Artesian Resources Corporation (ARTNA) is a leading provider of water and wastewater services on the Delmarva Peninsula, with a legacy of delivering high-quality utility services that dates back to 1905. Headquartered in Newark, Delaware, Artesian has grown into a trusted name in the utility sector, serving residential, commercial, and industrial customers across Delaware, Maryland, and Pennsylvania. As the parent company of Artesian Water Company, the oldest and largest regulated water utility on the Delmarva Peninsula, Artesian plays a pivotal role in ensuring access to safe, reliable, and sustainable water services for its communities.
What sets Artesian Resources apart is its steadfast commitment to customer satisfaction, environmental stewardship, and regulatory compliance. The company provides over 8.8 billion gallons of water annually through a sophisticated network of 1,470 miles of water main infrastructure. Its comprehensive suite of services includes water supply and distribution, wastewater management, and non-utility offerings such as service line protection plans. By addressing the diverse needs of its customers and maintaining a focus on operational excellence, Artesian has built a strong foundation for long-term success.
Over the decades, Artesian has consistently invested in modernizing its infrastructure and expanding its services to meet the evolving needs of its customer base. These strategic initiatives have positioned the company as a forward-thinking leader in the utility industry. From constructing advanced wastewater treatment facilities to addressing emerging environmental concerns like PFAS contamination and lead service lines, Artesian is at the forefront of industry innovation. This proactive approach ensures not only compliance with federal and state regulations but also the delivery of safe and high-quality services to its customers.
Artesian’s commitment to sustainability and resource conservation is another hallmark of its operations. The company employs advanced technologies and best practices to minimize water waste, improve efficiency, and reduce environmental impact. By aligning its business objectives with sustainable development goals, Artesian underscores its role as a responsible corporate citizen and an advocate for the environment.
Financially, Artesian Resources has demonstrated remarkable stability and growth. As a publicly traded company on the NASDAQ, it has consistently delivered value to its shareholders through steady revenue growth, strategic investments, and a strong commitment to dividend payments. The company’s 29 consecutive years of dividend increases underscore its dedication to returning value to its investors while maintaining financial health.
With over a century of service excellence, Artesian Resources Corporation remains a cornerstone of the communities it serves. Its rich history, coupled with its forward-looking vision and unwavering commitment to quality, positions Artesian as a reliable and innovative leader in the water and wastewater utilities sector. For those seeking a partner or investment in a company that balances tradition with innovation, Artesian Resources Corporation is a name that stands out in the utility industry.
Exceptional Financial Performance in 2024
In the third quarter of 2024, Artesian demonstrated its operational strength, reporting net income of $6.8 million—a remarkable 34.4% increase compared to the same period in 2023. Revenues for the quarter reached $29.1 million, a 9.7% year-over-year increase. These results were largely fueled by a temporary rate increase implemented in late 2023, subsequently replaced by final approved rates authorized by the Delaware Public Service Commission (DEPSC) in mid-2024. This adjustment, coupled with increased customer consumption due to drier weather conditions and a growing customer base, propelled water sales revenue up by 11.3%.
Year-to-date results for 2024 further underscore Artesian’s resilience and growth potential. The company posted $16.5 million in net income for the first nine months, a 25.2% increase compared to 2023. Revenues for the period totaled $81.1 million, reflecting a 9.1% growth. These figures illustrate Artesian’s ability to effectively navigate inflationary pressures and regulatory challenges while maintaining profitability.

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Strategic Growth in Customer Base and Infrastructure
A cornerstone of Artesian’s success lies in its relentless focus on expanding its customer base and modernizing its infrastructure. In 2024, the company invested $30.9 million in water and wastewater infrastructure projects. These initiatives included the construction of a new wastewater treatment plant, upgrades to pumping stations, and the rehabilitation of aging infrastructure. Such investments not only enhance service reliability but also position the company to meet future regulatory requirements, such as the Environmental Protection Agency’s (EPA) lead service line regulations.
Artesian has also shown a proactive approach to addressing critical water quality issues, including PFAS contamination and lead in water service lines. These efforts underscore the company’s commitment to safeguarding public health and maintaining customer trust.
Diversified Revenue Streams and Operational Efficiency
Artesian’s revenue growth in 2024 was bolstered by increases in water sales and other utility operating revenues. Non-utility revenues, including service line protection plans, also contributed to the company’s financial stability. By diversifying its income streams, Artesian has reduced its reliance on a single revenue source, ensuring resilience in varying market conditions.
Operating expenses, excluding depreciation and income taxes, rose modestly by 4.9% year-to-date, reflecting prudent cost management despite inflationary pressures. The company’s efficiency in managing supply, treatment, and administrative costs further highlights its operational acumen.
Commitment to Shareholder Value
As a Dividend Champion with 29 consecutive years of dividend increases, Artesian remains committed to delivering value to its shareholders. The company’s robust financial performance and steady revenue growth have enabled consistent dividend payouts, underscoring its financial stability and shareholder-centric approach. Artesian’s ability to balance infrastructure investments with shareholder returns is a testament to its disciplined financial management.
Navigating Regulatory and Environmental Challenges
Artesian’s leadership in the utility sector is also reflected in its proactive approach to regulatory and environmental challenges. The company’s efforts to comply with EPA regulations on lead service lines and address PFAS contamination demonstrate a commitment to meeting evolving regulatory standards while maintaining service quality.
CEO Dian C. Taylor expressed confidence in the company’s future, citing its ability to adapt to stringent regulatory requirements and inflationary pressures. Artesian’s strategic focus on long-term sustainability and customer satisfaction positions it well for continued growth.
A Bright Future for Artesian Resources Corporation
With total revenues climbing, infrastructure investments accelerating, and customer satisfaction remaining high, Artesian Resources Corporation is poised for sustained growth. The company’s ability to adapt to changing economic and regulatory landscapes, coupled with its focus on innovation and efficiency, ensures its position as a leading water utility provider.
As Artesian continues to expand its customer base and invest in cutting-edge infrastructure, the future looks bright for this resilient company. For investors seeking a stable and growth-oriented opportunity in the water utilities sector, Artesian Resources Corporation remains a compelling choice.
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