ISELIN, N.J., March 26, 2026 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ: MSEX) has announced today that Mrs. Tatyana Kaplan joined the company as Vice President and Chief Accounting Officer, effective March 26, 2026. “We are delighted to welcome Tatyana Kaplan to our executive leadership team as Vice President and Chief Accounting Officer,” stated Nadine Leslie, Chair, President and Chief Executive Officer of Middlesex Water Company “Tatyana brings a distinguished background in regulated utility ac ...

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Core Insights - Middlesex Water Company (NASDAQ:MSEX) is recognized as one of the 11 best water management stocks to buy [1] Financial Performance - For the year 2025, Middlesex Water Company reported a net income of $42.8 million, which is a decrease of $1.5 million from 2024, with diluted earnings per share (EPS) of $2.36, down from $2.47 the previous year [2] - The company's operating revenues reached $194.7 million, reflecting an increase of $2.8 million year-on-year, primarily driven by rate hikes and client growth across its systems [2] - Operating expenses rose by $1.7 million during the same period [2] Quarterly Results - In the fourth quarter, the company reported a net income of $8.6 million and diluted EPS of $0.46, compared to $8.8 million and $0.49 in the same quarter of the previous year, influenced by increased interest expenses and income taxes, which were offset by higher operating income [3] - Middlesex Water Company invested $96 million in water and wastewater infrastructure in 2025 and plans to invest $506 million in utility infrastructure from 2026 to 2028 [3] - The company declared a dividend of $0.36 per share [3] Company Overview - Middlesex Water Company owns and manages regulated water utility and wastewater systems, providing services that include water production, treatment, distribution, and wastewater collection and treatment [5]

Company Overview - Middlesex Water Company operates as a regional regulated utility, providing essential water and wastewater services to customers in New Jersey and Delaware [6] - The company generates revenue primarily through the sale of water and wastewater services to retail and wholesale customers, with additional income from contract operations and maintenance services [8] - Middlesex Water Company has a dual-segment structure that enables stable, recurring revenue from regulated operations while leveraging expertise in contract services for additional growth [9] Financial Performance - For the trailing twelve months (TTM), Middlesex Water Company reported revenue of $194.82 million and net income of $42.94 million [4] - The company has a dividend yield of 2.73% and a one-year price change of 10.57% as of February 27, 2026 [4] - Operating revenue for 2025 was $194.7 million, an increase from $191.9 million in 2024, attributed to rate increases and customer growth [10] Recent Transactions - Robert N. Hoglund, a member of the Board of Directors, purchased 2,000 shares on February 27, 2026, for approximately $109,000, establishing a direct holding of 2,000 shares, representing a 0.01% ownership stake [1][7] - This transaction is only the second reported by Mr. Hoglund, indicating limited historical trading activity [7] - The purchase suggests a bullish outlook towards the stock, coinciding with a nearly 10% increase in the utility's share price in 2026 through March 2 [10] Future Outlook - Revenue for 2026 is expected to grow following a rate increase approved in February, which may have influenced Mr. Hoglund's decision to buy shares [11] - Middlesex Water Company is considered a solid stock for income-oriented investors due to its robust dividend yield exceeding 2% and a long history of dividend payments since 1912 [11] - Despite gains in 2026, shares remain below the 52-week high of $67.09 reached last April, presenting a potential investment opportunity [12]

Core Insights - Tidewater Utilities, Inc. has received approval from the Delaware Public Service Commission to refund approximately $1.1 million to customers through a one-time bill credit funded by litigation proceeds related to PFAS contamination [1][2][3] Group 1: Refund Details - The one-time credit will be issued to eligible customers on their March 2026 water bills, with an average expected bill credit of $18.75 per customer [2] - The refund reflects Tidewater's commitment to regulatory engagement and financial stewardship while balancing customer affordability [4] Group 2: PFAS Contamination - PFAS are man-made chemicals used in various applications, which can accumulate in the environment and drinking water sources, leading to increased regulatory oversight [5] - Tidewater has implemented proactive measures to monitor, test, and treat PFAS in its water systems, ensuring compliance with evolving regulatory standards [3] Group 3: Company Overview - Tidewater Utilities, Inc. is a wholly owned subsidiary of Middlesex Water Company, serving approximately 62,000 customers across more than 480 communities in Delaware [6] - Middlesex Water Company is a leading investor-owned utility providing water and wastewater services to over half a million people in New Jersey and Delaware [7]

Core Viewpoint - Middlesex Water Company reported its financial results for the fourth quarter and year-end 2025, highlighting a decrease in net income compared to 2024, driven by various factors including weather impacts and one-time recoveries in the previous year [3][6]. Financial Performance - Net income for 2025 was $42.8 million, a decrease of $1.5 million from 2024, with diluted earnings per share (EPS) at $2.36 compared to $2.47 in 2024 [3][6]. - Operating revenues for 2025 were $194.7 million, an increase of approximately $2.8 million from 2024, driven by rate increases and customer growth [4]. - Operating expenses increased by $1.7 million in 2025, primarily due to higher depreciation expenses, although operating and maintenance expenses decreased [5]. Quarterly Results - For the fourth quarter of 2025, net income was $8.6 million with diluted EPS of $0.46, compared to $8.8 million and $0.49 in the same quarter of 2024 [6]. Growth Strategy - The company invested approximately $96 million in 2025 to enhance its water and wastewater utility infrastructure [7]. - Plans for 2026 include an investment of approximately $126 million in infrastructure, with a total of $506 million expected from 2026 to 2028 [8]. Regulatory Developments - The New Jersey Board of Public Utilities approved a settlement agreement that will increase annual operating revenues by $14.5 million, with new rates effective February 23, 2026 [10]. - A Resiliency and Environmental System Improvement Charge (RESIC) and a Distribution System Improvement Charge (DSIC) were also approved, allowing for semi-annual surcharge filings for qualifying capital investments [11]. Acquisitions and Dividends - In January 2026, the company acquired the water utility assets of Pinewood Acres for $0.2 million, serving approximately 350 customers [12]. - A cash dividend of $0.36 per common share was declared for the first quarter of 2026, continuing a long history of dividend payments since 1912 [13].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________________ to ______________________ Commission File Number 0-422 MIDDLESEX WATER COMPANY (Exact name of registrant as specified in its char ...

Middlesex Water Company Reports 2025 Earnings ISELIN, N.J., February 19, 2026 -- Middlesex Water Company ("Middlesex" or the "Company") (NASDAQ: MSEX) today announced financial results for the fourth quarter and year end 2025. "We appreciate the diligence and commitment of the New Jersey Board of Public Utilities Staff and the Division of Rate Counsel throughout the review of our general rate case," said Nadine Leslie, Chair, President and Chief Executive Officer of Middlesex Water Company. "This constructi ...

Core Viewpoint - Middlesex Water Company is set to report its 2025 fourth quarter and year-end financial results on February 19, 2026, after market close [1] Group 1: Company Overview - Middlesex Water Company is a leading investor-owned water and wastewater utility in the United States, established in 1897 [2] - The company serves over half a million customers in New Jersey and Delaware, focusing on employee engagement, operational excellence, and superior customer experience [2] - Middlesex emphasizes investment in infrastructure and sustainable growth to create value for customers, investors, and communities [2] Group 2: Financial Reporting - The financial results for the fourth quarter and year-end will be available in the Investors section of the company's website along with the 2025 Form 10-K filing [1]

Core Insights - Middlesex Water Company announced the acquisition of water system assets serving 360 customers in Pinewood Acres, Delaware, through its subsidiary Tidewater Utilities, Inc. [1] - The acquisition was approved by the Delaware Public Service Commission, allowing Tidewater to operate the Pinewood Acres water utility assets [2] Group 1: Acquisition Details - Tidewater Utilities aims to ensure a smooth transition for Pinewood Acres residents, emphasizing safe and reliable water service [2] - The acquisition is expected to provide Pinewood Acres residents with consistent regulatory oversight and expanded customer service options [3] Group 2: Company Background - Tidewater Utilities has over 60 years of service in Delaware and is the largest private water supplier south of the Chesapeake & Delaware Canal, serving approximately 62,000 customers [4] - Middlesex Water Company, founded in 1897, provides water and wastewater services to over half a million people in New Jersey and Delaware, focusing on operational excellence and sustainable growth [5]