Middlesex Water Company (MSEX)

Pretax margin

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	51,256	47,612	42,290	37,920	32,565	34,221	39,744	39,847	45,670	43,758	37,910	37,549	31,054	32,351	34,608	33,874	34,306	33,485	31,671	30,828
Revenue (ttm)	US$ in thousands	191,877	183,372	174,987	165,353	160,542	160,340	159,166	157,131	161,158	154,740	147,137	144,256	135,282	135,917	135,959	134,658	133,956	131,761	129,520	127,795
Pretax margin		26.71%	25.96%	24.17%	22.93%	20.28%	21.34%	24.97%	25.36%	28.34%	28.28%	25.77%	26.03%	22.96%	23.80%	25.45%	25.16%	25.61%	25.41%	24.45%	24.12%

December 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $51,256K ÷ $191,877K
= 26.71%

Middlesex Water Company's pretax margin has exhibited some fluctuation over the reported periods.

- The pretax margin started at 24.12% in March 2020 and experienced a slight increase to 25.61% by the end of December 2020.
- There was a slight decrease to 25.16% by March 2021, followed by a slight increase to 25.45% by June 2021.
- However, there was a notable decline in pretax margin to 22.96% by December 2021.
- The pretax margin then rebounded to reach 28.34% by December 2022, showing a significant improvement compared to the previous periods.
- In the following periods, the pretax margin fluctuated between 20.28% and 26.71% by the end of December 2024.

Overall, Middlesex Water Company's pretax margin has shown varying levels of profitability over the reported periods, with some years demonstrating stronger performance compared to others. Further analysis may be needed to identify the factors contributing to these fluctuations in pretax margin.