ARTESIAN RESOURCES CORP
Business
Artesian Resources Corporation is a holding company operating seven wholly-owned subsidiaries that provide water, wastewater, and related services across Delaware, Maryland, and Pennsylvania. The company distributes and sells water to residential, commercial, industrial, municipal and utility customers, provides wastewater collection and treatment services, and offers contract operations and service-line protection plans. Primary operating segments include Artesian Water (Delaware), Artesian Water Maryland, Artesian Water Pennsylvania, Artesian Wastewater (Delaware), and non-utility subsidiaries providing contract operations and infrastructure design services, with geographic concentration on the Delmarva Peninsula.
Summary from 10-K filed 2026-03-16
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Total Operating Revenues | 113 | 108 | 99 | 99 | 91 | |
| Utility operating expenses | 52 | 50 | 46 | 44 | 41 | |
| Non-utility operating expenses | 5 | 5 | 4 | 7 | 4 | |
| Depreciation and amortization | 14 | 14 | 13 | 13 | 12 | |
| Current | 7 | 7 | 3 | 4 | 3 | |
| Deferred | 1 | 578,000 | 3 | 2 | 2 | |
| Property and other taxes | 6 | 6 | 6 | 6 | 6 | |
| Total Operating Expenses | 85 | 82 | 76 | 75 | 69 | |
| Operating income | 28 | 26 | 22 | 24 | 22 | |
| Allowance for funds used during construction (AFUDC) | 2 | 2 | 2 | 1 | 823,000 | |
| Miscellaneous | 1 | 1 | 1 | 1 | 1 | |
| Total other income, net | 4 | 3 | 3 | 3 | 2 | |
| Income before interest charges | 32 | 29 | 26 | 27 | 24 | |
| Interest charges | 9 | 9 | 9 | 9 | 8 | |
| Net income applicable to common stock | 23 | 20 | 17 | 18 | 17 | |
| Basic (in Dollars per share) | 2.21 | 1.98 | 1.67 | 1.9 | 1.79 | |
| Diluted (in Dollars per share) | 2.21 | 1.98 | 1.67 | 1.9 | 1.79 | |
| Basic (in Shares) | 10 | 10 | 10 | 9 | 9 | |
| Diluted (in Shares) | 10 | 10 | 10 | 9 | 9 | |
| Cash dividends per share of common stock (in Dollars per share) | 1.23 | 1.18 | 1.14 | 1.09 | 1.05 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Utility plant, at original cost less accumulated depreciation | 802 | 747 | 714 | 668 | 590 | |
| Cash and cash equivalents | 52,000 | 1 | 3 | 1 | 92,000 | |
| Accounts and other receivables (less provision for expected credit loss 2025 - $340; 2024 - $343) | 9 | 11 | 13 | 14 | 8 | |
| Income tax receivable | 769,000 | 624,000 | 2 | 2 | 2 | |
| Unbilled operating revenues | 2 | 2 | 2 | 2 | 1 | |
| Materials and supplies | 4 | 4 | 6 | 5 | 2 | |
| Prepaid property taxes | 2 | 2 | 2 | 2 | 2 | |
| Prepaid expenses and other | 4 | 3 | 3 | 3 | 3 | |
| Total current assets | 21 | 25 | 31 | 28 | 19 | |
| Non-utility property (less accumulated depreciation 2025-$1,146; 2024-$1,116) | 4 | 4 | 4 | 4 | 4 | |
| Other deferred assets | 10 | 7 | 9 | 11 | 5 | |
| Goodwill | 2 | 2 | 2 | 2 | 0 | |
| Operating lease right of use assets | 414,000 | 414,000 | 506,000 | 467,000 | 451,000 | |
| Total other assets | 15 | 12 | 15 | 17 | 9 | |
| Regulatory assets, net | 13 | 14 | 7 | 7 | 6 | |
| Total Assets | 851 | 799 | 767 | 720 | 625 | |
| Common stock | 10 | 10 | 10 | 10 | 9 | |
| Preferred stock | 0 | 0 | 0 | 0 | 0 | |
| Additional paid-in capital | 144 | 144 | 143 | 107 | 105 | |
| Retained earnings | 95 | 85 | 77 | 71 | 64 | |
| Total stockholders' equity | 250 | 239 | 230 | 188 | 178 | |
| Long-term debt, net of current portion | 174 | 177 | 178 | 176 | 143 | |
| Total stockholders' equity and long-term debt | 424 | 416 | 409 | 364 | 321 | |
| Lines of credit | 6 | 0 | 0 | 20 | 27 | |
| Current portion of long-term debt | 2 | 2 | 2 | 2 | 2 | |
| Accounts payable | 14 | 11 | 10 | 11 | 10 | |
| Accrued expenses | 5 | 5 | 4 | 4 | 4 | |
| Overdraft payable | 103,000 | 31,000 | 9,000 | 43,000 | 30,000 | |
| Accrued interest | 916,000 | 930,000 | 2 | 989,000 | 917,000 | |
| Income taxes payable | 389,000 | 500,000 | 2,000 | 6,000 | 0 | |
| Customer and other deposits | 3 | 3 | 3 | 2 | 2 | |
| Other | 2 | 2 | 2 | 3 | 1 | |
| Total current liabilities | 34 | 26 | 22 | 44 | 47 | |
| Commitments and contingencies (Note 11) | — | — | — | — | — | |
| Net advances for construction | 374,000 | 2 | 3 | 4 | 4 | |
| Operating lease liabilities | 407,000 | 404,000 | 503,000 | 466,000 | 440,000 | |
| Regulatory liabilities | 26 | 30 | 26 | 29 | 21 | |
| Deferred investment tax credits | 395,000 | 409,000 | 423,000 | 439,000 | 456,000 | |
| Deferred income taxes | 55 | 52 | 58 | 55 | 53 | |
| Total deferred credits and other liabilities | 82 | 85 | 88 | 88 | 80 | |
| Net contributions in aid of construction | 311 | 272 | 248 | 224 | 177 | |
| Total Liabilities and Stockholders' Equity | 851 | 799 | 767 | 720 | 625 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Amortization of debt expense | 352,000 | 353,000 | 355,000 | 354,000 | 351,000 | |
| Amortization of deferred income tax regulatory liability | −1 | −916,000 | −444,000 | 0 | — | |
| Provision for expected credit loss | 140,000 | 233,000 | 92,000 | 68,000 | −224,000 | |
| Deferred income taxes, net | 2 | 1 | 4 | 2 | 3 | |
| Stock compensation expense | 246,000 | 219,000 | 254,000 | 152,000 | 193,000 | |
| AFUDC, equity portion | −2 | −1 | −1 | −894,000 | −556,000 | |
| Accounts and other receivables | 5 | −257,000 | 807,000 | −4 | 318,000 | |
| Income tax receivable | −145,000 | 1 | −167,000 | 602,000 | −2 | |
| Unbilled operating revenues | −49,000 | 73,000 | −348,000 | −141,000 | 86,000 | |
| Materials and supplies | 562,000 | 2 | −1 | −3 | −398,000 | |
| Income taxes payable | −111,000 | 498,000 | −4,000 | 6,000 | −28,000 | |
| Prepaid property taxes | 380,000 | 81,000 | −83,000 | 697,000 | −415,000 | |
| Prepaid expenses and other | −582,000 | 206,000 | −419,000 | −216,000 | −444,000 | |
| Other deferred assets | −485,000 | 2 | 2 | −5 | −445,000 | |
| Regulatory assets | 152,000 | −206,000 | −497,000 | −37,000 | −236,000 | |
| Regulatory liabilities | −3 | −3 | −3 | 7 | −535,000 | |
| Accounts payable | 2 | 305,000 | 284,000 | −4 | 4 | |
| Accrued expenses | −686,000 | 552,000 | 614,000 | −564,000 | −71,000 | |
| Accrued interest | −14,000 | −1 | 1 | 72,000 | −13,000 | |
| Customer deposits and other, net | 564,000 | 634,000 | −476,000 | 545,000 | 270,000 | |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 40 | 37 | 32 | 24 | 31 | |
| Capital expenditures (net of AFUDC, equity portion) | −59 | −46 | −62 | −48 | −41 | |
| Proceeds from sale of assets | 129,000 | 623,000 | 99,000 | 65,000 | 90,000 | |
| NET CASH USED IN INVESTING ACTIVITIES | −59 | −45 | −62 | −55 | −41 | |
| Repayments under lines of credit agreements | −2 | 0 | −23 | −41 | −11 | |
| Borrowings under lines of credit agreements | 8 | 0 | 3 | 35 | 11 | |
| Increase (decrease) in overdraft payable | 72,000 | 22,000 | −34,000 | 13,000 | −75,000 | |
| Proceeds from contributions in aid of construction and advances | 30 | 24 | 25 | 17 | 17 | |
| Payouts for contributions in aid of construction and advances | −4 | −4 | −2 | −1 | −1 | |
| Net proceeds from issuance of common stock | 342,000 | 347,000 | 37 | 2 | 1 | |
| Equity issuance cost | 0 | 0 | −317,000 | 0 | 0 | |
| Issuance of long-term debt | — | 758,000 | 6 | 32 | 4 | |
| Dividends paid | −13 | −12 | −11 | −10 | −10 | |
| Debt issuance costs | 0 | 0 | 0 | −135,000 | −19,000 | |
| Principal repayments of long-term debt | −2 | −2 | −2 | −2 | −2 | |
| NET CASH PROVIDED BY FINANCING ACTIVITIES | 17 | 7 | 31 | 32 | 9 | |
| NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | −1 | −1 | 1 | 1 | 64,000 | |
| Utility plant received as construction advances and contributions | 11 | 9 | 3 | 8 | 4 | |
| Contractual amounts of contributions in aid of construction due from developers included in accounts receivable and class action settlement funds included in other deferred assets (See Note 15 - Legal Proceedings) | 7 | 641,000 | 2 | — | — | |
| Change in amounts included in accounts payable and accrued payables related to capital expenditures | 875,000 | 3 | −3 | — | — | |
| Interest paid | 8 | 10 | 8 | 8 | 8 | |
| Income taxes paid | 7 | 6 | 4 | 3 | 5 | |
| Income taxes refunded | 162,000 | 701,000 | 0 | 0 | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is ARTESIAN RESOURCES CORP's CIK number?
ARTESIAN RESOURCES CORP's SEC CIK number is 0000863110 (863110). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find ARTESIAN RESOURCES CORP's SEC filings?
All of ARTESIAN RESOURCES CORP's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did ARTESIAN RESOURCES CORP last report earnings?
ARTESIAN RESOURCES CORP (ARTNB) most recently filed an earnings 8-K with the SEC on May 6, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0000863110-26-000038). This is ARTESIAN RESOURCES CORP's most recent earnings filing of record — not a forecast of its next earnings date.
What is ARTESIAN RESOURCES CORP's most recent earnings 8-K?
ARTESIAN RESOURCES CORP's latest earnings 8-K (Item 2.02) was filed May 6, 2026 under accession 0000863110-26-000038. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View ARTESIAN RESOURCES CORP's latest earnings 8-K →
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