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Middlesex Water's Business Segments
Middlesex Water's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of Q1 FY2026
Reportable Segments
2
Largest Segment
Regulated
Total Revenue
$ 49
Regions Reported
-
Revenue Share by Reportable Segment - Q1 FY2026
- Regulated94%
- Non-Regulated6.3%
Revenue by Reportable Segment - Q1 FY2026
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Regulated | $ 46 | 94% |
| Non-Regulated | $ 3 | 6.3% |
Revenue by Product & Service Category - Q1 FY2026
- Regulated Tariff-Based Services14.8%
- Unregulated Service Contracts6.1%
Revenue by Product & Service Category - Q1 FY2026
| Category | Revenue (Millions) | % of Total |
|---|---|---|
| Regulated Tariff-Based Services | $ 7 | 14.8% |
| Unregulated Service Contracts | $ 3 | 6.1% |
Product and service categories are a supplemental disclosure and are not required to sum to consolidated revenue or to the reportable segments above.
Description of Middlesex Water
Middlesex Water Company (Middlesex) was incorporated as a water utility company
in 1897 and owns and operates regulated water utility and wastewater systems in
New Jersey, Delaware and Pennsylvania. Middlesex also operates water and wastewater
systems under contract on behalf of municipal and private clients in New Jersey
and Delaware.
The terms “the Company, Middlesex Water Company and its subsidiaries, including Tidewater Utilities, Inc. (Tidewater) and Tidewater’s wholly-owned subsidiaries, Southern Shores Water Company, LLC (Southern Shores) and White Marsh Environmental Systems, Inc. (White Marsh). The Company’s other subsidiaries are Pinelands Water Company (Pinelands Water) and Pinelands Wastewater Company (Pinelands Wastewater) (collectively, Pinelands), Utility Service Affiliates, Inc. (USA), Utility Service Affiliates (Perth Amboy) Inc., (USA-PA), Tidewater Environmental Services, Inc. (TESI) and Twin Lakes Utilities, Inc. (Twin Lakes).
The Company’s principal executive offices are located at 1500 Ronson Road, Iselin, New Jersey 08830. Our telephone number is (732) 634-1500. Our internet website address is http://www.middlesexwater.com. We make available, free of charge through our internet website, reports and amendments filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, after such material is electronically filed with or furnished to the United States Securities and Exchange Commission (the SEC).
The terms “the Company, Middlesex Water Company and its subsidiaries, including Tidewater Utilities, Inc. (Tidewater) and Tidewater’s wholly-owned subsidiaries, Southern Shores Water Company, LLC (Southern Shores) and White Marsh Environmental Systems, Inc. (White Marsh). The Company’s other subsidiaries are Pinelands Water Company (Pinelands Water) and Pinelands Wastewater Company (Pinelands Wastewater) (collectively, Pinelands), Utility Service Affiliates, Inc. (USA), Utility Service Affiliates (Perth Amboy) Inc., (USA-PA), Tidewater Environmental Services, Inc. (TESI) and Twin Lakes Utilities, Inc. (Twin Lakes).
The Company’s principal executive offices are located at 1500 Ronson Road, Iselin, New Jersey 08830. Our telephone number is (732) 634-1500. Our internet website address is http://www.middlesexwater.com. We make available, free of charge through our internet website, reports and amendments filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, after such material is electronically filed with or furnished to the United States Securities and Exchange Commission (the SEC).
Middlesex Water Company primarily operates two main segments: Regulated and Non-Regulated. Each of these segments encompasses a variety of products and services designed to meet the needs of their customers, including residential, commercial, and industrial clients. Let’s delve into the specifics of each segment.
1. Regulated Segment
The Regulated segment is the backbone of Middlesex Water Company’s operations, contributing a significant majority of the company’s total revenues (approximately 88%) and net income (around 93%). This segment includes the following key areas:
A. Water Utility Services
- Water Supply and Distribution: Middlesex Water provides potable drinking water to its residential and commercial customers. The water is sourced from wells and reservoirs, treated to meet regulatory standards, and then distributed through an extensive network of pipelines.
- Water Quality Testing: The company conducts regular testing to ensure the water meets all safety and quality standards set forth by regulatory authorities. This includes monitoring for contaminants, chemical levels, and biological safety.
B. Wastewater Utility Services
- Sewage Treatment: Middlesex Water operates sewage treatment facilities that process wastewater from residential, commercial, and industrial sources. This service is crucial for environmental protection and public health.
- Sewer Maintenance: The company is also responsible for the maintenance and operation of sewer systems, ensuring that they are functioning effectively and efficiently to prevent blockages and backups.
C. Infrastructure Management
- Capital Projects: Investment in the upgrading and expansion of water and wastewater infrastructure is a significant aspect of the regulated segment. This includes pipeline replacement, facility upgrades, and technologies to improve efficiency.
- Emergency Response: Middlesex Water has protocols in place for addressing emergencies, including main breaks and contamination incidents, ensuring minimal disruption to service and the safety of the community.
D. Regulatory Compliance
- Rate Setting: As a regulated utility, Middlesex Water operates under the guidelines set by state regulatory bodies, which oversee rate structures, service standards, and operational aspects of the utility.
- Environmental Regulations: Compliance with environmental laws and regulations is critical. The company proactively engages in practices that meet or exceed required standards for water treatment and wastewater management.
Non-Regulated Segment
The Non-Regulated segment, while contributing a smaller portion of total revenue compared to the regulated activities, is essential for diversifying the companys operations and increasing overall revenue potential. This segment includes:
A. Contracted Services
- Third-Party Water Testing and Analysis: Middlesex Water offers analytical services to municipalities, industries, and private clients, providing water testing and analysis to ensure compliance with health and environmental standards.
- Consulting Services: The company provides expert consulting to water utilities and municipalities on efficiency improvements, compliance, infrastructure development, and project management.
B. Water Solutions and Technologies
- Innovative Water Technologies: Middlesex Water is involved in developing and implementing new technologies aimed at improving water treatment processes and system efficiency. This includes advanced filtration systems and smart water management technologies.
- Sustainable Water Solutions: There is a focus on sustainability initiatives, which can include water conservation programs, stormwater management solutions, and education on water-use efficiency.
C. Diversified Water Supply Services
- Bulk Water Supply: The company may engage in the supply of bulk water for various uses, including construction activities and other temporary needs for large volumes of water.
- Partnerships and Joint Ventures: In this segment, Middlesex Water seeks to engage in partnerships and joint ventures that provide additional revenue streams or enhance service offerings.
Conclusion
Middlesex Water Company operates effectively within these two segments, adhering to high standards of service and regulatory compliance. The Regulated segment plays a crucial role in ensuring the delivery of necessary water and wastewater services to communities, while the Non-Regulated segment offers an opportunity for innovation and revenue diversity. Together, these segments represent the companys commitment to providing comprehensive water utility services while adapting to emerging needs and opportunities in the marketplace.
1. Regulated Segment
The Regulated segment is the backbone of Middlesex Water Company’s operations, contributing a significant majority of the company’s total revenues (approximately 88%) and net income (around 93%). This segment includes the following key areas:
A. Water Utility Services
- Water Supply and Distribution: Middlesex Water provides potable drinking water to its residential and commercial customers. The water is sourced from wells and reservoirs, treated to meet regulatory standards, and then distributed through an extensive network of pipelines.
- Water Quality Testing: The company conducts regular testing to ensure the water meets all safety and quality standards set forth by regulatory authorities. This includes monitoring for contaminants, chemical levels, and biological safety.
B. Wastewater Utility Services
- Sewage Treatment: Middlesex Water operates sewage treatment facilities that process wastewater from residential, commercial, and industrial sources. This service is crucial for environmental protection and public health.
- Sewer Maintenance: The company is also responsible for the maintenance and operation of sewer systems, ensuring that they are functioning effectively and efficiently to prevent blockages and backups.
C. Infrastructure Management
- Capital Projects: Investment in the upgrading and expansion of water and wastewater infrastructure is a significant aspect of the regulated segment. This includes pipeline replacement, facility upgrades, and technologies to improve efficiency.
- Emergency Response: Middlesex Water has protocols in place for addressing emergencies, including main breaks and contamination incidents, ensuring minimal disruption to service and the safety of the community.
D. Regulatory Compliance
- Rate Setting: As a regulated utility, Middlesex Water operates under the guidelines set by state regulatory bodies, which oversee rate structures, service standards, and operational aspects of the utility.
- Environmental Regulations: Compliance with environmental laws and regulations is critical. The company proactively engages in practices that meet or exceed required standards for water treatment and wastewater management.
Non-Regulated Segment
The Non-Regulated segment, while contributing a smaller portion of total revenue compared to the regulated activities, is essential for diversifying the companys operations and increasing overall revenue potential. This segment includes:
A. Contracted Services
- Third-Party Water Testing and Analysis: Middlesex Water offers analytical services to municipalities, industries, and private clients, providing water testing and analysis to ensure compliance with health and environmental standards.
- Consulting Services: The company provides expert consulting to water utilities and municipalities on efficiency improvements, compliance, infrastructure development, and project management.
B. Water Solutions and Technologies
- Innovative Water Technologies: Middlesex Water is involved in developing and implementing new technologies aimed at improving water treatment processes and system efficiency. This includes advanced filtration systems and smart water management technologies.
- Sustainable Water Solutions: There is a focus on sustainability initiatives, which can include water conservation programs, stormwater management solutions, and education on water-use efficiency.
C. Diversified Water Supply Services
- Bulk Water Supply: The company may engage in the supply of bulk water for various uses, including construction activities and other temporary needs for large volumes of water.
- Partnerships and Joint Ventures: In this segment, Middlesex Water seeks to engage in partnerships and joint ventures that provide additional revenue streams or enhance service offerings.
Conclusion
Middlesex Water Company operates effectively within these two segments, adhering to high standards of service and regulatory compliance. The Regulated segment plays a crucial role in ensuring the delivery of necessary water and wastewater services to communities, while the Non-Regulated segment offers an opportunity for innovation and revenue diversity. Together, these segments represent the companys commitment to providing comprehensive water utility services while adapting to emerging needs and opportunities in the marketplace.