Company: MSEX
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001174947-25-001119
Chunk: 1

Company: MIDDLESEX WATER CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 1
---
19  
     30  
     41  
     60 

    Earnings Applicable to Common Stock 
    $10,759  
    $10,516  
    $20,217  
    $21,168 

    Earnings per share of Common Stock: 

    Basic 
    $0.60  
    $0.59  
    $1.13  
    $1.19 
  
    Diluted 
    $0.60  
    $0.59  
    $1.13  
    $1.18 

    Average Number of 

    Common Shares Outstanding : 

    Basic 
     17,962  
     17,829  
     17,926  
     17,824 
  
    Diluted 
     17,993  
     17,944  
     17,957  
     17,939 

 See Notes to Condensed Consolidated Financial Statements.  

1 

MIDDLESEX WATER COMPANY

CONDENSED
CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In thousands)

    June 30, 
    December 31,
  
    ASSETS 
      
    2025 
    2024
  
    UTILITY PLANT: 
    Water Production 
    $323,691  
    $314,924 

    Transmission and Distribution 
     890,445  
     855,497 

    General 
     106,949  
     105,167 

    Construction Work in Progress 
     43,615  
     34,209 

    TOTAL 
     1,364,700  
     1,309,797 

    Less Accumulated Depreciation 
     264,521  
     254,425 

    UTILITY PLANT - NET 
     1,100,179  
     1,055,372 

    CURRENT ASSETS: 
    Cash and Cash Equivalents 
     2,560  
     4,226 

    Accounts Receivable, net of allowance for credit losses of $2,101 and $2,695 in 2025 and 2024, respectively 
     20,888  
     18,842 

    Unbilled Revenues 
     13,101