Artesian Resources Corporation Reports 2025 Year-End Earnings and Fourth Quarter Results

Core Insights - Artesian Resources Corporation reported a net income of $22.8 million for the year ended December 31, 2025, reflecting an increase of $2.4 million, or 11.9%, compared to 2024. Diluted net income per share rose by 11.6% to $2.21 from $1.98 in 2024 [2][10] - Total revenues for 2025 reached $112.9 million, an increase of $5.0 million, or 4.6%, from the previous year [2] Year-End Results - Net income for 2025 was $22.8 million, up from $20.4 million in 2024, marking an 11.9% increase [2] - Diluted net income per share increased to $2.21, up 11.6% from $1.98 in 2024 [2][10] - Revenues totaled $112.9 million, a 4.6% increase from $107.9 million in 2024 [2] Revenue Breakdown - Water sales revenue increased by $2.8 million, or 3.2%, due to temporary rate increases and customer growth [3] - Other utility operating revenue rose by approximately $1.5 million, or 11.2%, driven by increased wastewater revenue from customer growth [3] - Non-utility operating revenue increased by approximately $0.7 million, or 10.2%, mainly from the Service Line Protection Plan [4] Expense Analysis - Operating expenses, excluding depreciation and income taxes, increased by $2.7 million, or 4.4% [5] - Utility operating expenses rose by $2.6 million, with notable increases in payroll, administrative costs, and supply costs [5] - Depreciation and amortization expenses increased by $0.2 million, or 1.3%, due to ongoing investments in utility infrastructure [6] Fourth Quarter Results - Net income for Q4 2025 was $4.1 million, a 7.5% increase from $3.8 million in Q4 2024 [9] - Diluted net income per share for Q4 increased by 8.1% to $0.40 from $0.37 in the same period last year [9] - Revenues for Q4 totaled $28.0 million, up 4.3% from $26.8 million in Q4 2024 [9] Capital Expenditures - The company invested $58.8 million in water and wastewater infrastructure projects in 2025, focusing on rehabilitation of aging infrastructure and new installations [16] - Investments included upgrades to treatment facilities and enhancements to meet regulatory standards [17] Company Overview - Artesian Resources Corporation operates as a holding company providing water and wastewater services on the Delmarva Peninsula, with its principal subsidiary being the oldest regulated water utility in the region [18] - The company supplies 9.4 billion gallons of water annually through 1,515 miles of main to over a third of Delaware's population [18]