NEWARK, DE — Artesian Resources Corporation (Nasdaq: ARTNA) reported higher net income and revenue for 2025 as the water and wastewater utility continued infrastructure investments and customer growth across the Delmarva Peninsula.
The company said net income for the year ended December 31, 2025 totaled $22.8 million, up $2.4 million, or 11.9%, from 2024.
Diluted earnings per share rose 11.6% to $2.21, compared with $1.98 the previous year.
Total revenue reached $112.9 million for 2025, an increase of $5.0 million, or 4.6%, from 2024.
Water sales revenue increased $2.8 million, or 3.2%, driven in part by temporary rate increases permitted under Delaware law while permanent rates are reviewed by the Delaware Public Service Commission, along with customer growth and distribution system improvement charge revenue.
Wastewater revenue also rose as the number of customers served increased.
Non-utility revenue grew primarily due to higher participation and fee increases in the company’s Service Line Protection Plan.
Operating expenses excluding depreciation and income taxes increased $2.7 million, or 4.4%, reflecting higher payroll, administrative, power, and treatment costs.
Depreciation and amortization expenses rose $0.2 million due to ongoing investments in utility infrastructure.
Artesian invested $58.8 million in water and wastewater infrastructure projects during 2025.
The projects included rehabilitation of aging systems, installation of new mains, upgrades to pumping and treatment stations, meter reading equipment improvements, and upgrades to address per- and polyfluoroalkyl substances treatment.
Chair, President and Chief Executive Officer Nicki Taylor said the investments are intended to support system reliability and future demand.
“Our continued investment in critical water and wastewater infrastructure supports sustainable growth and reliable, environmentally responsible service,” Taylor said.
She added that new facilities and regulatory approvals will help expand capacity in parts of Delaware.
“With the completion of our wastewater facility in Milton, Delaware, and recent regulatory approval to expand treatment capacity in Sussex County, we are enhancing system resilience and positioning our operations to meet growing demand,” Taylor said.
For the fourth quarter of 2025, net income totaled $4.1 million, up $0.3 million, or 7.5%, from the same period in 2024.
Quarterly revenue increased to $28.0 million from $26.8 million a year earlier.
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