Core Insights - Artesian Water Company has appointed Deirdre S. Smith as the new Director of Planning, responsible for various planning initiatives including water main renewals and wastewater system projects [1][3] - Ms. Smith brings over 35 years of experience from the engineering consulting industry, previously serving as Vice-President at Verdantas and COO at Duffield Associates [4] - The company emphasizes the importance of Ms. Smith's engineering background and local business experience in enhancing reliable water and wastewater services in the Delmarva region [5] Company Overview - Artesian Resources Corporation operates as a holding company for subsidiaries providing water and wastewater services on the Delmarva Peninsula [6] - Artesian Water Company is the oldest and largest regulated water utility in the region, supplying 9.5 billion gallons of water annually through 1,491 miles of water main to over a third of Delaware residents [6]

Core Insights - Artesian Water Company has appointed Deirdre S. Smith as the new Director of Planning, responsible for various planning initiatives including water main renewals and subdivision planning for water and wastewater systems [1][3] - Deirdre S. Smith brings over 35 years of experience in the engineering consulting industry, having previously served as Vice-President at Verdantas and COO at Duffield Associates [4] - Artesian Resources Corporation operates as a holding company providing water and wastewater services on the Delmarva Peninsula, supplying 9.5 billion gallons of water annually to over a third of Delaware residents [6] Company Overview - Artesian Water Company is the oldest and largest regulated water utility on the Delmarva Peninsula, providing water service since 1905 [6] - The company operates a network of 1,491 miles of water main [6] Leadership and Community Engagement - Nicki Taylor, President and CEO of Artesian, expressed confidence that Smith's engineering background and local experience will enhance the reliability of water and wastewater services in the region [5] - Deirdre S. Smith is actively involved in the Delaware business community, serving as President of the Committee of 100 and on the Board of Family Promise of Northern New Castle County [5]

Newark, Del., April 15, 2025 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (NASDAQ:ARTNA), a leading provider of water and wastewater services, and a number of other related core business services, on the Delmarva Peninsula, today announced that its 2024 Annual Report is available electronically to shareholders through its website at https://www.artesianwater.com/investor-relations/annual-report/. If any shareholder would like to receive a print copy of the 2024 Annual Report, they can request one free ...

Newark, Del., April 15, 2025 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (Nasdaq: ARTNA), a leading provider of water and wastewater services, and a number of other related core business services, on the Delmarva Peninsula, today announced that its 2024 Annual Report is available electronically to shareholders through its website at https://www.artesianwater.com/investor-relations/annual-report/. If any shareholder would like to receive a print copy of the 2024 Annual Report, they can request one fre ...

Revenue and Customer Growth - Total operating revenues for the year ended December 31, 2024, were $108.0 million, an increase of $9.1 million, or 9.2%, compared to 2023[161]. - Water sales revenue increased by $8.0 million, or 10.1%, primarily due to a temporary rate increase of 14.6% implemented on November 28, 2023, and a final approved rate increase of approximately 15.2% effective June 12, 2024[162]. - The number of metered water customers in Delaware increased by approximately 1.6% and in Maryland by approximately 2.3% compared to December 31, 2023[147]. - The number of Delaware wastewater customers increased by approximately 6.5% compared to December 31, 2023[148]. - Residential water service revenues amounted to $53.9 million, an increase of $4.4 million, or 8.8%, primarily due to a rate increase and increased consumption[166]. - Commercial water service revenues reached $19.4 million, an increase of $1.8 million, or 10.1%, driven by a rate increase[167]. - Government and other water service revenues increased to $14.7 million, up $1.9 million, or 14.8%, primarily due to a rate increase and increased consumption[168]. - Other utility operating revenue increased by 7.7% to $13.1 million in 2024 from $12.2 million in 2023, primarily due to an increase in the number of customers served[169]. Operating Expenses and Financial Performance - Operating expenses, excluding depreciation and income taxes, increased by $4.1 million, or 7.3%, for the year ended December 31, 2024 compared to 2023[171]. - Net income applicable to common stock increased by $3.7 million, or 22.1%, with total revenue rising by $9.1 million[179]. - Cash flow from operating activities was $36.8 million for the year ended December 31, 2024, compared to $31.9 million in 2023, reflecting improved financial performance[183]. Capital Expenditures and Future Investments - Capital expenditures in 2024 were $45.9 million, a decrease from $62.2 million in 2023, focusing on infrastructure upgrades and new facilities[184]. - Projected capital expenditures for 2025 are expected to be approximately $46.4 million, with significant investments in PFAS treatment equipment and infrastructure rehabilitation[182]. Financing and Cash Flow - Cash flows provided by financing activities decreased to $7.1 million in 2024 from $31.4 million in 2023, primarily due to reduced contributions in aid of construction[187]. - The company has a $40 million line of credit with Citizens Bank, fully available as of December 31, 2024, with an interest rate linked to SOFR[188]. - Total contractual cash obligations amount to $294.6 million, with significant payments due in the next five years[190]. - Artesian Water Company entered into a Financing Agreement for up to $901,170 to replace a water transmission main in New Castle County, Delaware[194]. Risk Management and Contracts - The fixed rate for the electric supply contract with MidAmerican was lowered by 5.6% starting in May 2021, while a new contract with WGL Energy will see a 44.4% increase starting December 2024[195]. - The company has a minimum water purchase obligation of 0.5 million gallons per day under an interconnection agreement with Chester Water Authority, effective until December 31, 2026[196]. - Total expenditure for the elevated water storage tank painting agreement was amended to $2.2 million over four years[197]. - The company manages interest rate risk through fixed rate long-term debt with rates ranging from 4.24% to 5.96%, maturing between 2028 and 2049[200]. - Artesian Water has $60 million in variable rate lines of credit, with no outstanding balances as of December 31, 2024[200]. - The company mitigates risks from commodity price increases by recovering costs through rate increases to customers[200].

Earnings Announcement - Artesian Resources Corporation announced its earnings for Q4 and the year ended December 31, 2024, on March 25, 2025[5]. - The press release detailing the earnings is attached as Exhibit 99.1, which is incorporated by reference[5]. - The financial statements and exhibits related to the earnings announcement are included in the filing[7]. Company Information - The company is listed on NASDAQ under the trading symbol ARTNA[4]. - David B. Spacht serves as the Chief Financial Officer of Artesian Resources Corporation[11]. Legal and Compliance - The report is not deemed "filed" under the Securities Exchange Act of 1934, thus limiting liability under that section[6].

Core Insights - Artesian Resources Corporation reported improved earnings for 2024, with a net income of $20.4 million, reflecting a 22.1% increase from 2023 [2][3] - The company invested $45.9 million in infrastructure during 2024 to enhance water and wastewater systems [2][17] Year-End Results - Net income for the year ended December 31, 2024, was $20.4 million, a $3.7 million increase compared to 2023 [2] - Diluted net income per share rose to $1.98 from $1.67 in 2023 [2] - Total revenues reached $108.0 million, marking a $9.1 million increase or 9.2% from the previous year [3] - Water sales revenue increased by $8.0 million, or 10.1%, due to a rate increase and higher consumption [3] Operating Performance - Other utility operating revenue grew by approximately $0.9 million, or 7.7%, driven by increased wastewater revenue [4] - Operating expenses, excluding depreciation and income taxes, rose by $4.1 million, or 7.3% [5] - Utility operating expenses increased by $3.6 million, or 7.8%, mainly due to higher supply, treatment, and payroll costs [5] Fourth Quarter Results - For Q4 2024, net income was $3.9 million, a 10.5% increase from Q4 2023 [11] - Revenues for the quarter totaled $26.8 million, up $2.3 million or 9.4% from the same period in 2023 [12] - Water sales revenue in Q4 increased by $1.9 million, or 9.7%, attributed to a rate increase and more customers [12] Capital Expenditures - The company invested $45.9 million in various infrastructure projects, including upgrades to treatment plants and new equipment [17] - Investments aimed to ensure reliable service and compliance with government mandates [17] Company Overview - Artesian Resources Corporation is a leading provider of water and wastewater services on the Delmarva Peninsula, with a history dating back to 1905 [18] - The company supplies approximately 9.4 billion gallons of water annually to over a third of Delaware's population [18]

Core Insights - Artesian Resources Corporation reported improved earnings for 2024, with a net income of $20.4 million, reflecting a 22.1% increase from 2023 [2][11] - The company invested $45.9 million in infrastructure during 2024 to enhance water and wastewater services [2][17] Year-End Results - Total revenues for 2024 reached $108.0 million, a 9.2% increase compared to 2023 [3] - Water sales revenue increased by $8.0 million, or 10.1%, primarily due to a rate increase effective November 28, 2023, along with higher water consumption and customer growth [3] - Other utility operating revenue rose by approximately $0.9 million, or 7.7%, driven by increased wastewater revenue from a growing customer base [4] Operating Expenses - Operating expenses, excluding depreciation and income taxes, increased by $4.1 million, or 7.3% [5] - Utility operating expenses rose by $3.6 million, or 7.8%, mainly due to higher costs in supply and treatment, payroll, and administrative expenses [5] - Non-utility operating expenses increased by $0.3 million, or 7.1%, attributed to plumbing repair costs and payroll [6] Tax and Other Income - Federal and state income tax expenses increased by $1.0 million, or 15.2%, due to higher pre-tax income and changes in tax regulations [7] - Other income decreased by $0.4 million, primarily due to a reduction in allowance for funds used during construction [9] Fourth Quarter Results - For Q4 2024, net income was $3.9 million, a 10.5% increase compared to Q4 2023 [11] - Revenues for Q4 totaled $26.8 million, a 9.4% increase from the same quarter in 2023 [12] - Water sales revenue in Q4 increased by $1.9 million, or 9.7%, due to the same rate increase and customer growth [12] Capital Expenditures - The company invested $45.9 million in various infrastructure projects in 2024, including upgrades to water treatment facilities and the construction of a new wastewater treatment plant [17] Company Overview - Artesian Resources Corporation is a leading provider of water and wastewater services on the Delmarva Peninsula, supplying 9.4 billion gallons of water annually [18]

Group 1 - Artesian Resources Corporation declared a quarterly dividend of $0.3014, payable on February 21, 2025, to shareholders of record as of February 7, 2025, resulting in an annualized dividend rate of $1.2056 [1] - This marks the 129th consecutive quarterly dividend paid by Artesian to its shareholders [1] Group 2 - Artesian Resources operates as a holding company for subsidiaries providing water and wastewater services on the Delmarva Peninsula [2] - The principal subsidiary, Artesian Water Company, is the oldest and largest regulated water utility in the region, supplying 8.8 billion gallons of water annually through 1,470 miles of water main to over a third of Delaware's population [2]

Group 1 - The article discusses the importance of a company's track record in valuing its shareholders, particularly through dividend investing [1] - It highlights the author's journey in dividend growth investing as a means to achieve financial independence [1] Group 2 - The article does not provide specific financial data or performance metrics related to any companies or industries [2][3] - There are no recommendations or advice regarding investment suitability for particular investors mentioned in the article [2]