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Middlesex Water Company MSEX Regulated — Consolidated Operating Income

Other segment segments

Non – Regulated
$590K

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Other financials

Income statement

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Revenue$48.7M+10.0%
Operating income$13.1M+13.4%
Net income$10.6M+11.9%
EPS (diluted)$0.57+7.5%

Balance sheet

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Cash & equivalents$3.7M+39.8%
Total debt$381.0M-46.5%
Total equity$501.0M+11.6%
Total assets$1.4B+8.4%

Cash flow

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Operating cash flow$11.7M-14.9%
CapEx$25.1M+47.0%
Free cash flow-$3.7M+13.0%

Valuation

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Market cap$1.08B+14.0%
Enterprise value$1.46B-11.7%
P/E24.6×+2.7×
P/S5.4×+0.6×

Profitability

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Operating margin28.1%0.0pp
Net margin22.1%0.0pp
FCF margin-8.3%-3.2pp

Returns & leverage

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Return on equity9.3%-0.6pp
Debt / equity0.8×-0.8×
Current ratio0.4×-0.1×

Where this comes from

Reported directly by Middlesex Water Company in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The source filing: Middlesex Water Company’s 10-Q, filed April 30, 2026.

Filed
Apr 30, 2026, 4:10 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001628280-26-028887
Line itemThree months ended March 31, 2026Three months ended March 31, 2025
Non – Regulated73$63
Consolidated Depreciation$7,036$6,527
Operating Income:
Regulated$12,512$10,701
Non – Regulated590$856
Consolidated Operating Income$13,102$11,557
Other Income:
Regulated$2,177$1,901

Item 1. Financial Statements (Unaudited):

FAQ

What is Middlesex Water Company's regulated — consolidated operating income?
Middlesex Water Company (MSEX) reported regulated — consolidated operating income of $12.51M in Q1 2026.
How has Middlesex Water Company's regulated — consolidated operating income changed year-over-year?
Middlesex Water Company's regulated — consolidated operating income increased by 16.9% year-over-year, from $10.7M to $12.51M.
What is the long-term trend for Middlesex Water Company's regulated — consolidated operating income?
Over 2 years (2023 to 2025), Middlesex Water Company's regulated — consolidated operating income has grown at a 19.2% compound annual growth rate (CAGR), from $35.82M to $50.87M.
What does regulated — consolidated operating income mean?
Calculated as operating revenues minus operating expenses, this metric represents the core profitability of the regulated utility segment before interest and taxes. It serves as a primary indicator of the segment's ability to generate earnings from its core utility operations.

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