Middlesex Water Co (OQ:MSEX)
Business Focus: Water Supply & Irrigation Systems
| Sector: Utilities | Industry: Water Utilities |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 1500 Ronson Rd P O Box 1500 ISELIN NJ 08830 |
| Tel: | N/A |
| Website: | www.middlesexwater.com |
| IR: | See website |
| Key People | ||
| Dennis W. Doll Chairman of the Board | Nadine Duchemin-Leslie President, Chief Executive Officer, Director | A. Bruce O'connor Chief Financial Officer, Senior Vice President, Treasurer |
| Georgia M. Simpson Chief Technology Officer, Vice President - Information Technology | Robert K. Fullagar Vice President - Operations | Jay L. Kooper Vice President, General Counsel, Secretary |
| Lorrie B. Ginegaw Vice President - Human Resources | G. Christian Andreasen Vice President - Enterprise Engineering | Bernadette M. Sohler Vice President - Corporate Affairs |
| Business Overview |
| Middlesex Water Company is a water utility company. The Company owns and operates regulated water utility and wastewater systems primarily in New Jersey and Delaware. It also operates water and wastewater systems under contract on behalf of municipal and private clients primarily in New Jersey and Delaware. The Company operates through two segments: Regulated and Non-Regulated. The Regulated segment is engaged in the business of collecting, treating and distributing water on a retail and wholesale basis to residential, commercial, industrial and fire protection customers in parts of New Jersey and Delaware. The Non-Regulated segment primarily consists of non-regulated contract services for the operation and maintenance of municipal and private water and wastewater systems in New Jersey and Delaware. The Company's subsidiaries include Tidewater Utilities, Inc. (Tidewater), Pinelands Water Company, Utility Service Affiliates, Inc. and Utility Service Affiliates (Perth Amboy) Inc. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Middlesex Water Co revenues increased 2% to $166.3M. Net income applicable to common stockholders decreased 26% to $31.4M. Revenues reflect Regulated segment increase of 2% to $154.6M, Non-regulated segment increase of 3% to $12.8M. Net income was offset by Regulated segment income decrease of 19% to $35.8M. Dividend per share increased from $1.18 to $1.26. |
| Employees: | 355 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $1,277M as of Dec 31, 2023 |
| Annual revenue (TTM): | $166.27M as of Dec 31, 2023 |
| EBITDA (TTM): | $68.67M as of Dec 31, 2023 |
| Net annual income (TTM): | $31.40M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$59.96M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $406.25M as of Dec 31, 2023 |
| Shares outstanding: | 17,813,509 as of Mar 26, 2024 |
| Index Membership: | S&P 600 Small Cap |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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