Company: MSEX
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001174947-25-000677
Chunk: 85

Company: MIDDLESEX WATER CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 2
Chunk 85
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 USA-PA, and White Marsh.

20 

Results of Operations – Three Months Ended March
31, 2025

    (In Thousands) 

    Three Months Ended March 31, 

    2025  
    2024 

    Regulated  
    Non-
Regulated  
    Total  
    Regulated  
    Non-
Regulated  
    Total 
  
    Operating Revenues 
    $41,468  
    $2,833  
    $44,301  
    $37,436  
    $3,088  
    $40,524 
  
    Operations and Maintenance Expense 
     19,253  
     1,856  
     21,109  
     18,364  
     2,101  
     20,465 
  
    Depreciation 
     6,464  
     63  
     6,527  
     5,329  
     67  
     5,396 
  
    Other Taxes 
     5,050  
     58  
     5,108  
     4,744  
     54  
     4,798 
  
      Operating Income 
    $10,701  
    $856  
    $11,557  
    $8,999  
    $866  
    $9,865 

    Other Income, net 
     1,742  
     55  
     1,797  
     5,306  
     59  
     5,365 
  
    Interest Charges 
     2,713  
     —  
     2,713  
     3,269  
     —  
     3,269 
  
    Income Taxes  
     872  
     290  
     1,162  
     987  
     292  
     1,279 
  
      Net Income 
    $8,858  
    $621  
    $9,479  
    $10,049  
    $633  
    $10,682 

Operating Revenues

Operating revenues for the three months ended March
31, 2025 increased $3.8 million from the same period in 2024