Middlesex Water stock posts stronger third-quarter earnings
Published on 11/03/2026 at 01:05 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSQuarterly growth and dividend increase
- Middlesex Water said higher wholesale demand, customer consumption and rate increases supported revenue growth in the third quarter.
- Nine-month infrastructure investment reached USD 84 million, equal to 67% of the company's planned 2026 investment.
- The increased dividend is payable on December 1 to shareholders of record on November 16.
Middlesex Water Company reported stronger third-quarter results on October 29, as higher wholesale demand, customer consumption and rate increases lifted operating revenue. The company posted diluted earnings per share of USD 0.95, compared with USD 0.77 in the same quarter a year earlier, according to Morningstar.
Revenue growth supports earnings
Operating revenue rose to USD 60.2 million from USD 54.1 million in the prior-year quarter. Net income increased to USD 18.0 million from USD 14.0 million, while operating expenses reached USD 37.9 million, up from USD 36.4 million.
The company said revenue from its Middlesex System benefited from wholesale demand, customer consumption and base rate increases. Tidewater System revenue also increased through higher consumption, customer growth and rate increases.
Capital program remains in focus
Middlesex invested approximately USD 84 million in water and wastewater infrastructure during the first nine months of 2026. That represents 67% of its planned USD 126 million investment for the full year and includes projects aimed at improving system reliability and resilience.
In September, the company filed petitions with the New Jersey Board of Public Utilities seeking USD 0.8 million and USD 1.7 million in additional annual revenue through infrastructure-related recovery mechanisms. In October, Delaware regulators approved Tidewater's purchase of Mount Pleasant water utility assets serving 39 customers in New Castle County.
Dividend points to income focus
The board declared a quarterly dividend of USD 0.38 per share on October 23, raising the annual rate to USD 1.52. The increase marks Middlesex Water's 54th consecutive year of dividend increases. The payment is scheduled for December 1, 2026, for shareholders of record on November 16.
Business and competitive position
Middlesex Water is an investor-owned water and wastewater utility serving more than half a million people in New Jersey and Delaware. Its operations include regulated utility systems and related non-regulated services, with infrastructure investment and regulatory rate recovery central to the business model. The company's regional focus distinguishes it from larger diversified utilities while exposing results to customer demand, regulation and capital requirements.
Middlesex Water Company at a glance
- Company: Middlesex Water Company
- ISIN: US5966801087
- Ticker: MSEX
- Home exchange: Nasdaq
- Third-quarter diluted EPS: USD 0.95
- Third-quarter operating revenue: USD 60.2 million
- Quarterly dividend: USD 0.38 per share
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