U.S. Markets open in 7 hrs 47 mins

Artesian Resources (ARTNA) Q4 Earnings, Revenues Improve Y/Y

Zacks Equity Research
1 / 2

SNE vs. DLB: Which Stock Should Value Investors Buy Now?

SNE vs. DLB: Which Stock Is the Better Value Option?

Artesian Resources Corporation ARTNA delivered fourth-quarter 2017 earnings of 50 cents per share. The figure improved 66.7% from 30 cents in the year-ago quarter.

On a GAAP basis, Artesian Resources posted earnings of 40 cents per share. The difference between GAAP and adjusted earnings was primarily due to the effects of the tax reform.

Total Revenues

The company’s operating revenues were $20.2 million, up 4% year over year. Total revenues improved on the back of higher water sales revenues, courtesy of more consumption by customers and increase in the Distribution System Improvement Charge.

Artesian Resources Corporation Price, Consensus and EPS Surprise

Artesian Resources Corporation Price, Consensus and EPS Surprise | Artesian Resources Corporation Quote

Highlights of the Release

In the quarter under review, Artesian Resources’ total operating expenses were $15 million, flat year over year.

Interest expenses were $1.6 million, down 5.2% year over year. The downside was caused by refinancing of the company’s Series O and Series Q First Mortgage bonds in January 2017. New Interest rate for the bonds is 4.24% instead of 8.17% & 4.75%.

The company renewed nearly 8.5 miles of water main in 16 communities in New Castle County, Delaware. It replaced or upgraded eight wells and started construction of a 90-million gallon storage in Sussex County.

The company’s long-term debts were $105.6 million, up 3.2% from $102.3 million of 2016.

 Zacks Rank

Artesian Resources carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Peer Releases

American Water Works Company AWK posted fourth-quarter 2017 earnings per share of 69 cents, beating the Zacks Consensus Estimate of 66 cents by 4.5%.

American States Water Company AWR posted fourth-quarter 2017 earnings of 36 cents per share, which surpassed the Zacks Consensus Estimate of 35 cents by 2.7%.

Aqua America, Inc. WTR reported fourth-quarter 2017 earnings per share of 30 cents, lagging the Zacks Consensus Estimate of 31 cents by 3.2%.

Can Hackers Put Money INTO Your Portfolio?

Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.

Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.

Download the new report now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
American Water Works (AWK) : Free Stock Analysis Report
 
Artesian Resources Corporation (ARTNA) : Free Stock Analysis Report
 
Aqua America, Inc. (WTR) : Free Stock Analysis Report
 
American States Water Company (AWR) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research