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Middlesex Water posts 34.4% YOY increase in Q4'18 EPS

Middlesex Water Co. reported fourth-quarter 2018 earnings applicable to common stock of $7.0 million, or 43 cents per share, up from $5.3 million, or 32 cents per share, in the same quarter of 2017.

Operating revenues totaled $33.3 million, compared with $31.5 million in the year-ago quarter. Operating income dropped year over year to $7.2 million from $8.3 million.

For full year, Middlesex Water posted earnings applicable to common stock of $32.3 million, or $1.96 per share in 2018, an increase from $22.7 million, or $1.38 per share, in the previous year.

Operating revenues improved to $138.1 million from $130.8 million, while operating income fell to $37.1 million from $37.8 million in 2017.