Company: MSEX
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001628280-25-047821
Chunk: 7

Company: MIDDLESEX WATER CO
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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Item 1.    Financial Statements (Unaudited):

MIDDLESEX WATER COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

 (In thousands except per share amounts)

Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Operating Revenues$54,091 $55,100 $147,715 $144,770 Operating Expenses:Operations and Maintenance23,738 25,359 67,913 67,649 Depreciation6,941 6,309 20,171 18,010 Other Taxes5,709 5,931 16,460 16,430 Total Operating Expenses36,388 37,599 104,544 102,089 Operating Income17,703 17,501 43,171 42,681 Other Income (Expense):Allowance for Funds Used During Construction432 354 1,218 787 Other Income (Expense), net1,454 1,614 4,364 9,202 Total Other Income, net1,886 1,968 5,582 9,989 Interest Charges4,200 3,411 10,535 10,721 Income before Income Taxes15,389 16,058 38,218 41,949 Income Taxes1,431 1,739 4,001 6,402 Net Income13,958 14,319 34,217 35,547 Preferred Stock Dividend Requirements18 29 59 89 Earnings Applicable to Common Stock$13,940 $14,290 $34,158 $35,458 Earnings per share of Common Stock:Basic$0.77 $0.80 $1.90 $1.99 Diluted$0.77 $0.80 $1.90 $1.98 Average Number ofCommon Shares Outstanding :Basic18,12317,83817,99217,828Diluted18,15417,95218,02317,943

 See Accompanying Notes to Condensed Consolidated Financial Statements. 

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Table of Contents

MIDDLESEX WATER COMPANY

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In thousands)

 September 30,2025December 31,2024ASSETSUTILITY PLANT:Water