MIDDLESEX WATER CO
For the period ended Mar 31, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
MSEX$59.50-0.6%Stored close · as of Nov 9, 2026
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FINANCIAL INFORMATION Financial Statements (Unaudited)Condensed Consolidated Statements of Income
(In thousands except per share amounts)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating Revenues | $40,524 | $38,156 |
| Operating Expenses: | ||
| Operations and Maintenance | 20,465 | 20,257 |
| Depreciation | 5,396 | 5,986 |
| Other Taxes | 4,798 | 4,423 |
| Total Operating Expenses | 30,659 | 30,666 |
| Operating Income | 9,865 | 7,490 |
| Other Income: | ||
| Allowance for Funds Used During Construction | 176 | 813 |
| Other Income, net | 5,189 | 898 |
| Total Other Income, net | 5,365 | 1,711 |
| Interest Charges | 3,269 | 2,595 |
| Income before Income Taxes | 11,961 | 6,606 |
| Income Taxes | 1,279 | 738 |
| Net Income | 10,682 | 5,868 |
| Preferred Stock Dividend Requirements | 30 | 30 |
| Earnings Applicable to Common Stock | $10,652 | $5,838 |
| Earnings per share of Common Stock: | ||
| Basic | $0.60 | $0.33 |
| Diluted | $0.59 | $0.33 |
| Average Number of Common Shares Outstanding: | ||
| Basic | 17,819 | 17,652 |
| Diluted | 17,934 | 17,767 |
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