of its 2026 Annual Meeting of Shareholders held on May 19, 2026. Shareholders elected one Class II director and three Class III directors to the Board, with vote totals ranging from 11.39 million to 14.15 million in favor.
Shareholders also approved, on an advisory basis, the Company’s named executive officer compensation with about 13.25 million votes for and ratified the appointment of the independent registered public accounting firm for the fiscal year ending December 31, 2026, with about 16.63 million votes for.
Middlesex Water Company reported stronger results for the quarter ended March 31, 2026. Operating revenues rose to $48.7 million from $44.3 million, and earnings applicable to common stock increased to $10.6 million, or $0.57 per share, compared with $0.53 a year earlier.
Regulated operations drove most of the growth, helped by a $14.5 million annual base rate increase approved in New Jersey effective February 23, 2026, along with higher usage and customer growth in Delaware. The company received $6.0 million from PFAS multi-district litigation settlements, with proceeds being shared with customers through bill credits and refunds. Capital spending remained heavy at $20.6 million in the quarter, mainly for water infrastructure and PFAS treatment projects, funded by a mix of operating cash flow, state revolving fund loans, bank credit lines and an at-the-market equity program.
Middlesex Water Company reported higher results for the quarter ended March 31, 2026, driven by stronger demand and rate increases in its regulated systems. Net income was $10.6 million and diluted EPS was $0.57, up from $9.5 million and $0.53 a year earlier.
Operating revenues rose to $48.7 million from $44.3 million, mainly from increased wholesale demand, customer consumption and base rate increases in the Middlesex System, and higher usage, customer growth and rates in the Tidewater System. Operating expenses increased to $35.6 million, reflecting higher production costs, wages and headcount.
The company invested about $21 million in water and wastewater infrastructure during the quarter, roughly 17% of its planned $126 million 2026 program. The Board declared a second-quarter cash dividend of $0.36 per common share, payable June 1, 2026, to shareholders of record on May 15, 2026.
Middlesex Water Co Schedule 13G filed by Vanguard Capital Management reports beneficial ownership of 961,148 shares of Common Stock, representing 5.18% of the class as of 03/31/2026. The filing states Vanguard exercises sole dispositive power over 961,148 shares and sole voting power over 133,195 shares. The filing notes this ownership reflects holdings across Vanguard Capital Management LLC and specified affiliates and funds. The signature block is dated 04/30/2026.