ARTESIAN RESOURCES CORP SEC 10-Q Report

Artesian Resources Corp, a leading provider of water and wastewater services, has released its Form 10-Q report for the nine months ended September 30, 2025. The report highlights the company's robust financial performance and significant operational achievements, underscoring its strategic growth and efficiency improvements in the utility sector. Financial Highlights Total Operating Revenues: $84.926 million, reflecting an increase from $81.102 million in the same period last year, driven by higher water sales and other utility operating revenue.Operating Income: $22.019 million, up from $20.508 million in the prior year, indicating improved operational efficiency and cost management.Net Income Applicable to Common Stock: $18.687 million, compared to $16.549 million for the same period last year, highlighting strong financial performance.Basic Income Per Common Share: $1.81, an increase from $1.61 in the previous year, demonstrating enhanced profitability per share.Diluted Income Per Common Share: $1.81, up from $1.61, consistent with the basic income per share, reflecting the company's solid earnings growth. Business Highlights Revenue Segments: The Regulated Utility segment, which includes water and wastewater services, accounted for 93.5% of total operating revenues for the nine months ended September 30, 2025. This segment includes services provided by Artesian Water, Artesian Water Maryland, and Artesian Water Pennsylvania.Geographical Performance: Artesian Water serves approximately 98,800 customers in Delaware, Artesian Water Maryland serves about 2,700 customers in Maryland, and Artesian Water Pennsylvania serves around 40 customers in Pennsylvania. The number of metered water customers in Delaware and Maryland each increased by approximately 1.8% compared to the previous year.Sales Units: For the nine months ended September 30, 2025, approximately 7.1 billion gallons of water were distributed in Delaware systems and approximately 78.0 million gallons in Maryland systems.New Product Launches: Artesian Utility offers three protection plans: the Water Service Line Protection Plan, the Sewer Service Line Protection Plan, and the Internal Service Line Protection Plan. These plans provide a steady revenue stream unaffected by weather.Future Outlook: The company plans to expand its regulated water service area in the Cecil County designated growth corridor and to enhance its operations in Maryland through strategic acquisitions and the development of new water systems. Additionally, Artesian Wastewater aims to utilize larger regional wastewater facilities to expand service areas and improve operational efficiencies.Strategic Partnerships: The company continues to build strategic partnerships with county governments, municipalities, and developers to expand its water and wastewater services across the Delmarva Peninsula.Customer Growth: The number of Delaware wastewater customers increased by approximately 6.6% compared to the previous year, indicating a growing demand for wastewater services in the region.Inflation Impact: The company is affected by inflation, which increases the costs required to maintain, improve, and expand service capabilities. The ability to recover these costs is dependent on future rate increases approved by regulatory authorities.SEC Filing: ARTESIAN RESOURCES CORP [ ARTNA ] - 10-Q - Nov. 07, 2025