Overview

• Artesian Q3 net income rises 2.2% yr/yr, driven by temporary rate increase and customer growth

• Diluted EPS for Q3 increases to $0.68, reflecting strategic growth initiatives

• Company invested $40.5 mln in infrastructure to enhance service reliability and compliance

Outlook

• Artesian Resources focuses on operational excellence and regulatory compliance for future stability

• Company continues strategic growth plan with infrastructure investments

• Artesian invests in infrastructure to meet future regulatory standards

Result Drivers

• TEMPORARY RATE INCREASE - Water sales revenue rose due to a temporary rate increase and more customers served, despite lower consumption

• CUSTOMER GROWTH - Increase in wastewater revenue attributed to growth in customer base

• INFRASTRUCTURE INVESTMENT - $40.5 mln invested in water and wastewater infrastructure to enhance service reliability

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "strong buy"

• The average consensus recommendation for the water & related utilities peer group is "buy."

• Wall Street's median 12-month price target for Artesian Resources Corp is $46.00, about 29.4% above its October 29 closing price of $32.47

Press Release: ID:nGNX5KyMVH

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)