Connecticut Water Service Inc. said third-quarter net income doubled despite cool, wet summer weather that curbed the Clinton utility’s water sales.
Connecticut Water earned $5.8 million, or 67 cents a share, in the three months ended Sept. 30, up from $2.8 million, or 34 cents a share, the same period last year.
Third-quarter revenues were $16.7 million, down from $17 million the same quarter a year ago.
CEO Eric Thornburg said the utility will seek a rate increase early next year.
ADVERTISEMENT
Connecticut Water serves 300,000 people in 54 towns.
