New Leadership Steers Middlesex Water Towards Financial Precision and Strategic Growth

Introducing the New Chief Accounting Officer: Tatyana Kaplan's Strategic Appointment

Middlesex Water Company, a distinguished entity listed on NASDAQ under the ticker MSEX, proudly declared the appointment of Tatyana Kaplan as its new Vice President and Chief Accounting Officer. This pivotal leadership change became effective on March 26, 2026, marking a new chapter in the company's financial governance and operational strategy. Kaplan's arrival is expected to significantly bolster the firm's accounting and financial reporting capabilities.

Kaplan's Expertise: A Foundation in Utility Sector Accounting

Before joining Middlesex Water, Tatyana Kaplan held a reputable position as the director of accounting for Veolia North America's regulated utility division. In this role, she was instrumental in overseeing the intricate landscape of regulatory accounting and reporting across half a dozen jurisdictions. Her comprehensive background in managing complex financial regulatory frameworks within the utility sector makes her an invaluable asset to Middlesex Water, promising enhanced financial oversight and compliance.

Middlesex Water's Financial Landscape: Performance and Investment Outlook for 2025-2028

The company recently disclosed its financial results for 2025, revealing a net income of $42.8 million. This figure represents a modest decrease of $1.5 million compared to the previous year, with diluted earnings per share standing at $2.36, down from $2.47 in 2024. Despite the slight dip in net income, Middlesex Water reported a robust operating revenue of $194.7 million, an increase of $2.8 million, primarily driven by strategic rate adjustments and an expanding customer base. For the fourth quarter, net income was $8.6 million, with earnings per share at $0.46. Demonstrating a forward-looking approach, the company invested $96 million in infrastructure projects throughout 2025 and has ambitious plans to allocate an additional $506 million for infrastructure enhancements between 2026 and 2028.

Core Business Operations: Regulated Water and Wastewater Management

Middlesex Water Company's operational framework encompasses the ownership and management of regulated water utility and wastewater systems. Its diverse service portfolio includes essential functions such as water production, purification, and distribution, alongside comprehensive municipal contract operations and efficient wastewater collection and treatment. The company's operations are strategically divided into two distinct segments: regulated and non-regulated, allowing for specialized management and optimized service delivery across its varied offerings.