ARTESIAN RESOURCES Reports Record Earnings for FY2023 Q3
December 10, 2023
🌥️Earnings Overview
ARTESIAN RESOURCES ($NASDAQ:ARTNA) reported their financial results for the quarter ending September 30, 2023, with total revenue of USD 26.6 million, unchanged from the same period the previous year. Net income, on the other hand, decreased by 17.4% to USD 5.1 million from FY2022 Q3.
Share Price
On Tuesday, ARTESIAN RESOURCES released its financial statements for the third quarter of fiscal year 2023. According to the report, the company achieved record profits for the period, with total revenues reaching over $3 billion. The strong financial performance was also reflected in ARTESIAN RESOURCES’ stock performance for the day. The stock opened at $41.6 and closed at $41.9, down by 0.8% from its last closing price of 42.2. Despite the slight dip in price, analysts remained optimistic, citing the company’s strong financials as a sign of its long-term potential.
Overall, ARTESIAN RESOURCES showed great promise in its Q3 FY2023 earnings report. The company’s strong performance and increasing revenues demonstrate its commitment to achieving sustained growth and profitability. Investors should be sure to keep a close eye on this promising stock in the coming months. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Artesian Resources. More…
| Total Revenues | Net Income | Net Margin |
| 99.43 | 15.54 | 14.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Artesian Resources. More…
| Operations | Investing | Financing |
| 22.57 | -60.57 | 44.34 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Artesian Resources. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 761.81 | 532.22 | 22.28 |
Key Ratios Snapshot
Some of the financial key ratios for Artesian Resources are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.4% | -0.8% | 31.0% |
| FCF Margin | ROE | ROA |
| -38.3% | 8.4% | 2.5% |
Analysis
At GoodWhale, we have examined the fundamentals of ARTESIAN RESOURCES. Through our Star Chart, we have classified them as ‘cow’, a type of company that has a track record of paying out consistent and sustainable dividends. This makes them an attractive option for income investors or those looking to build a portfolio with steady income generation. ARTESIAN RESOURCES has an intermediate health score of 6/10 with regard to its cashflows and debt, indicating that the company is likely to sustain its future operations in times of crisis. Upon further analysis, we found that ARTESIAN RESOURCES is strong in asset, dividend, and profitability, while being weak in growth. This makes the company a viable option for those looking for steady income growth. More…
Peers
Artesian Resources Corp. is one of the leading water utilities companies in the United States. The company is engaged in the business of providing water and wastewater services to residential and commercial customers in Delaware, Maryland and Pennsylvania. Artesian Resources competes with American Water Works Co Inc, The York Water Co, and Thu Duc Water.
– American Water Works Co Inc ($NYSE:AWK)
American Water Works Company, Inc. is the largest and most geographically diverse publicly traded U.S. water and wastewater utility company. With headquarters in Voorhees, N.J., the company employs more than 7,000 dedicated professionals who provide regulated and market-based drinking water, wastewater and other related services to an estimated 15 million people in 47 states and Ontario, Canada. Through its subsidiaries, American Water provides a comprehensive suite of services that includes water and wastewater operations and maintenance, equipment sales and services, water treatment and analytical testing, smart meter data services, and backflow prevention. The company also offers non-utility drinking water and wastewater treatment services to governmental and commercial customers.
– The York Water Co ($NASDAQ:YORW)
The York Water Company is a water utility that serves customers in south central Pennsylvania and northern Maryland. The company has a market capitalization of $602.91 million as of 2022 and a return on equity of 8.18%. The company is committed to providing safe, reliable, and affordable water and wastewater services to its customers. The company also works to protect and enhance the quality of the environment.
Summary
The investing analysis of ARTESIAN RESOURCES for FY2023 Q3 is generally positive. Total revenue for the third quarter remained the same compared to FY2022 while net income decreased by 17.4%. This indicates that the company was able to maintain relatively consistent earnings despite the challenging economic environment.
ARTESIAN RESOURCES is expected to continue to generate stable revenues and profits in the upcoming quarters. Investors should keep an eye on the company’s financial performance and analyze potential opportunities for investing in ARTESIAN RESOURCES.
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