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Artesian Resources Corporation Reports Third Quarter and Year-To-Date 2026 Results

ARTNA
  • Artesian Resources Corporation reported third-quarter diluted net income per share of $0.65 for 2026, down from $0.68 in 2025.
  • Third-quarter net income totaled $6.8 million, a 3.0% decrease compared to the same period in 2025.
  • Third-quarter revenues reached $31.9 million, an increase of 4.8% or $1.5 million from the prior year.
  • Water sales revenue rose $0.8 million (3.4%) driven by higher consumption, more customers, a 0.62% DSIC rate effective July 1, 2026, & temporary rate increases.
  • Other utility operating revenue increased $0.5 million (12.6%) due to growth in industrial wastewater services & additional residential/commercial customers.
  • Non-utility operating revenue grew $0.1 million (7.5%) following fee increases for the Service Line Protection Plan effective January 1, 2026.
  • Operating expenses excluding depreciation & taxes increased $1.4 million (8.7%) due to higher supply, treatment, payroll, power, & administrative costs.
  • Federal & state income tax expense decreased $0.2 million (9.0%) due to lower pre-tax income & the lapse of the statute of limitations on 2022 tax positions.
  • Property taxes rose $0.4 million because of increased New Castle County tax rates & expanded taxable utility plant.
  • Interest charges increased $0.2 million due to higher borrowing levels on promissory notes & reserves for customer refund interest.
  • Year-to-date diluted net income per share increased 3.3% to $1.87 for the nine months ended September 30, 2026.
  • Year-to-date net income totaled $19.3 million, a 3.1% increase compared to $18.7 million in the same period of 2025.
  • Year-to-date revenues totaled $90.4 million, an increase of 6.4% or $5.5 million from the prior nine-month period.
  • Capital expenditures of $40.8 million were invested in water & wastewater infrastructure projects during the first nine months of 2026.
  • Investments included PFAS treatment upgrades, new wastewater treatment plants, aging infrastructure rehabilitation, & equipment upgrades.
  • Long-term debt increased to $181.9 million as of September 30, 2026, compared to $174.3 million in 2025.
  • Utility plant at original cost less accumulated depreciation rose to $842.7 million as of September 30, 2026.
Company
Artesian Resources Corporation
Keywords
Nasdaq:ARTNA, Artesian Resources Corporation