Middlesex Water
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Middlesex Water beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP earnings per share increased significantly.
Margins increased across the board.
Revenue details
Middlesex Water logged revenue of $32.4 million. The three analysts polled by S&P Capital IQ expected revenue of $30.8 million on the same basis. GAAP reported sales were 13% higher than the prior-year quarter's $28.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $0.38. The three earnings estimates compiled by S&P Capital IQ forecast $0.34 per share. GAAP EPS of $0.38 for Q3 were 19% higher than the prior-year quarter's $0.32 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 51.8%, 300 basis points better than the prior-year quarter. Operating margin was 33.5%, 380 basis points better than the prior-year quarter. Net margin was 19.0%, 110 basis points better than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $25.3 million. On the bottom line, the average EPS estimate is $0.17.
Next year's average estimate for revenue is $107.0 million. The average EPS estimate is $0.86.
Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 51 members out of 59 rating the stock outperform, and eight members rating it underperform. Among 23 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 18 give Middlesex Water a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Middlesex Water is outperform, with an average price target of $20.00.
Can your retirement portfolio provide you with enough income to last? You'll need more than Middlesex Water. Learn about crafting a smarter retirement plan in "The Shocking Can't-Miss Truth About Your Retirement." Click here for instant access to this free report.
- Add Middlesex Water to My Watchlist.