Overview

* Artesian Q2 net income rises 18.1% to $6.3 mln, driven by higher water sales

* Q2 revenue increases 4.1% to $28.5 mln, supported by Distribution System ImprovementCharges and SLPP revenue growth

* Co enters new 4-year electric supply deal, at an electric supply rate approximately 25% over the prior rate

Outlook

* Company focuses on infrastructure investments for long-term sustainability

* Artesian Resources ( ARTNB ) emphasizes addressing emerging contaminants for future compliance

Result Drivers

* WATER SALES - Increase in water sales revenue driven by Distribution System Improvement Charges and a temporary rate increase

* WASTEWATER GROWTH - Growth in wastewater customer base contributed to higher utility operating revenue

* SLPP REVENUE - Increase in Service Line Protection Plan rates led to higher non-utility operating revenue

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Water $23.08

Sales mln

Q2 EPS $0.61

Q2 Net $6.29

Income mln

Q2 Basic $0.61

EPS

Q2 $7.86

Operatin mln

g Income

Q2 $12.50

Utility mln

Operatin

g

Expenses

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 ( ARTNB ) is $46.00, about 28.7% above its August 1 closing price of $32.82

* The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 18 three months ago

Press Release:

(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.)