Filing Flows › Middlesex Water (MSEX) › Q1 2026
Middlesex Water (MSEX) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Middlesex Water (MSEX) reported revenue of $48.7M for the first quarter 2026 (Q1 2026), +10% from a year earlier and +4% from the quarter before. Operating margin was 26.9%, net earnings $10.6M (21.8% of revenue).
Middlesex Water, Q1 2026: revenue $48.7M (+10% year over year), operating margin 26.9%, net earnings $10.6M, operating cash flow $11.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $48.7M | +4% | +10% |
| Operating profit | $13.1M | +17% | +13% |
| Net earnings | $10.6M | +23% | +12% |
| Operating cash flow | $11.7M | -36% | -15% |
What changed
Revenue was $48.7M in Q1 2026, up 10% year over year and up 4% from the previous quarter.
Operating profit was $13.1M, a 26.9% margin (up 0.8 points year over year). Of the extra revenue versus Q1 2025, 35% reached operating profit, above the 26% margin then. Total costs grew 9% against revenue growth of 10%. Net earnings were $10.6M, up 12% year over year. The effective tax rate was 10.8%.
Operating cash flow was $11.7M (down 15% year over year), 111% of net earnings. Non-cash charges added back $8.2M of depreciation and amortization and $401K of share-based compensation. Working capital and other items used $7.5M.
Questions
What was Middlesex Water's revenue in the first quarter 2026?
Middlesex Water (MSEX) reported revenue of $48.7M for the first quarter 2026 (Q1 2026), +10% from a year earlier and +4% from the quarter before.
Was Middlesex Water profitable in the first quarter 2026?
Operating profit was $13.1M (26.9% of revenue) and net earnings $10.6M.
Source: Middlesex Water 10-Q on SEC EDGAR.