The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Middlesex Water beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue increased significantly. GAAP earnings per share grew significantly.
Margins increased across the board.
Middlesex Water logged revenue of $27.1 million. The two analysts polled by S&P Capital IQ hoped for revenue of $25.3 million on the same basis. GAAP reported sales were 16% higher than the prior-year quarter's $23.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.17. The two earnings estimates compiled by S&P Capital IQ predicted $0.18 per share. GAAP EPS of $0.17 for Q4 were 42% higher than the prior-year quarter's $0.12 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 42.0%, 150 basis points better than the prior-year quarter. Operating margin was 21.1%, 320 basis points better than the prior-year quarter. Net margin was 10.1%, 130 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $25.9 million. On the bottom line, the average EPS estimate is $0.17.
Next year's average estimate for revenue is $114.9 million. The average EPS estimate is $1.06.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 53 members out of 61 rating the stock outperform, and eight members rating it underperform. Among 26 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 22 give Middlesex Water a green thumbs-up, and four 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 $20.50.
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