Artesian Resources Third Quarter 2024 Earnings: EPS Beats Expectations

Simply Wall St

November 06, 2024

Artesian Resources (NASDAQ:ARTN.A) Third Quarter 2024 Results

Key Financial Results

Revenue: US$29.1m (up 9.7% from 3Q 2023).
Net income: US$6.81m (up 34% from 3Q 2023).
Profit margin: 23% (up from 19% in 3Q 2023). The increase in margin was driven by higher revenue.
EPS: US$0.66 (up from US$0.49 in 3Q 2023).

earnings-and-revenue-history — NasdaqGS:ARTN.A Earnings and Revenue History November 6th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Artesian Resources EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.2%.

Looking ahead, revenue is forecast to grow 3.4% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Water Utilities industry in the US.

Performance of the American Water Utilities industry.

The company's shares are up 6.8% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 2 warning signs for Artesian Resources that you need to be mindful of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.