Artesian Resources Corporation ( (ARTNA) ) has released its Q1 earnings. Here is a breakdown of the information Artesian Resources Corporation presented to its investors.
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Artesian Resources Corporation operates as a holding company providing water and wastewater services on the Delmarva Peninsula, with its principal subsidiary, Artesian Water Company, being the oldest and largest regulated water utility in the region. In the first quarter of 2025, Artesian Resources reported a net income of $5.4 million, marking a 23.2% increase from the previous year, with diluted net income per share rising to $0.53. The company’s revenues grew by 5.5% to $25.9 million, driven by increased water sales and a rise in the number of customers served. Operating expenses saw a modest increase of 3.1%, attributed to higher administrative and utility costs. Artesian Water Company has filed for a rate increase with the Delaware Public Service Commission to support its capital improvement initiatives and manage rising operational costs, including a significant increase in electric supply expenses. The company invested $10.4 million in infrastructure projects during the first quarter, underscoring its commitment to maintaining high-quality service. Looking forward, Artesian Resources remains focused on its growth strategy and infrastructure investments to enhance operational efficiencies and continue serving its expanding customer base.