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Business Segment Information (Tables)

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Schedule of Reconciliation of Net Income

A reconciliation of net income to EBITDA and Adjusted EBITDA for the three and six months ended June 30, 2025 and 2024 is as follows (in thousands):

			Three Months Ended June 30,						Six Months Ended June 30,
			2025			2024			2025			2024
Net Income			$	1,612		$	1,730		$	2,203		$	2,421
Income tax expense			617			598			800			848
Interest income			(216)			(266)			(315)			(504)
Interest expense			1,496			1,507			2,974			3,073
Depreciation and amortization			3,317			2,996			6,645			5,930
EBITDA			6,826			6,565			12,307			11,768
Gain on disposal of fixed assets			—			(20)			—			(17)
Restricted stock expense			109			285			270			483
Acquisition gain resulting from regulatory decision			—			(37)			—			(37)
EBITDA adjustments			109			228			270			429
Adjusted EBITDA			$	6,935		$	6,793		$	12,577		$	12,197

Schedule of Significant Expense

The CODM reviews the following significant expense categories:

			Three Months Ended June 30,									Six Months Ended June 30,
			2025			2024						2025			2024
Segment Revenue			$	14,241		$	13,510					$	26,698		$	25,120
Segment Expenses
Personnel costs - operations and maintenance			1,356			1,184						2,696			2,477
Utilities, chemicals and repairs			1,183			1,084						2,215			1,875
Other operations and maintenance expenses			1,378			1,217						2,693			2,417
Personnel costs - general and administrative			2,236			2,185						4,431			4,386
Professional fees			441			482						908			933
Other general and administrative expenses			1,710			1,565						3,235			3,038
Depreciation and amortization			3,317			2,996						6,645			5,930
Total operating expenses			11,621			10,713						22,823			21,056
Operating income			2,620			2,797						3,875			4,064
Other Income (Expense)
Buckeye growth premiums			615			480						1,233			1,257
Other segment income and expenses			(1,006)			(949)						(2,105)			(2,052)
Total other expense			(391)			(469)						(872)			(795)
Income tax expense			(617)			(598)						(800)			(848)
Net Income			$	1,612		$	1,730					$	2,203		$	2,421

X

- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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