Middlesex Water Company (MSEX) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Revenue | 48.71M | 46.98M | 54.09M | 49.32M | 44.3M | 47.11M | 55.1M | 49.15M | 40.52M | 38.6M | 46.72M | 42.8M | 38.16M | 38.82M | 47.73M | 39.68M | 36.2M | 34.02M | 39.87M | 36.7M |
| Revenue Growth % | 9.96% | -0.27% | -1.83% | 0.36% | 9.32% | 22.03% | 17.95% | 14.82% | 6.21% | -0.57% | -2.13% | 7.86% | 5.42% | 14.1% | 19.71% | 8.13% | 11.23% | -1.74% | -0.12% | 4.04% |
| Cost of Revenue | 0 | 30.32M | 30.68M | 23.07M | 21.11M | 24.71M | 25.36M | 21.82M | 20.46M | 19.07M | 22.58M | 21.2M | 20.26M | 20.09M | 20.31M | 19.56M | 19.14M | 18.41M | 18.95M | 17.96M |
| Gross Profit | 0 | 16.66M | 23.41M | 26.26M | 23.19M | 22.39M | 29.74M | 27.32M | 20.06M | 19.53M | 24.13M | 21.6M | 17.9M | 18.73M | 27.42M | 20.13M | 17.06M | 15.62M | 20.92M | 18.74M |
| Gross Margin % | 0% | 35.46% | 43.28% | 53.23% | 52.35% | 47.54% | 53.98% | 55.59% | 49.5% | 50.6% | 51.66% | 50.46% | 46.91% | 48.25% | 57.45% | 50.72% | 47.12% | 45.9% | 52.48% | 51.07% |
| Gross Profit Growth % | -100% | -25.61% | -21.28% | -3.89% | 15.62% | 14.65% | 23.23% | 26.5% | 12.07% | 4.25% | -11.98% | 7.31% | 4.94% | 19.94% | 31.05% | 7.38% | 20.25% | -5.86% | -4.77% | 6.14% |
| Operating Expenses | 35.61M | 5.45M | 5.71M | 12.35M | 11.63M | 11.86M | 12.24M | 12.01M | 10.19M | 11.29M | 11.31M | 10.93M | 10.41M | 10.59M | 10.85M | 10.04M | 4.53M | 9.28M | 9.5M | 8.93M |
| Other Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBITDA | 13.1M | 19.71M | 26.23M | 21.46M | 19.47M | 18.34M | 24.72M | 22.34M | 15.84M | 15.58M | 20.39M | 18.01M | 14.69M | 15.49M | 23.31M | 16.66M | 19.35M | 15.88M | 15.78M | 16.42M |
| EBITDA Margin % | 26.9% | 41.96% | 48.5% | 43.5% | 43.95% | 38.92% | 44.87% | 45.46% | 39.1% | 40.36% | 43.64% | 42.08% | 38.5% | 39.89% | 48.83% | 41.99% | 53.45% | 46.68% | 39.57% | 44.73% |
| EBITDA Growth % | -32.71% | 7.5% | 6.11% | -3.97% | 22.89% | 17.7% | 21.29% | 24.06% | 7.85% | 0.59% | -12.54% | 8.08% | -24.07% | -2.5% | 47.74% | 1.5% | 62.18% | 17.01% | -14.57% | 12.6% |
| Depreciation & Amortization | 0 | 8.51M | 8.53M | 7.54M | 7.91M | 7.81M | 7.22M | 7.03M | 5.98M | 7.34M | 7.56M | 7.34M | 7.2M | 7.34M | 6.73M | 6.58M | 6.83M | 9.55M | 4.35M | 6.6M |
| D&A / Revenue % | 0% | 18.11% | 15.77% | 15.3% | 17.86% | 16.57% | 13.11% | 14.3% | 14.75% | 19% | 16.19% | 17.15% | 18.87% | 18.91% | 14.11% | 16.57% | 18.86% | 28.06% | 10.92% | 17.99% |
| Operating Income (EBIT) | 13.1M | 11.21M | 17.7M | 13.91M | 11.56M | 10.53M | 17.5M | 15.31M | 9.87M | 8.24M | 12.82M | 10.67M | 7.49M | 8.15M | 16.57M | 10.09M | 12.52M | 6.34M | 11.42M | 9.81M |
| Operating Margin % | 26.9% | 23.85% | 32.73% | 28.21% | 26.09% | 22.35% | 31.76% | 31.16% | 24.34% | 21.35% | 27.45% | 24.93% | 19.63% | 20.98% | 34.73% | 25.42% | 34.6% | 18.63% | 28.65% | 26.74% |
| Operating Income Growth % | 13.37% | 6.42% | 1.15% | -9.16% | 17.15% | 27.73% | 36.49% | 43.55% | 31.71% | 1.18% | -22.64% | 5.76% | -40.19% | 28.54% | 45.09% | 2.79% | 122.28% | -23.93% | -13.3% | 4.57% |
| Interest Expense | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Interest Coverage | 4.08x | 3.51x | 4.66x | 4.36x | 4.92x | 4.28x | 6.25x | 4.45x | 4.66x | 2.61x | 4.55x | 3.94x | 3.55x | 4.60x | 10.41x | 6.31x | 9.44x | 3.81x | 6.93x | 8.14x |
| Interest / Revenue % | 2.05% | 2.13% | 1.85% | 2.03% | 2.26% | 2.12% | 1.81% | 2.03% | 2.47% | 2.59% | 2.14% | 2.34% | 2.62% | 2.58% | 2.1% | 2.52% | 2.76% | 2.94% | 2.51% | 2.72% |
| Non-Operating Income | -1000K | -1000K | -1000K | -1000K | -916K | -1000K | -1000K | -1000K | 1000K | -1000K | -1000K | -1000K | -884K | -828K | -316K | -425K | -94K | -931K | -1000K | -512K |
| Pretax Income | 11.89M | 9.43M | 15.39M | 12.19M | 10.64M | 9.31M | 16.06M | 13.93M | 11.96M | 5.66M | 10.74M | 9.56M | 6.61M | 7.32M | 16.26M | 9.66M | 12.43M | 5.41M | 10.41M | 9.3M |
| Pretax Margin % | 24.41% | 20.06% | 28.45% | 24.71% | 24.02% | 19.76% | 29.14% | 28.34% | 29.52% | 14.67% | 22.98% | 22.34% | 17.31% | 18.85% | 34.06% | 24.35% | 34.34% | 15.89% | 26.11% | 25.35% |
| Income Tax | 1.28M | 820K | 1.43M | 1.41M | 1.16M | 503K | 1.74M | 3.38M | 1.28M | -102K | 746K | -341K | 738K | 148K | 1.97M | 795K | 329K | -1.83M | -1.06M | -1.62M |
| Effective Tax Rate % | 10.81% | 8.7% | 9.3% | 11.56% | 10.92% | 5.4% | 10.83% | 24.29% | 10.69% | -1.8% | 6.95% | -3.57% | 11.17% | 2.02% | 12.1% | 8.23% | 2.65% | -33.84% | -10.23% | -17.43% |
| Net Income | 10.61M | 8.61M | 13.96M | 10.78M | 9.48M | 8.8M | 14.32M | 10.55M | 10.68M | 5.76M | 9.99M | 9.9M | 5.87M | 7.17M | 14.29M | 8.87M | 12.1M | 7.24M | 11.48M | 10.92M |
| Net Margin % | 21.77% | 18.32% | 25.8% | 21.85% | 21.4% | 18.69% | 25.99% | 21.46% | 26.36% | 14.93% | 21.38% | 23.13% | 15.38% | 18.47% | 29.94% | 22.35% | 33.43% | 21.27% | 28.78% | 29.76% |
| Net Income Growth % | 11.88% | -2.26% | -2.52% | 2.2% | -11.26% | 52.71% | 43.33% | 6.51% | 82.04% | -19.61% | -30.1% | 11.65% | -51.5% | -0.91% | 24.53% | -18.81% | 75.18% | -12.88% | -9.9% | 12.46% |
| EPS (Diluted) | 0.00 | 0.46 | 0.77 | 0.60 | 0.53 | -1.98 | 0.80 | 0.59 | 0.59 | 0.32 | 0.56 | 0.55 | 0.33 | 0.40 | 0.81 | 0.50 | 0.69 | 0.41 | 0.65 | 0.62 |
| EPS Growth % | -100% | 123.23% | -3.75% | 1.69% | -10.17% | -718.75% | 42.86% | 7.27% | 78.79% | -20% | -30.86% | 10% | -52.17% | -2.44% | 24.62% | -19.35% | 76.92% | -14.58% | -9.72% | 12.73% |
| EPS (Basic) | 0.00 | 0.47 | 0.77 | 0.60 | 0.53 | -1.99 | 0.80 | 0.59 | 0.60 | 0.32 | 0.56 | 0.56 | 0.33 | 0.40 | 0.81 | 0.50 | 0.69 | 0.42 | 0.65 | 0.62 |
| Diluted Shares Outstanding | 0 | 18.43M | 18.15M | 17.99M | 17.95M | 17.95M | 17.95M | 17.94M | 17.93M | 17.82M | 17.87M | 17.83M | 17.77M | 17.64M | 17.74M | 17.7M | 17.65M | 17.58M | 17.61M | 17.6M |