Here are the 10-K annual reports from Middlesex Water 7 PR (MSEXP) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow MSEXP and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MSEXP filings page.
Middlesex Water Company reports 2025 annual results with operating revenues of $194.7 million, operating income of $54.4 million and net income of $42.8 million. Regulated operations provided about 94% of revenue across New Jersey and Delaware water and wastewater systems.
The Middlesex System generated roughly 67% of consolidated operating revenues, Tidewater 25%, with remaining contributions from smaller regulated systems and contract operations. Residential customers accounted for 52.7% of 2025 revenues, with commercial, industrial, fire protection and contract services making up the rest.
Regulators approved a $14.5 million base rate increase for Middlesex and Pinelands effective in early 2026 and a $5.5 million increase for Tidewater in mid‑2025, along with DSIC and RESIC mechanisms to recover future infrastructure and resiliency investments. The company projects about $506 million in capital spending from 2026–2028, including major PFAS treatment upgrades at its Carl J. Olsen plant and new facilities in Delaware.