Artesian Resources Corporation Reports 2024 Year-End Earnings and Fourth Quarter Results

About this update from Artesian Resources Corporation

[{"type":"image","alt":"Artesian Resources Corporation","displaySize":"","headline":null,"caption":"Artesian Resources Corporation","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":160,"url":"https://media.zenfs.com/en/globenewswire.com/10400831725491cd95c3ac1c658d012c"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/e2vx6TTk.Sn_r_0G2TZkLA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTIyNDtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/10400831725491cd95c3ac1c658d012c","width":300,"height":160}},"lazy":false},{"type":"text","content":"NEWARK, Del., March 25, 2025 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (Nasdaq: ARTNA), a leading provider on the Delmarva Peninsula of water and wastewater services, and a number of other related business services, today announced earnings results for the fourth quarter and year ended December 31, 2024.","length":314,"tagName":"p"},{"type":"text","content":"“I am pleased to report improved earnings in 2024 as we remain focused on critical investments in infrastructure and managing costs,” stated President and CEO, Nicholle Taylor. “In 2024 alone we invested $45.9 million in infrastructure, as we remain committed to providing customers with water and wastewater systems that are resilient and protective of public health and the environment.”","length":389,"tagName":"p"},{"type":"text","content":"Year-End Results","length":16,"tagName":"p"},{"type":"text","content":"Net income for the year ended December 31, 2024 was $20.4 million, a $3.7 million, or 22.1%, increase compared to net income recorded during the year ended December 31, 2023. Diluted net income per share was $1.98 compared to $1.67 for the same period in 2023.","length":260,"tagName":"p"},{"type":"text","content":"Revenues totaled $108.0 million for the twelve months ended December 31, 2024, $9.1 million, or 9.2%, more than revenues for the twelve months ended December 31, 2023.","length":167,"tagName":"p"},{"type":"text","content":"Water sales revenue increased $8.0 million, or 10.1%, primarily due to a rate increase placed into effect on November 28, 2023. In addition, there was an increase in overall water consumption and an increase in the number of customers served.","length":242,"tagName":"p","attribs":{}},{"type":"text","content":"Other utility operating revenue increased approximately $0.9 million, or 7.7%. Thi...

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