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Artesian Resources (ARTNA) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 12, 2026 · Artesian Resources (ARTNA) Q2 2026 earnings results →

Q2 2026 Revenue up 7% year over year to $30.7M · 21¢ of every $1 of revenue kept as net profit · operating margin 28.1%

Artesian Resources made $30.7M in Q2 2026 (+7% Y/Y): Water Sales $24.4M, Other Utility Operating Revenue $4.2M, Non Utility Operating Revenue $2.0M. Operating margin 28.1%, net earnings $6.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 12, 2026.

Revenue$30.7M
Year over year+7%
Operating margin28.1%
Net earnings$6.6M
Operating cash flow$10.2M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $30.7M in Q2 2026, up 7% year over year and up 10% from the previous quarter. Water Sales was the largest line at 80% of revenue. Water Sales added $1.3M year over year (up 6%), 64% of the total change.

Operating profit was $8.6M, a 28.1% margin (up 0.6 points year over year). Of the extra revenue versus Q2 2025, 36% reached operating profit, above the 28% margin then. Total costs grew 7% against revenue growth of 7%. Net earnings were $6.6M, up 5% year over year. The effective tax rate was 0.0%.

Operating cash flow was $10.2M (up 28% year over year), 155% of net earnings. Non-cash charges added back $3.5M of depreciation and amortization and $77K of share-based compensation. Capital expenditures of $12.7M exceeded it, leaving free cash flow of −$2.5M.

Quarterly history

Artesian Resources revenue by quarterArtesian Resources revenue by quarter$26.9MQ4 2024$25.9MQ1 2025$28.5MQ2 2025$30.5MQ3 2025$28.0MQ4 2025$27.8MQ1 2026$30.7MQ2 2026
Artesian Resources net earnings by quarterArtesian Resources net earnings by quarter$3.8MQ4 2024$5.4MQ1 2025$6.3MQ2 2025$7.0MQ3 2025$4.1MQ4 2025$5.9MQ1 2026$6.6MQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 12, 2026$30.7M+7%28.1%$6.6M$10.2M
Q1 202610-QMay 8, 2026$27.8M+7%22.6%$5.9M$8.6M
Q4 202510-KMar 16, 2026$28.0M+4%20.6%$4.1M$10.5M
Q3 202510-QNov 7, 2025$30.5M+5%28.3%$7.0M$11.0M
Q2 202510-QAug 8, 2025$28.5M+4%27.5%$6.3M$7.9M
Q1 202510-QMay 9, 2025$25.9M+6%21.4%$5.4M$11.0M
Q4 202410-KMar 26, 2025$26.9M+9%21.0%$3.8M$6.7M

Charts

Artesian Resources: revenue growth, year over year and quarter over quarterArtesian Resources: revenue growth, year over year and quarter over quarterY/YQ/Q+9%Q4 2024+6%-4%Q1 2025+4%+10%Q2 2025+5%+7%Q3 2025+4%-8%Q4 2025+7%-1%Q1 2026+7%+10%Q2 2026
Latest (Q2 2026): Y/Y +7%, Q/Q +10%.
Artesian Resources: where the cash came from (+) and went (−), TTM to Q2 2026Artesian Resources: where the cash came from (+) and went (−), TTM to Q2 2026Capital spending−$58.4MOther financing$44.4MOperating cash flow$40.3MDividends−$12.9MCash drawn (+) / kept (−)−$9.5MNet borrowing (+) / repaid (−)−$4.3MShares issued$344KAsset & business sales$126K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Artesian Resources: profit against cash, quarter by quarterArtesian Resources: profit against cash, quarter by quarterNet incomeOperating cash flow$6.8M$10.7MQ3 2024$3.8M$6.7MQ4 2024$5.4M$11.0MQ1 2025$6.3M$7.9MQ2 2025$7.0M$11.0MQ3 2025$4.1M$10.5MQ4 2025$5.9M$8.6MQ1 2026$6.6M$10.2MQ2 2026
Latest (Q2 2026): Net income $6.6M, Operating cash flow $10.2M.
Artesian Resources: diluted shares by fiscal yearArtesian Resources: diluted shares by fiscal year9MFY20209MFY20219MFY202210MFY202310MFY202410MFY2025
+10.1% since FY2020: more shares outstanding (issuance, stock pay).
Artesian Resources: long-term debt falling due (FY2025)Artesian Resources: long-term debt falling due (FY2025)$2.1M2026$2.3M2027$27.0M2028$2.1M2029$2.1M2030$141MLater
Cash $52K, short-term investments —, long-term debt $176M at 2025-12-31.
Artesian Resources in its industry: growth against margin (11 companies, SIC 4941)Artesian Resources in its industry: growth against margin (11 companies, SIC 4941)revenue growth, year over year →↑ operating marginmedian +5%median 28%AWKWTRGCWTHTOAWRMSEXCWCOYORWGWRSCDZIARTNA (+7%, 28%)
Water Supply; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Artesian Resources

Artesian Resources Corporation, or Artesian Resources, is a Delaware corporation incorporated in 1927, that is the holding company of seven wholly-owned subsidiaries offering water, wastewater and other services in Delaware, Maryland and Pennsylvania. The Company’s principal executive offices are located at 664 Churchmans Road, Newark, Delaware 19702. Our principal subsidiary, Artesian Water Company, Inc., is the oldest and largest investor-owned public water utility on the Delmarva Peninsula and has been providing superior water service since 1905. We distribute and sell water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in the states of Delaware, Maryland and Pennsylvania. We provide wastewater services to customers in Delaware.

In its own words, from its 10-K, filed Mar 16, 2026.

Artesian Resources against its Water Supply peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +7% against the peers' median +5%. Operating margin: 28.1% against the peers' median 35.0%.

CompanyQuarterRevenueY/YOp. margin
ARTNA Artesian ResourcesQ2 2026$30.7M+7%28.1%
AWK American Water Works CompanyQ3 2026$1.5B+4%42.5%
WTRG Essential UtilitiesQ3 2026$508M+7%37.9%
CWT California Water ServiceQ3 2026$331M+5%25.0%
HTO H2O AmericaQ3 2026$250M+4%24.2%
AWR American States WaterQ3 2026$193M+5%35.0%
MSEX Middlesex WaterQ3 2026$60.2M+11%37.0%
CWCO Consolidated WaterQ2 2026$32.9M-2%11.4%
YORW York WaterQ3 2026$24.3M+20%43.3%

Source: Artesian Resources 10-Q on SEC EDGAR · CIK 863110 · Water Supply

13F: who owns ARTNA and who is buying

Largest holders of ARTNA (13F)Largest holders of ARTNA (13F)T. Rowe Price Investment Manageme…$31.0MVanguard Group$16.1MVanguard Capital Management LLC$13.6MRenaissance Technologies LLC$10.2MBlackRock$7.1MMorgan Stanley$7.1MAdage Capital Partners GP, L.L.C.$6.8MDimensional Fund Advisors LP$6.5MTwo Sigma Investments, LP$6.2MKestra Advisory Services, LLC$5.6M
Funds' net buying of ARTNA by quarter (13F)Funds' net buying of ARTNA by quarter (13F)$1.6M2024-09−$1.6M2024-12−$8.7M2025-03−$1.3M2025-06−$1.3M2025-09$11.5M2025-12−$12.1M2026-03−$3.4M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on ARTNA

History

Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results

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