Artesian well

Artesian Resources Corporation Reports Third Quarter and Year-To-Date 2023 Results

Retrieved on: 
Monday, November 6, 2023
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NEWARK, Del., Nov. 06, 2023 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (Nasdaq: ARTNA), a leading provider of water and wastewater services, and related services, on the Delmarva Peninsula, today announced third quarter and year-to-date results for 2023.

Key Points: 
  • NEWARK, Del., Nov. 06, 2023 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (Nasdaq: ARTNA), a leading provider of water and wastewater services, and related services, on the Delmarva Peninsula, today announced third quarter and year-to-date results for 2023.
  • Revenues totaled $26.6 million for both the three months ended September 30, 2023 and September 30, 2022 respectively.
  • Non-utility operating expenses decreased $0.5 million, or 28.5%, primarily due to a decrease in costs associated with a wastewater infrastructure design and construction contract.
  • Revenues totaled $74.3 million for the nine months ended September 30, 2023, $0.5 million, or 0.7%, more than revenues for the nine months ended September 30, 2022.

Artesian Resources Corporation Reports Second Quarter and Year-To-Date 2023 Results

Retrieved on: 
Monday, August 7, 2023
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NEWARK, Del., Aug. 07, 2023 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (Nasdaq: ARTNA), a leading provider of water and wastewater services, and related services, on the Delmarva Peninsula, today announced second quarter and year-to-date results for 2023.

Key Points: 
  • NEWARK, Del., Aug. 07, 2023 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (Nasdaq: ARTNA), a leading provider of water and wastewater services, and related services, on the Delmarva Peninsula, today announced second quarter and year-to-date results for 2023.
  • Diluted net income per share decreased to $0.44 in the second quarter and to $0.84 year-to-date, compared to $0.53 and $1.01 in the comparative periods a year ago.
  • Increased revenue by $0.2 million in the second quarter and $0.5 million year-to-date.
  • The primary refund calculation for both 2023 and 2022 was based on the average loan balance outstanding.

Artesian Resources Corporation Reports First Quarter 2023 Results

Retrieved on: 
Tuesday, May 9, 2023
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Diluted net income per share decreased 17.0% to $0.39 for the three months ended March 31, 2023 compared to $0.47 for the first quarter of 2022.

Key Points: 
  • Diluted net income per share decreased 17.0% to $0.39 for the three months ended March 31, 2023 compared to $0.47 for the first quarter of 2022.
  • Earnings in the first quarter this year were significantly impacted by continuing inflationary pressures, increased depreciation expense, increased short-term interest rates, and certain non-recurring expenses.
  • The rate filing seeks recovery of the significant necessary investments made in utility plant since our last filing in 2014, as well as recognition of increased operating costs,” said Nicki Taylor, President of Artesian Water Company, Inc. (“Artesian Water”), the principal subsidiary of Artesian Resources Corporation.
  • The PSC approved the change in the first quarter of 2023, with it retroactively effective to February 2022, resulting in a $0.1 million reduction in Artesian Water’s revenue in the first quarter of 2023.

Artesian Resources Corporation Reports 2022 Year-End Earnings and Fourth Quarter Results

Retrieved on: 
Thursday, March 9, 2023
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NEWARK, Del., March 09, 2023 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (Nasdaq: ARTNA), a leading provider of water and wastewater services, and a number of other related core business services, on the Delmarva Peninsula, today announced earnings results for the fourth quarter and year ended December 31, 2022.

Key Points: 
  • NEWARK, Del., March 09, 2023 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (Nasdaq: ARTNA), a leading provider of water and wastewater services, and a number of other related core business services, on the Delmarva Peninsula, today announced earnings results for the fourth quarter and year ended December 31, 2022.
  • Diluted earnings per share was $1.90 for the year ended December 31, 2022, a 6.3% increase compared to $1.79 for the same period of 2021.
  • “We are pleased to have delivered solid financial results for 2022.
  • Diluted earnings per share was $0.24 for the quarter ended December 31, 2022, a 24.5% decrease compared to $0.32 for the same period of 2021.