Middlesex Water Q4 revenue falls

Overview

• U.S. water utility's Q4 operating revenue falls

• Net income for 2025 decreased due to one-time recovery in 2024 and lower consumption

• Company invested $96 mln in infrastructure during 2025, with further investments planned

Outlook

• Middlesex plans $126 mln infrastructure investment in 2026

• Company expects $506 mln infrastructure investment from 2026 to 2028

Result Drivers

• RATE INCREASES - FY operating revenues increased due to rate hikes and customer growth, despite lower consumption from unfavorable weather

• INFRASTRUCTURE INVESTMENTS - Co invested $96 mln in infrastructure in 2025, with plans for $126 mln in 2026

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the water & related utilities peer group is "buy."

• Wall Street's median 12-month price target for Middlesex Water Co is $52.00, about 3.8% below its February 18 closing price of $54.07

• The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 22 three months ago

Press Release: ID:nGNX2WytxH

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.