ARTNA · Artesian Resources Corporation

Artesian Resources Corporation delivered strong first quarter 2026 results, with diluted net income per share rising 7.5% to $0.57 compared to $0.53 in the same period of 2025. Net income increased 9.2% to $5.9 million, while revenues grew 7.3% to $27.8 million. The revenue growth was primarily driven by a $1.5 million increase in water sales revenue, attributed to temporary rate increases permitted under Delaware law pending permanent rate determination by the Delaware Public Service Commission (DEPSC), along with an increase in the number of customers served. Other utility operating revenue increased approximately $0.2 million, or 6.2%, due to growth in industrial wastewater services and additional residential and commercial wastewater customers. Non-utility operating revenue also contributed, rising approximately 9.5% driven by higher participation and fees in the Service Line Protection Plan (SLP). Operating expenses, excluding depreciation and income taxes, increased 5.7% to $0.9 million, mainly due to higher payroll, employee benefits, and supply costs, partially offset by lower administrative costs. The company invested $13.1 million in infrastructure during the quarter, focusing on main installations, aging infrastructure rehabilitation, and PFAS treatment upgrades. Management emphasized that these investments are essential for maintaining safe, reliable service and meeting evolving regulatory standards. No specific financial guidance was provided in the release.