Middlesex(US:MSEX)2025-02-28 21:11Financial Performance - Middlesex reported net income of $44.4 million for 2024, a 40.7% increase from $31.5 million in 2023[2] - Diluted EPS for 2024 was $2.47, compared to $1.76 in 2023, reflecting a 40.4% increase[6] - Revenues for 2024 were $191.9 million, up $25.6 million or 15.4% from $166.3 million in 2023[5] - Fourth quarter net income was $8.8 million, a 51.7% increase from $5.8 million in the same quarter of 2023[8] Operating Expenses - Operating expenses increased to $92.4 million in 2024, a rise of 11.2% from $83.1 million in 2023[7] - Average diluted shares outstanding increased slightly from 17,847 in 2023 to 17,946 in 2024[17] Capital Investments - The company invested $75 million in capital expenditures in 2024 to enhance water and wastewater utility infrastructure[6] - Planned infrastructure investments from 2025 to 2027 total $387 million, including $105 million for PFAS treatment[10] Dividends - The company declared a first quarter cash dividend of $0.34 per common share, continuing a 52-year history of annual dividend increases[12] Acquisitions - The Delaware Public Service Commission approved Tidewater's acquisition of Ocean View water utility assets for approximately $4.6 million[11]