Company: MSEX
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001174947-25-001119
Chunk: 0

Company: MIDDLESEX WATER CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 0
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CONDENSED CONSOLIDATED STATEMENTS OF INCOME

 (Unaudited)

 (In thousands
except per share amounts)

    Three Months Ended June 30, 
    Six Months Ended June 30,

    2025 
    2024 
    2025 
    2024

    Operating Revenues 
    $49,323  
    $49,146  
    $93,624  
    $89,670 

    Operating Expenses: 

    Operations and Maintenance 
     23,066  
     21,825  
     44,175  
     42,290 
  
    Depreciation 
     6,703  
     6,305  
     13,230  
     11,701 
  
    Other Taxes 
     5,642  
     5,701  
     10,750  
     10,499 

    Total Operating Expenses 
     35,411  
     33,831  
     68,155  
     64,490 

    Operating Income 
     13,912  
     15,315  
     25,469  
     25,180 

    Other Income (Expense): 

    Allowance for Funds Used During Construction 
     413  
     257  
     786  
     433 
  
    Other Income (Expense), net 
     1,485  
     2,399  
     2,910  
     7,588 

    Total Other Income, net 
     1,898  
     2,656  
     3,696  
     8,021 

    Interest Charges 
     3,623  
     4,041  
     6,336  
     7,310 

    Income before Income Taxes 
     12,187  
     13,930  
     22,829  
     25,891 

    Income Taxes 
     1,409  
     3,384  
     2,571  
     4,663 

    Net Income 
     10,778  
     10,546  
     20,258  
     21,228 

    Preferred Stock Dividend Requirements