Artesian Resources Corporation reported a notable increase in financial performance for the first quarter of 2026, with total operating revenues reaching $27.8 million, a 7.3% increase from $25.9 million in the same period of 2025. The growth was primarily driven by a $1.5 million rise in water sales, attributed to two temporary rate increases implemented in June and November 2025, as well as an increase in the customer base. Net income applicable to common stock also saw a 9.2% increase, rising to $5.9 million from $5.4 million year-over-year, reflecting the company's effective management of operating expenses, which increased by $1.2 million during the same period.
In terms of operational metrics, Artesian Resources served approximately 99,500 water customers in Delaware, a 1.8% increase from the previous year, while the number of wastewater customers rose by 6.4% to about 9,300. The company’s strategic focus on expanding its customer base and enhancing service offerings has contributed to this growth. Additionally, the company reported a significant increase in non-utility operating revenue, which rose by 9.5% to $2.0 million, driven by higher participation in service line protection plans.
The company’s balance sheet showed total assets of $866.9 million as of March 31, 2026, up from $851.2 million at the end of 2025. Stockholders' equity also increased to $252.8 million, reflecting retained earnings growth and additional paid-in capital. Artesian's long-term debt increased to $183.4 million, up from $174.3 million, as the company continues to invest in infrastructure improvements and expansions, including new water and wastewater treatment facilities.
Looking ahead, Artesian Resources remains focused on strategic growth opportunities, particularly in expanding its water and wastewater services across the Delmarva Peninsula. The company plans to continue its capital investment in infrastructure to meet increasing demand and regulatory requirements, particularly in light of new environmental regulations regarding water quality. Artesian is also exploring partnerships with local governments and developers to enhance its service capabilities and customer reach, positioning itself for sustained growth in the coming years.
About ARTESIAN RESOURCES CORP
Artesian Resources Corporation is a Delaware-based utility holding company focused on providing water and wastewater services across Delaware, Maryland, and Pennsylvania. Its primary subsidiary, Artesian Water Company, is the largest investor-owned water utility on the Delmarva Peninsula. With significant market opportunities in underserved areas, Artesian is expanding its service territories and enhancing infrastructure to meet regulatory standards, including new PFAS and lead regulations, while also offering service line protection plans.
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