Artesian Resources Corp
NASDAQ:ARTNA
Income Statement
Earnings Waterfall
Artesian Resources Corp
Income Statement
Artesian Resources Corp
| Dec-2001 | Mar-2002 | Jun-2002 | Sep-2002 | Dec-2002 | Mar-2003 | Jun-2003 | Sep-2003 | Dec-2003 | Mar-2004 | Jun-2004 | Sep-2004 | Dec-2004 | Mar-2005 | Jun-2005 | Sep-2005 | Dec-2005 | Mar-2006 | Jun-2006 | Sep-2006 | Dec-2006 | Mar-2007 | Jun-2007 | Sep-2007 | Dec-2007 | Mar-2008 | Jun-2008 | Sep-2008 | Dec-2008 | Mar-2009 | Jun-2009 | Sep-2009 | Dec-2009 | Mar-2010 | Jun-2010 | Sep-2010 | Dec-2010 | Mar-2011 | Jun-2011 | Sep-2011 | Dec-2011 | Mar-2012 | Jun-2012 | Sep-2012 | Dec-2012 | Mar-2013 | Jun-2013 | Sep-2013 | Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | Dec-2024 | Mar-2025 | Jun-2025 | Sep-2025 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Expense |
5
|
5
|
5
|
4
|
4
|
4
|
5
|
5
|
5
|
5
|
5
|
6
|
6
|
6
|
6
|
6
|
6
|
6
|
6
|
6
|
6
|
6
|
7
|
6
|
6
|
6
|
6
|
6
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
7
|
6
|
6
|
6
|
6
|
6
|
6
|
6
|
6
|
6
|
7
|
7
|
7
|
7
|
7
|
7
|
8
|
8
|
8
|
8
|
8
|
8
|
8
|
8
|
9
|
9
|
9
|
9
|
9
|
9
|
9
|
9
|
9
|
9
|
9
|
9
|
|
| Revenue |
32
N/A
|
33
+2%
|
33
+2%
|
34
+2%
|
35
+2%
|
35
+2%
|
36
+2%
|
36
-1%
|
36
+1%
|
37
+1%
|
37
+1%
|
38
+4%
|
40
+3%
|
41
+3%
|
42
+4%
|
44
+4%
|
45
+3%
|
46
+1%
|
46
+1%
|
48
+4%
|
49
+1%
|
50
+2%
|
51
+2%
|
51
+2%
|
53
+2%
|
53
+1%
|
54
+2%
|
55
+1%
|
56
+3%
|
58
+3%
|
59
+3%
|
60
+1%
|
61
+2%
|
62
+2%
|
63
+1%
|
64
+3%
|
65
+1%
|
65
0%
|
65
+1%
|
65
0%
|
65
+0%
|
67
+3%
|
68
+2%
|
70
+2%
|
71
+1%
|
70
-1%
|
70
0%
|
69
-1%
|
69
0%
|
70
+1%
|
70
+0%
|
71
+2%
|
72
+2%
|
74
+1%
|
75
+2%
|
76
+2%
|
77
+1%
|
78
+1%
|
77
0%
|
78
+1%
|
79
+1%
|
80
+1%
|
81
+1%
|
81
+1%
|
82
+1%
|
82
0%
|
82
0%
|
81
-1%
|
80
-1%
|
81
+1%
|
81
+1%
|
82
+1%
|
84
+2%
|
84
+1%
|
85
+1%
|
87
+3%
|
88
+1%
|
89
+1%
|
90
+1%
|
90
+0%
|
91
+1%
|
92
+2%
|
95
+3%
|
96
+2%
|
99
+3%
|
99
+0%
|
99
+0%
|
99
0%
|
99
-1%
|
101
+2%
|
103
+2%
|
106
+2%
|
108
+2%
|
109
+1%
|
110
+1%
|
112
+1%
|
|
| Operating Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Expenses |
(22)
|
(23)
|
(23)
|
(24)
|
(24)
|
(24)
|
(24)
|
(24)
|
(25)
|
(26)
|
(26)
|
(27)
|
(27)
|
(28)
|
(29)
|
(30)
|
(31)
|
(32)
|
(32)
|
(32)
|
(33)
|
(34)
|
(35)
|
(35)
|
(37)
|
(38)
|
(39)
|
(39)
|
(40)
|
(40)
|
(41)
|
(42)
|
(42)
|
(44)
|
(44)
|
(45)
|
(46)
|
(46)
|
(47)
|
(47)
|
(47)
|
(46)
|
(46)
|
(47)
|
(48)
|
(49)
|
(49)
|
(49)
|
(49)
|
(49)
|
(50)
|
(50)
|
(50)
|
(50)
|
(50)
|
(51)
|
(52)
|
(52)
|
(52)
|
(53)
|
(52)
|
(52)
|
(53)
|
(54)
|
(55)
|
(56)
|
(56)
|
(56)
|
(56)
|
(57)
|
(57)
|
(58)
|
(58)
|
(59)
|
(59)
|
(59)
|
(60)
|
(61)
|
(62)
|
(62)
|
(63)
|
(64)
|
(65)
|
(66)
|
(69)
|
(70)
|
(71)
|
(72)
|
(70)
|
(71)
|
(72)
|
(72)
|
(74)
|
(75)
|
(75)
|
(76)
|
|
| Depreciation & Amortization |
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(5)
|
(4)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(6)
|
(6)
|
(6)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(10)
|
(10)
|
(10)
|
(10)
|
(10)
|
(10)
|
(11)
|
(11)
|
(11)
|
(11)
|
(11)
|
(11)
|
(11)
|
(11)
|
(12)
|
(12)
|
(12)
|
(12)
|
(12)
|
(12)
|
(13)
|
(13)
|
(13)
|
(13)
|
(13)
|
(14)
|
(14)
|
(14)
|
(14)
|
(14)
|
(14)
|
(14)
|
|
| Operations Maintenance |
(18)
|
(18)
|
(18)
|
(19)
|
(18)
|
(18)
|
(18)
|
(19)
|
(19)
|
(20)
|
(20)
|
(20)
|
(20)
|
(21)
|
(21)
|
(22)
|
(22)
|
(23)
|
(23)
|
(24)
|
(24)
|
(25)
|
(26)
|
(26)
|
(27)
|
(27)
|
(28)
|
(28)
|
(28)
|
(28)
|
(28)
|
(28)
|
(29)
|
(30)
|
(30)
|
(30)
|
(31)
|
(32)
|
(32)
|
(33)
|
(32)
|
(32)
|
(32)
|
(33)
|
(34)
|
(35)
|
(35)
|
(34)
|
(35)
|
(34)
|
(35)
|
(35)
|
(35)
|
(35)
|
(34)
|
(35)
|
(36)
|
(36)
|
(36)
|
(37)
|
(36)
|
(36)
|
(37)
|
(38)
|
(38)
|
(38)
|
(38)
|
(38)
|
(38)
|
(38)
|
(39)
|
(39)
|
(39)
|
(39)
|
(39)
|
(40)
|
(40)
|
(41)
|
(41)
|
(41)
|
(41)
|
(42)
|
(43)
|
(42)
|
(44)
|
(45)
|
(46)
|
(47)
|
(46)
|
(47)
|
(47)
|
(48)
|
(50)
|
(50)
|
(50)
|
(52)
|
|
| Other Operating Expenses |
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(3)
|
(3)
|
(3)
|
(3)
|
(4)
|
(4)
|
(5)
|
(5)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(6)
|
(6)
|
(6)
|
(7)
|
(7)
|
(7)
|
(8)
|
(8)
|
(8)
|
(8)
|
(7)
|
(7)
|
(7)
|
(7)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(7)
|
(7)
|
(6)
|
(6)
|
(6)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(10)
|
(10)
|
(11)
|
(11)
|
(13)
|
(13)
|
(12)
|
(12)
|
(11)
|
(11)
|
(11)
|
(11)
|
(11)
|
(11)
|
(11)
|
(11)
|
|
| Operating Income |
10
N/A
|
10
+5%
|
10
+0%
|
10
+1%
|
11
+8%
|
11
+4%
|
12
+6%
|
11
-6%
|
11
-5%
|
11
-1%
|
11
-2%
|
12
+10%
|
13
+9%
|
13
+3%
|
14
+4%
|
14
+2%
|
14
+0%
|
14
+0%
|
14
+2%
|
16
+10%
|
16
-1%
|
16
+2%
|
16
+0%
|
16
+1%
|
16
-2%
|
16
-3%
|
16
+1%
|
16
-1%
|
16
+5%
|
18
+8%
|
19
+6%
|
18
-3%
|
19
+2%
|
18
0%
|
18
-1%
|
20
+7%
|
19
-2%
|
18
-5%
|
18
+0%
|
18
-4%
|
18
+4%
|
21
+13%
|
22
+6%
|
23
+2%
|
22
0%
|
21
-6%
|
21
-1%
|
20
-2%
|
20
-2%
|
21
+3%
|
20
-4%
|
21
+7%
|
22
+5%
|
23
+4%
|
26
+10%
|
26
+1%
|
25
-2%
|
26
+1%
|
25
-2%
|
26
+2%
|
27
+5%
|
27
+1%
|
27
+0%
|
27
-2%
|
27
-1%
|
26
-3%
|
26
+0%
|
25
-4%
|
24
-5%
|
24
+1%
|
24
-1%
|
24
+1%
|
25
+4%
|
25
+1%
|
26
+4%
|
28
+5%
|
28
+0%
|
28
0%
|
28
0%
|
28
+0%
|
28
+0%
|
28
+1%
|
29
+3%
|
31
+4%
|
30
-3%
|
29
-3%
|
28
-3%
|
27
-4%
|
29
+6%
|
30
+4%
|
31
+5%
|
33
+7%
|
33
+1%
|
34
+3%
|
35
+3%
|
35
+0%
|
|
| Pre-Tax Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Income Expense |
(5)
|
(5)
|
(5)
|
(4)
|
(4)
|
(4)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(7)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
|
| Total Other Income |
0
|
1
|
1
|
1
|
0
|
0
|
0
|
0
|
0
|
1
|
1
|
1
|
0
|
1
|
0
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
0
|
0
|
0
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
0
|
1
|
1
|
1
|
2
|
2
|
2
|
2
|
2
|
2
|
3
|
3
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
3
|
3
|
3
|
4
|
3
|
1
|
1
|
1
|
1
|
1
|
4
|
4
|
|
| Pre-Tax Income |
6
N/A
|
6
+9%
|
6
+1%
|
6
+2%
|
7
+13%
|
7
+5%
|
8
+7%
|
7
-11%
|
6
-10%
|
6
-1%
|
6
-7%
|
7
+13%
|
7
+12%
|
8
+6%
|
8
+5%
|
8
+4%
|
8
-1%
|
8
+1%
|
9
+3%
|
10
+16%
|
10
-1%
|
10
+3%
|
10
-1%
|
10
+4%
|
10
-1%
|
10
-2%
|
11
+4%
|
10
-2%
|
11
+5%
|
12
+9%
|
13
+6%
|
12
-6%
|
12
+2%
|
12
+1%
|
12
-2%
|
13
+10%
|
13
-3%
|
12
-8%
|
12
N/A
|
11
-9%
|
11
+8%
|
14
+22%
|
15
+11%
|
16
+7%
|
16
0%
|
15
-9%
|
15
-3%
|
14
-3%
|
14
-2%
|
15
+5%
|
14
-6%
|
15
+9%
|
16
+7%
|
17
+5%
|
19
+13%
|
20
+4%
|
19
-2%
|
20
+3%
|
19
-2%
|
20
+3%
|
21
+7%
|
22
+2%
|
22
0%
|
21
-2%
|
21
+0%
|
21
-2%
|
21
+2%
|
21
-3%
|
19
-7%
|
19
0%
|
19
-2%
|
19
+1%
|
20
+6%
|
21
+3%
|
22
+5%
|
23
+4%
|
23
-1%
|
23
+1%
|
23
0%
|
23
0%
|
23
0%
|
23
+2%
|
24
+3%
|
25
+5%
|
24
-4%
|
23
-4%
|
22
-3%
|
22
-3%
|
23
+7%
|
24
+5%
|
25
+5%
|
27
+7%
|
28
+2%
|
29
+4%
|
30
+4%
|
30
+1%
|
|
| Net Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tax Provision |
(2)
|
(2)
|
(2)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(2)
|
(2)
|
(2)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(4)
|
(5)
|
(6)
|
(6)
|
(7)
|
(7)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(7)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(7)
|
(7)
|
(5)
|
(5)
|
(4)
|
(4)
|
(5)
|
(5)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(8)
|
(8)
|
|
| Income from Continuing Operations |
3
|
4
|
4
|
4
|
4
|
4
|
5
|
4
|
4
|
4
|
4
|
4
|
4
|
5
|
5
|
5
|
5
|
5
|
5
|
6
|
6
|
6
|
6
|
6
|
6
|
6
|
6
|
6
|
6
|
7
|
8
|
7
|
7
|
7
|
7
|
8
|
8
|
7
|
7
|
6
|
7
|
8
|
9
|
10
|
10
|
9
|
9
|
9
|
8
|
9
|
8
|
9
|
10
|
10
|
11
|
12
|
11
|
12
|
11
|
12
|
13
|
13
|
13
|
13
|
13
|
13
|
14
|
14
|
15
|
15
|
15
|
15
|
15
|
15
|
16
|
17
|
17
|
17
|
17
|
17
|
17
|
17
|
18
|
19
|
18
|
17
|
17
|
16
|
17
|
17
|
18
|
20
|
20
|
21
|
22
|
23
|
|
| Net Income (Common) |
3
N/A
|
4
+9%
|
4
+0%
|
4
+2%
|
4
+13%
|
4
+4%
|
5
+7%
|
4
-10%
|
4
-7%
|
4
+0%
|
4
-7%
|
4
+12%
|
4
+9%
|
5
+5%
|
5
+5%
|
5
+4%
|
5
-1%
|
5
+1%
|
5
+3%
|
6
+18%
|
6
-2%
|
6
+3%
|
6
-1%
|
6
+2%
|
6
-1%
|
6
-3%
|
6
+4%
|
6
-3%
|
6
+4%
|
7
+10%
|
8
+7%
|
7
-6%
|
7
+3%
|
7
+1%
|
7
-3%
|
8
+11%
|
8
-4%
|
7
-8%
|
7
-1%
|
6
-10%
|
7
+7%
|
8
+22%
|
9
+12%
|
10
+7%
|
10
0%
|
9
-9%
|
9
-3%
|
9
-3%
|
8
-2%
|
9
+5%
|
8
-6%
|
9
+9%
|
10
+7%
|
10
+5%
|
11
+13%
|
12
+3%
|
11
-3%
|
12
+3%
|
11
-2%
|
12
+6%
|
13
+7%
|
13
+2%
|
13
+2%
|
13
-3%
|
14
+7%
|
14
+3%
|
15
+5%
|
15
0%
|
14
-5%
|
14
+1%
|
14
-1%
|
15
+4%
|
15
+1%
|
15
+3%
|
16
+5%
|
17
+4%
|
17
+0%
|
17
+1%
|
17
0%
|
17
N/A
|
17
0%
|
17
+2%
|
18
+3%
|
19
+6%
|
18
-4%
|
17
-4%
|
17
-4%
|
16
-6%
|
17
+7%
|
17
+4%
|
18
+5%
|
20
+10%
|
20
+2%
|
21
+5%
|
22
+5%
|
23
+1%
|
|
| EPS (Diluted) |
0.7
N/A
|
0.76
+9%
|
0.69
-9%
|
0.61
-12%
|
0.76
+25%
|
0.72
-5%
|
0.78
+8%
|
0.7
-10%
|
0.64
-9%
|
0.64
N/A
|
0.6
-6%
|
0.66
+10%
|
0.72
+9%
|
0.76
+6%
|
0.8
+5%
|
0.83
+4%
|
0.81
-2%
|
0.82
+1%
|
0.84
+2%
|
0.99
+18%
|
0.97
-2%
|
1
+3%
|
0.92
-8%
|
0.84
-9%
|
0.9
+7%
|
0.83
-8%
|
0.85
+2%
|
0.83
-2%
|
0.86
+4%
|
0.95
+10%
|
1.01
+6%
|
0.94
-7%
|
0.97
+3%
|
0.97
N/A
|
0.94
-3%
|
1.04
+11%
|
1
-4%
|
0.92
-8%
|
0.91
-1%
|
0.73
-20%
|
0.83
+14%
|
0.95
+14%
|
1.07
+13%
|
1.14
+7%
|
1.13
-1%
|
1.04
-8%
|
1
-4%
|
0.96
-4%
|
0.94
-2%
|
0.97
+3%
|
0.91
-6%
|
0.99
+9%
|
1.06
+7%
|
1.11
+5%
|
1.25
+13%
|
1.29
+3%
|
1.26
-2%
|
1.28
+2%
|
1.25
-2%
|
1.32
+6%
|
1.41
+7%
|
1.45
+3%
|
1.47
+1%
|
1.41
-4%
|
1.51
+7%
|
1.54
+2%
|
1.62
+5%
|
1.61
-1%
|
1.53
-5%
|
1.54
+1%
|
1.52
-1%
|
1.58
+4%
|
1.6
+1%
|
1.66
+4%
|
1.74
+5%
|
1.8
+3%
|
1.79
-1%
|
1.81
+1%
|
1.8
-1%
|
1.8
N/A
|
1.79
-1%
|
1.81
+1%
|
1.86
+3%
|
1.97
+6%
|
1.9
-4%
|
1.81
-5%
|
1.66
-8%
|
1.51
-9%
|
1.67
+11%
|
1.7
+2%
|
1.77
+4%
|
1.95
+10%
|
1.98
+2%
|
2.08
+5%
|
2.17
+4%
|
2.19
+1%
|
|