Artesian Resources Corporation (ARTNA)

Name: Artesian Resources Corporation Financial Statements
Creator: Quarter Results

Utilities | Regulated Water

Latest reporting period: 2025-03-31

Latest Quarter

2025-03-31

Revenue

$25.9M

Net Income

$5.4M

Operating Margin

21.4%

Free Cash Flow

-$18.5M

Debt / Assets

70.6%

Values are in USD and rounded to the nearest whole number unless noted.

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Income statement quarterly history for Artesian Resources Corporation (ARTNA).
Income Statement (Quarterly)	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Revenue	25,886,000	26,850,000	29,142,000	27,416,000
Cost of Revenue	13,446,000	14,804,000	13,338,000	13,324,000
Gross Profit	12,440,000	12,046,000	15,804,000	14,092,000
Operating Expenses
R&D Expenses	0	0	0	0
SG&A Expenses	0	0	0	0
Operating Expenses	6,894,000	6,403,000	7,214,000	6,894,000
Operating Income	5,546,000	5,643,000	8,590,000	7,198,000
Interest Expense	2,166,000	2,244,000	2,193,000	2,175,000
Income Before Tax	7,286,000	5,178,000	9,168,000	7,270,000
Income Tax Expense	1,851,000	1,333,000	2,355,000	1,945,000
Net Income	5,435,000	3,845,000	6,813,000	5,325,000
Per Share
EPS	0.53	0.37	0.66	0.52
EPS Diluted	0.00	0.00	0.00	0.00

Income statement annual history for Artesian Resources Corporation (ARTNA).
Income Statement (Annual)	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Revenue	112,941,000	107,952,000	98,861,000	98,897,000	90,859,000
Cost of Revenue	70,932,000	54,539,000	50,633,000	50,622,000	45,356,000
Gross Profit	42,009,000	53,413,000	48,228,000	48,275,000	45,503,000
Operating Expenses
R&D Expenses	0	0	0	0	0
SG&A Expenses	0	0	0	0	0
Operating Expenses	6,396,000	27,262,000	25,782,000	18,491,000	17,472,000
Operating Income	35,613,000	26,151,000	22,446,000	23,906,000	22,294,000
Interest Expense	8,686,000	8,779,000	9,156,000	8,502,000	7,592,000
Income Before Tax	30,653,000	27,709,000	23,047,000	23,876,000	22,564,000
Income Tax Expense	7,831,000	7,315,000	6,348,000	5,878,000	5,737,000
Net Income	22,822,000	20,394,000	16,699,000	17,998,000	16,827,000
Per Share
EPS	2.21	1.98	1.67	1.90	1.79
EPS Diluted	0.00	0.00	0.00	0.00	0.00

Balance sheet quarterly history for Artesian Resources Corporation (ARTNA).
Balance Sheet (Quarterly)	2025-12-31	2024-12-31	2023-12-31	2022-12-31
Assets
Cash and Cash Equivalents	52,000	1,147,000	2,505,000	1,309,000
Short Term Investments	0	0	0	0
Net Receivables	0	13,824,000	16,563,000	16,729,000
Inventory	0	4,278,000	5,983,000	4,702,000
Total Current Assets	21,417,000	24,528,000	30,617,000	27,804,000
Property Plant Equipment	801,694,000	751,203,000	718,483,000	672,238,000
Goodwill and Intangibles	1,939,000	1,939,000	1,939,000	1,939,000
Total Assets	851,229,000	798,623,000	767,150,000	719,791,000
Liabilities
Account Payables	0	11,228,000	9,697,000	10,929,000
Short Term Debt	2,132,000	2,206,000	2,262,000	22,177,000
Total Current Liabilities	33,722,000	25,593,000	22,414,000	44,069,000
Long Term Debt	407,000	176,913,000	178,810,000	176,085,000
Total Liabilities	601,307,000	559,434,000	536,753,000	531,860,000
Shareholders Equity
Retained Earnings	95,114,000	84,969,000	76,743,000	71,286,000
Total Shareholders Equity	249,922,000	239,189,000	230,397,000	187,931,000

Balance sheet annual history for Artesian Resources Corporation (ARTNA).
Balance Sheet (Annual)	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Assets
Cash and Cash Equivalents	52,000	1,147,000	2,505,000	1,309,000	92,000
Short Term Investments	0	0	0	0	0
Net Receivables	0	13,824,000	16,563,000	16,729,000	12,177,000
Inventory	0	4,278,000	5,983,000	4,702,000	1,933,000
Total Current Assets	21,417,000	24,528,000	30,617,000	27,804,000	19,160,000
Property Plant Equipment	801,694,000	751,203,000	718,483,000	672,238,000	594,633,000
Goodwill and Intangibles	1,939,000	1,939,000	1,939,000	1,939,000	0
Total Assets	851,229,000	798,623,000	767,150,000	719,791,000	625,211,000
Liabilities
Account Payables	0	11,228,000	9,697,000	10,929,000	10,206,000
Short Term Debt	2,132,000	2,206,000	2,262,000	22,177,000	28,294,000
Total Current Liabilities	33,722,000	25,593,000	22,414,000	44,069,000	47,702,000
Long Term Debt	407,000	176,913,000	178,810,000	176,085,000	143,699,000
Total Liabilities	601,307,000	559,434,000	536,753,000	531,860,000	447,201,000
Shareholders Equity
Retained Earnings	95,114,000	84,969,000	76,743,000	71,286,000	63,607,000
Total Shareholders Equity	249,922,000	239,189,000	230,397,000	187,931,000	178,010,000

Cash flow quarterly history for Artesian Resources Corporation (ARTNA).
Cash Flow Statement (Quarterly)	2025-12-31	2024-12-31	2023-12-31	2022-12-31
Operating Activities
Net Income	22,822,000	20,394,000	16,699,000	17,998,000
Depreciation & Amortization	13,806,000	13,629,000	13,335,000	12,620,000
Stock Based Compensation	246,000	219,000	254,000	152,000
Change in Working Capital	3,442,000	2,566,000	-1,454,000	-7,893,000
Operating Cash Flow	40,346,000	36,823,000	31,851,000	24,265,000
Investing Activities
Capital Expenditure	-58,845,000	-45,942,000	-62,177,000	-48,483,000
Investments	-58,845,000	-45,942,000	-62,177,000	-48,483,000
Investing Cash Flow	-58,716,000	-45,319,000	-62,078,000	-54,759,000
Financing Activities
Debt Repayment	3,523,000	-1,477,000	-16,610,000	-8,172,000
Common Stock Issued/Repurchased	342,000	347,000	37,073,000	2,090,000
Dividends Paid	-12,677,000	-12,168,000	-11,242,000	-10,319,000
Financing Cash Flow	17,275,000	7,138,000	31,423,000	31,711,000
Summary
Free Cash Flow	-18,499,000	-9,119,000	-30,326,000	-24,218,000
Net Change in Cash	-1,095,000	-1,358,000	1,196,000	1,217,000

Cash flow annual history for Artesian Resources Corporation (ARTNA).
Cash Flow Statement (Annual)	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Operating Activities
Net Income	22,822,000	20,394,000	16,699,000	17,998,000	16,827,000
Depreciation & Amortization	13,806,000	13,629,000	13,335,000	12,620,000	11,885,000
Stock Based Compensation	246,000	219,000	254,000	152,000	193,000
Change in Working Capital	3,442,000	2,566,000	-1,454,000	-7,893,000	158,000
Operating Cash Flow	40,346,000	36,823,000	31,851,000	24,265,000	31,310,000
Investing Activities
Capital Expenditure	-58,845,000	-45,942,000	-62,177,000	-48,483,000	-40,814,000
Investments	-58,845,000	-45,942,000	-62,177,000	-48,483,000	0
Investing Cash Flow	-58,716,000	-45,319,000	-62,078,000	-54,759,000	-40,724,000
Financing Activities
Debt Repayment	3,523,000	-1,477,000	-16,610,000	-8,172,000	-1,935,000
Common Stock Issued/Repurchased	342,000	347,000	37,073,000	2,090,000	1,390,000
Dividends Paid	-12,677,000	-12,168,000	-11,242,000	-10,319,000	-9,826,000
Financing Cash Flow	17,275,000	7,138,000	31,423,000	31,711,000	9,478,000
Summary
Free Cash Flow	-18,499,000	-9,119,000	-30,326,000	-24,218,000	-9,504,000
Net Change in Cash	-1,095,000	-1,358,000	1,196,000	1,217,000	64,000