Middlesex $(MSEX)$ reported FY 2025 net income of USD 42.8 million and diluted EPS of USD 2.36, compared with diluted EPS of USD 2.47 in FY 2024. Operating revenues in FY 2025 were USD 194.7 million. In Q4 2025, net income was USD 8.6 million with diluted EPS of USD 0.46, versus USD 8.8 million and USD 0.49 a year earlier. During 2025, Middlesex invested about USD 96 million in water and wastewater utility infrastructure. The company plans about USD 126 million of infrastructure investment in 2026 and USD 506 million from 2026 through 2028, including about USD 255 million for PFAS treatment at its Carl J. Olsen surface water treatment plant in Edison, New Jersey. In February 2026, New Jersey regulators approved a settlement in Middlesex’s general base rate case, increasing annual operating revenues by USD 14.5 million with new rates effective February 23, 2026, and authorized a 9.6% return on common equity and a 54.25% common equity ratio. The board declared a quarterly dividend of USD 0.36 per share, payable March 2, 2026.

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