Middlesex Water Co. has recently released its 10-Q report, providing insights into the company's financial health and operations. The company, incorporated in 1896 and headquartered in Iselin, New Jersey, operates regulated water utility and wastewater systems in the United States. It has two segments: Regulated and Non-Regulated. The Regulated segment collects, treats, and distributes water, while the Non-Regulated segment provides contract services for the operation and maintenance of water and wastewater systems. The company primarily operates in parts of New Jersey and Delaware, including Middlesex, Tidewater, Pinelands Water, and Southern Shores.
In the recently released 10-Q report, the company's management's discussion and analysis of financial condition and results of operations highlighted several key points. The report includes forward-looking statements covering various aspects such as expected financial condition, strategic plans for growth, regulatory matters, liquidity needs, financial projections, and compliance with environmental laws and regulations. The report also discussed factors that could impact the company's results, including economic conditions, competition, regulatory actions, weather variations, and cybersecurity risks.
The report also provided an overview of the company's recent developments. This included the settlement of a multi-district litigation lawsuit related to perfluoroalkyl substances (PFAS), the acquisition of water utility assets in Delaware, and regulatory activities concerning PFAS regulations by the United States Environmental Protection Agency. Additionally, the report outlined the company's capital construction program, which involves investments in infrastructure projects to upgrade and replace utility assets.
Looking ahead, the company's outlook highlighted factors that could impact its operating income and net income, including weather patterns, rate relief, cost management, and customer growth. The report also emphasized the company's strategy for selective and sustainable growth, focusing on investments in utility infrastructure, recovery of infrastructure investments, selective acquisitions, and operation of municipal and industrial water and wastewater systems on a contract basis.
The report also provided a breakdown of the company's operating results by segment for the three months ended September 30, 2025. In the Regulated segment, operating revenues totaled $50,907, while in the Non-Regulated segment, operating revenues amounted to $3,184. The company reported operating income of $16,826 in the Regulated segment and $877 in the Non-Regulated segment for the same period.
As a result of these announcements, the company's shares have moved -1.88% on the market, and are now trading at a price of $56.92. Check out the company's full 10-Q submission here.
