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]

ISELIN, N.J., Jan. 30, 2026 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ: MSEX) today announced that its subsidiary, Tidewater Utilities, Inc. (TUI), has completed the acquisition of the water system assets serving 360 customers in Pinewood Acres in Delaware. “We are pleased to welcome Pinewood Acres residents into the Tidewater family,” said Bruce E. Patrick, President of TUI. “A smooth and transparent transition for our new Pinewood Acres customers is our top priority. Our team remains dedicated to ...

Core Viewpoint - The article discusses the investment positions held by the author in specific companies, indicating a long position in MSEX, VEOEY, and YORW, which may suggest potential investment opportunities in these stocks [1]. Group 1 - The author expresses personal opinions on the mentioned stocks, emphasizing that the article is not influenced by any external compensation [1]. - There is a clear distinction made that the author is not a licensed financial advisor, and the content should not be construed as financial advice [2]. - The article highlights the importance of individual due diligence and research before making investment decisions, particularly in high-risk trading styles [2]. Group 2 - The article notes that past performance of investments does not guarantee future results, indicating a cautionary approach to investment recommendations [3]. - It clarifies that the views expressed may not represent the broader opinions of Seeking Alpha, suggesting a diversity of perspectives among analysts [3]. - The article emphasizes that the authors are third-party contributors, which may include both professional and individual investors without formal licensing [3].

Core Viewpoint - The article discusses the investment positions held by the author in specific companies, indicating a long position in MSEX, VEOEY, and YORW, which may suggest potential investment opportunities in these stocks [1]. Group 1 - The author has a beneficial long position in shares of MSEX, VEOEY, and YORW, either through stock ownership, options, or other derivatives [1]. - The article expresses the author's personal opinions and is not receiving compensation for it, aside from Seeking Alpha [1]. Group 2 - The article emphasizes that it should not be considered financial advice, as the author is not a licensed financial advisor [2]. - Investors are encouraged to conduct their own due diligence and research prior to making any investment decisions [2]. - The article highlights the risks associated with short-term trading, options trading, and futures trading, which may not be suitable for all investors [2].

Core Viewpoint - Middlesex Water Company has appointed Robert Hoglund to its Board of Directors, effective January 1, 2026, enhancing its governance and financial expertise [1][5]. Group 1: Appointment Details - Robert Hoglund brings over 18 years of experience as Chief Financial Officer of Consolidated Edison, Inc., and has held senior financial leadership roles [2]. - His previous role as Managing Director in Citigroup's Mergers & Acquisitions Group involved advising Fortune 500 utilities and energy companies on significant financial transactions [2]. Group 2: Expertise and Contributions - Hoglund is actively engaged in corporate governance, focusing on finance modernization, enterprise risk management, and investor engagement [3]. - His commitment to strengthening financial resilience and guiding organizations through complex challenges in the utility and energy sectors is notable [3]. Group 3: Company Background - Middlesex Water Company, established in 1897, is a leading investor-owned water and wastewater utility serving over half a million people in New Jersey and Delaware [5]. - The company emphasizes employee engagement, operational excellence, superior customer experience, and sustainable growth to deliver value to its stakeholders [5].

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 people 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 deliver value to customers, investors, and communities [2] Upcoming Event - Senior Vice President, Chief Financial Officer, and Treasurer Rally Zerhouni will present at the Baird 2025 Global Industrial Conference in Chicago on November 12, 2025, at 10:50 a.m. CT [1]

Core Viewpoint - Middlesex Water Company reported its financial results for the third quarter of 2025, highlighting a focus on sustainable growth and an acquisition strategy to enhance operational excellence and customer service [2][3]. Financial Performance - For Q3 2025, Middlesex reported a net income of $14.0 million and diluted EPS of $0.77, a slight decrease from $14.3 million and $0.80 in Q3 2024 [3]. - Operating revenues for Q3 2025 were $54.1 million, down $1.0 million from $55.1 million in the same quarter last year, primarily due to lower consumption from unfavorable weather [3]. - Operating expenses for Q3 2025 decreased to $36.4 million from $37.6 million in Q3 2024, driven by higher capitalizable costs and lower legal and regulatory costs [4]. Year-to-Date Results - For the nine months ended September 30, 2025, net income was $34.2 million, a decrease of $1.3 million compared to the same period in 2024, with diluted EPS at $1.90 versus $1.98 [5]. - Year-to-date operating revenues increased to $147.7 million, up approximately $2.9 million from $144.8 million in 2024, attributed to rate increases and customer growth [6]. - Operating expenses for the nine months increased by $2.5 million, mainly due to higher variable production costs and increased depreciation [7]. Investment and Growth Strategy - Middlesex invested approximately $72 million in upgrading and enhancing its water and wastewater utility infrastructure during the first nine months of 2025, representing about 77% of its planned annual investment of $93 million [8]. - The company executed an asset purchase agreement to acquire the Pinewood Acres water utility assets in Delaware for $0.2 million, serving approximately 350 customers [10]. Dividend Announcement - The Board of Directors declared a fourth-quarter cash dividend of $0.36 per common share, marking a 5.88% increase from the previous dividend of $0.34, raising the annual dividend rate to $1.44 from $1.36 [11].