Artesian Resources reports Q4 EPS 37c vs. 34c last year

Reports Q4 revenue $26.80M, consensus $25M. Diluted net income per share was 37c compared to 34c for the same period in 2023. Revenues totaled $26.M for the three months ended December 31, 2024, $2.3M, or 9.4%, more than revenues for the three months ended December 31, 2023.”Our 2024 financial results benefitted from settlement with the Delaware Public Service Commission of our 2023 rate filing to recover investments in water utility plant made over the prior nine years,” stated CFO, David Spacht. “However, on-going needed investments in infrastructure and rising costs, such as for energy and water treatment, continue to pressure our operating margins. The continued provision of reliable service and clean water to our customers is expected to necessitate timely filing for and recovery of needed investments in utility plant and increasing operational costs in rates.”