The financials
Middlesex Water Company by the numbers
Middlesex Water Company (MSEX) reported revenue of $49M in Q1 2026 (quarter ended March 31, 2026), up 10.0% from the same quarter a year earlier. That came with net income of $11M (22% of revenue). For the full year FY2025, revenue was $195M (+1.5% year on year) and net income $43M. Its largest product in 2026-Q2 was Regulated Tariff Based Services at $29M, 90% of the disclosed total, just ahead of Unregulated Service Contracts at 9.7%.
| Income statement | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $49M | $44M | +10.0% |
| Operating income | $13M | $12M | +13% |
| Net income | $11M | $9.5M | +12% |
| Diluted EPS | $0.57 | $0.53 | +7.5% |
| Product | Revenue | Share |
|---|---|---|
| Regulated Tariff Based Services | $29M | 90% |
| Unregulated Service Contracts | $3.1M | 9.7% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q2 2026Total $32.0M (+18%)
Regulated Tariff Based Services grew +10% year on yearUnregulated Service Contracts -0.70% year on year
Segment Latestquarter on quarteryear on year
- Regulated Tariff Based Services$28.9M$28.9MQoQ +20%year on year +10%+20%+10%
- Unregulated Service Contracts$3.1M$3.1MQoQ +4.7%year on year -0.70%+4.7%-0.70%
Utilities - Regulated Water
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