Recap: Middlesex Water Q2 Earnings

Shares of Middlesex Water MSEX moved higher by 0.5% in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were up 12.73% over the past year to $0.62, which beat the estimate of $0.58.

Revenue of $36,701,000 up by 4.04% year over year, which beat the estimate of $36,000,000.

Outlook

Middlesex Water hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Technicals

Company's 52-week high was at $101.67

52-week low: $59.60

Price action over last quarter: Up 27.29%

Company Overview

Middlesex Water Co owns and operates regulated water utility and wastewater systems in the U.S. The firm primarily operates in the eastern states of New Jersey, Delaware, and Pennsylvania. The company has two operating segments, Regulated and Non-Regulated. The regulated business includes collecting and distributing water to residential, commercial, industrial, and fire protection consumers. The non-regulated business includes contract services for the operation of private water and wastewater systems. The majority of the company's revenue is derived from the Regulated segment and from residential customers.

Posted In: BZI-RecapsEarnings

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