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Middlesex Water records drop in Q2 earnings

Middlesex Water Co. on July 31 posted second-quarter 2019 earnings applicable to common stock of $8.1 million, or 49 cents per share, down from $8.6 million, or 52 cents per share, in the prior-year period.

Operating revenues came in at $33.4 million, compared to $34.9 million in the year-ago quarter. Operating income dropped year over year to $9.0 million from $10.7 million a year earlier.

The New Jersey-based water utility established annual earnings expectations at $1.94 per share to $1.98 per share for 2019.