Every material Form 8-K Middlesex Water filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Middlesex Water's board elected Robert Hoglund, former CFO of Consolidated Edison, as a director effective January 1, 2026, and he will serve on the Audit and Enterprise Risk Committees. The company also agreed on December 19, 2025 to amend the employment agreements of CFO Mohammed G. Zerhouni and COO Gregory Sorensen, setting severance terms and short-term incentive eligibility.
Robert Hoglund elected to the board on December 19, 2025, effective January 1, 2026; filing describes him as independent
Hoglund appointed to the Audit Committee and Enterprise Risk Committee, effective January 1, 2026
Employment agreement amendments with Mohammed G. Zerhouni (SVP, CFO and Treasurer) and Gregory Sorensen (VP and COO) cover a lump sum payment and benefit continuation if terminated without cause or resigning for good reason
Executives are also made eligible for annual short-term incentive compensation
Middlesex Water reported third quarter 2025 results with diluted EPS of $0.77, down from $0.80 a year earlier, and operating revenues of $54.1 million, down $1.0 million, which it attributed to lower consumption from unfavorable weather. The company also raised its quarterly dividend 5.88% to $0.36 per share and signed an agreement to buy Pinewood Acres water utility assets in Delaware, which matters to shareholders because the earnings decline is the headline measure while the dividend increase and acquisition are secondary.
Q3 2025 diluted EPS was $0.77 versus $0.80 in Q3 2024; net income was $14.0 million versus $14.3 million.
Operating revenues were $54.1 million, down $1.0 million from $55.1 million, due to lower consumption driven by unfavorable weather.
Quarterly dividend raised 5.88% to $0.36 per share, payable December 1, 2025, for an annual rate of $1.44.
Asset purchase agreement to acquire Pinewood Acres water utility assets in Delaware for $0.2 million, serving about 350 customers.
Middlesex Water reported second-quarter 2025 net income of $10.8 million, up from $10.5 million a year earlier, with operating revenues of $49.3 million, up $0.2 million. For the first six months, net income fell $1.0 million to $20.3 million, mainly because of a one-time 2024 recovery, while the Delaware Public Service Commission approved a rate increase of $5.5 million in annual operating revenues effective July 3, 2025.
Q2 2025 diluted EPS was $0.60 versus $0.59 in Q2 2024; operating revenues were $49.3 million versus $49.1 million.
Six-month diluted EPS was $1.13 versus $1.18 in the first half of 2024; six-month net income was $20.3 million, down $1.0 million.
Delaware rate increase of $5.5 million in annual operating revenues, based on a 9.5% authorized return on common equity, took effect July 3, 2025.
Board declared a $0.34 per share third-quarter dividend, payable September 2, 2025, to holders of record as of August 15, 2025.
Middlesex Water Company entered into an at-the-market equity sales agreement on May 12, 2025, allowing it to sell common stock up to $110,000,000 through BofA Securities, Robert W. Baird & Co., and Janney Montgomery Scott. The company says proceeds would fund capital expenditures, plant equipment, and general corporate purposes, and it is not obligated to sell any shares; sales would dilute existing shareholders' ownership.
Maximum aggregate offering amount: $110,000,000 of common stock, sold from time to time at prevailing market prices
Sales agents receive commissions of up to 2.0% of gross proceeds, plus reimbursement of certain expenses
Sales are made under a Form S-3 shelf registration (File No. 333-287177) filed May 12, 2025, with a prospectus supplement filed the same day
Middlesex is not obligated to sell any shares and may terminate the agreement at any time
Middlesex Water reported first quarter 2025 operating revenue of $44.3 million, up $3.8 million from a year earlier, driven by rate increases, higher consumption and customer growth. Net income fell to $9.5 million, and diluted EPS fell to $0.53 from $0.59, mainly because the first quarter of 2024 included a one-time recovery of $4.3 million (net of tax) in previously incurred costs.
Operating revenue was $44.3 million, up from $40.5 million in the first quarter of 2024.
Net income was $9.5 million, compared with $10.7 million a year earlier; diluted EPS was $0.53, compared with $0.59.
The company completed the approximately $4.6 million acquisition of Ocean View water utility assets in Delaware in April 2025.
The Board declared a second quarter dividend of $0.34 per common share, payable June 2, 2025, to holders of record as of May 15, 2025.
Middlesex Water reported 2024 net income of $44.4 million and diluted EPS of $2.47, up from $31.5 million and $1.76 in 2023. Revenue rose $25.6 million to $191.9 million, driven mainly by a New Jersey base rate increase and higher weather-driven customer demand, which points to stronger earnings for shareholders.
2024 net income of $44.4 million, up $12.8 million from 2023; diluted EPS of $2.47 versus $1.76
2024 revenues of $191.9 million, up $25.6 million from $166.3 million; Middlesex System revenues rose $19.9 million on the base rate increase approved in March 2024
Fourth quarter 2024 net income of $8.8 million and diluted EPS of $0.49, versus $5.8 million and $0.32 in the fourth quarter of 2023
Board declared a first quarter 2025 dividend of $0.34 per share, payable March 3, 2025; Ocean View water utility asset purchase for about $4.6 million expected to close by April 2025
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Middlesex Water filing is on SEC EDGAR ↗. 8-K briefs of other companies →