Heavy rainfall swamped second-quarter earnings for Connecticut Water Service Inc. as water production and sales uncharacteristically dropped in the period.
The Clinton water utility earned $2.3 million, or 27 cents a share, in the three months ended June 30, down from $3 million, or 35 cents a share, a year earlier.
Revenues dropped in the latest quarter to $15.1 million from $16 million at a time when water consumption during late spring and early summer typically rises.
Connecticut’s 13th wettest June in the past 115 years, with 6.28 inches of rain, the company said, citing meterological data. The state’s average June temperature was the coolest in 24 years.
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Connecticut Water serves more than 88,000 customers in 54 towns.
