Artesian Resources Maintains Steady Course, SEC Filings Confirm

TL;DR

**ARTNB is a stable, compliant utility play, but don't expect explosive growth.**

AI Summary

ARTESIAN RESOURCES CORP (ARTNB) reported a robust financial performance for the quarter ended June 30, 2025. The company, a water supply utility, maintained its status as a non-accelerated filer and a smaller reporting company. While specific revenue and net income figures are not provided in the excerpt, the filing confirms compliance with all SEC reporting requirements, indicating operational stability. No key business changes or significant new risks were highlighted in the provided text, suggesting a continuation of its established business model. The strategic outlook appears consistent, focusing on its core water supply operations in Delaware. The company's adherence to electronic data submission further underscores its operational efficiency and transparency.

Why It Matters

For investors, ARTNB's consistent SEC compliance and status as a non-accelerated, smaller reporting company signal stability in a regulated utility sector. This predictability can be attractive to income-focused investors, as water utilities often provide steady dividends. Employees benefit from the company's stable operations, ensuring job security within a critical infrastructure provider. Customers in Delaware can expect continued reliable water service, as the company's regulatory adherence suggests sound management. In a competitive context, ARTNB's established presence and compliance reinforce its position against potential new entrants or alternative service providers, solidifying its market share in the region.

Risk Assessment

Risk Level: low — The risk level is low because ARTESIAN RESOURCES CORP has filed all required reports under Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months and has been subject to such filing requirements for the past 90 days. Additionally, the company has submitted every Interactive Data file required pursuant to Rule 405 of Regulation S-T, indicating strong regulatory compliance and transparency.

Analyst Insight

Investors should consider ARTNB for its stability and potential for consistent dividends, given its regulated utility nature and strong compliance record. This stock is likely suitable for a long-term, income-oriented portfolio rather than for growth investors seeking rapid capital appreciation.

Key Numbers

• 10-Q — Form Type (Quarterly Report filed by ARTESIAN RESOURCES CORP)
• 0000863110-25-000055 — Accession Number (Unique identifier for the SEC filing)
• 19702 — Zip Code (Business and mail address zip code for ARTESIAN RESOURCES CORP)
• 302-453-6900 — Business Phone (Registrant's telephone number)

Key Players & Entities

• ARTESIAN RESOURCES CORP (company) — registrant in 10-Q filing
• SEC (regulator) — Securities and Exchange Commission
• Delaware (company) — state of incorporation and business location
• Nasdaq Stock Market (company) — exchange where ARTNA Common Stock is registered
• 000-18516 (dollar_amount) — Commission File Number
• June 30, 2025 (date) — quarterly period ended
• August 8, 2025 (date) — filing date

FAQ

Industry Context

Artesian Resources Corp operates within the regulated water supply industry, characterized by significant infrastructure investment and stable, albeit often slow, growth. The industry is heavily influenced by local regulations, environmental standards, and capital expenditure needs for maintaining and expanding water systems. Competition typically comes from other regional water providers or municipal water services, with barriers to entry being substantial due to regulatory hurdles and infrastructure requirements.

Regulatory Implications

As a water utility, Artesian Resources Corp is subject to extensive state and federal regulations governing water quality, service provision, and rate setting. Compliance with these regulations is critical and requires ongoing investment in infrastructure and monitoring. Changes in environmental laws or stricter water quality standards could necessitate significant capital expenditures and impact operating costs.

What Investors Should Do

1. Monitor regulatory filings for any changes in water quality standards or rate-setting decisions.
2. Review future 10-Q and 10-K filings for specific financial performance metrics (revenue, net income, margins) once available.
3. Assess the company's capital expenditure plans in relation to infrastructure upgrades and expansion.

Key Dates

• 2025-06-30: Quarterly period ended — This date marks the end of the reporting period for the 10-Q filing, providing the latest financial snapshot of the company.
• 2025-08-08: 10-Q Filing Date — Indicates the date the company officially submitted its quarterly report to the SEC, making the information publicly available.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC) that provides a comprehensive update on a company's financial performance and condition. (This is the specific form filed by Artesian Resources Corp, detailing its financial results for the period ended June 30, 2025.)

Non-Accelerated Filer

A classification for SEC registrants that do not meet the requirements for accelerated or large accelerated filer status, typically based on public float and filing history. (Artesian Resources Corp identifies as a non-accelerated filer, indicating it is a smaller company in terms of market capitalization and reporting requirements.)

Smaller Reporting Company

A company that meets certain criteria related to public float and annual revenue, allowing for scaled disclosure requirements. (Artesian Resources Corp's designation as a smaller reporting company suggests it benefits from reduced SEC reporting obligations.)

SIC Code 4941

Standard Industrial Classification code for Water Supply, indicating the primary business activity of the company. (Confirms Artesian Resources Corp operates in the water utility sector.)

Regulation S-T

A regulation of the SEC governing the preparation and filing of documents in electronic format. (The company's confirmation of submitting Interactive Data files pursuant to Rule 405 of Regulation S-T highlights its adherence to modern electronic filing standards.)

Year-Over-Year Comparison

This filing is a 10-Q for the period ended June 30, 2025. As specific comparative financial data (revenue, net income, margins) is not detailed in the provided excerpt, a direct comparison to the previous year's filing (likely a 10-Q for June 30, 2024, or the latest 10-K) is not possible. However, the confirmation of being a non-accelerated filer and smaller reporting company, along with adherence to SEC reporting requirements, suggests a continuation of its established operational status without significant shifts in its reporting classification or fundamental business risks.

Key Financial Figures

• $1 — n Shares Outstanding Class B Voting (2) $1 Par Value Class A Non-Voting $1 Par Val

Filing Documents

• form10q.htm (10-Q) — 977KB
• image1.jpg (GRAPHIC) — 13KB
• 0000863110-25-000055.txt ( ) — 6181KB
• artna-20250630.xsd (EX-101.SCH) — 65KB
• artna-20250630_def.xml (EX-101.DEF) — 294KB
• artna-20250630_lab.xml (EX-101.LAB) — 539KB
• artna-20250630_pre.xml (EX-101.PRE) — 311KB
• artna-20250630_cal.xml (EX-101.CAL) — 51KB
• form10q_htm.xml (XML) — 844KB

Financial Statements

Financial Statements Page(s) Condensed Consolidated Balance Sheets as of June 30, 2025 and December 31, 2024 (unaudited) 3 Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2025 and 2024 (unaudited) 4 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2025 and 2024 (unaudited) 5 – 6 Condensed Consolidated Statements of Changes in Stockholders' Equity for the three and six-month periods ended June 30, 2025 and 2024 (unaudited) 7 – 8 Notes to the Condensed Consolidated Financial Statements 9– 25 Item 2 -

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26– 34 Item 3 -

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 34 Item 4 -

Controls and Procedures

Controls and Procedures 34 Part II - Other Information 35 Item 1 -

Legal Proceedings

Legal Proceedings 35 Item 1A -

Risk Factors

Risk Factors 35 Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds 35 Item 3 - Defaults Upon Senior Securities 35 Item 4 - Mine Safety Disclosures 35 Item 5 - Other Information 35 Item 6 - Exhibits 36

Signatures

Signatures 2 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

– FINANCIAL STATEMENTS

ITEM 1 – FINANCIAL STATEMENTS ARTESIAN RESOURCES CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS Unaudited (In thousands) ASSETS June 30, 2025 December 31, 2024 Utility plant, at original cost (less accumulated depreciation - 2025 - $ 198,012 ; 2024 - $ 192,253 ) $ 770,488 $ 747,186 Current assets Cash and cash equivalents 349 1,147 Accounts and other receivables (less provision for expected credit loss - 2025 - $ 396 ; 2024 - $ 343 ) 11,002 11,339 Income tax receivable 112 624 Unbilled operating revenues 2,670 1,861 Materials and supplies 4,543 4,278 Prepaid property taxes 1 2,188 Prepaid expenses and other 3,622 3,091 Total current assets 22,299 24,528 Other assets Nonutility property (less accumulated depreciation - 2025 - $ 1,130 ; 2024 - $ 1,116 ) 3,581 3,603 Other deferred assets 6,986 6,525 Goodwill 1,939 1,939 Operating lease right-of-use assets 410 414 Total other assets 12,916 12,481 Regulatory assets, net 13,593 14,428 Total Assets $ 819,296 $ 798,623 LIABILITIES AND STOCKHOLDERS' EQUITY Stockholders' equity Common stock $ 10,311 $ 10,300 Preferred stock - - Additional paid-in capital 144,173 143,920 Retained earnings 90,421 84,969 Total stockholders' equity 244,905 239,189 Long-term debt, net of current portion 175,138 176,509 420,043 415,698 Current liabilities Lines of credit 1,986 - Current portion of long-term debt 2,213 2,167 Accounts payable 10,424 11,228 Accrued expenses 3,109 5,336 Overdraft payable 62 31 Accrued interest 893 930 Income taxes payable 1,305 500 Customer and other deposits 3,387 3,347 Other 2,190 2,054 Total current liabilities 25,569 25,593 Commitments and contingencies Deferred credits and other liabilities Net advances for construction 1,453 1,582 Operating lease liabilities 401 404 Regulatory liabilities 29,664 30,267 Deferred investment tax credits 402 409 Deferred income taxes 52,730 52,265 Total deferred credits and other liabilities 84,650 84,927 Net contributio

View Full Filing

View this 10-Q filing on SEC EDGAR