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Unitil Reports 2026 Second Quarter Earnings

UTL
  • Unitil Corporation reported Net Income of $4.7 million ($0.26 EPS) for the second quarter of 2026, an increase of $0.7 million compared to the same period in 2025.
  • For the six months ended June 30, 2026, Net Income reached $37.9 million ($2.11 EPS), up $6.4 million from the first half of 2025.
  • Adjusted Net Income excluding acquisition transaction costs was $5.2 million ($0.29 EPS) for the quarter and $39.0 million ($2.17 EPS) for the six months.
  • The company acquired Bangor Natural Gas Company, Maine Natural Gas Company, and the Aquarion Water Companies, with related transaction costs excluded from Adjusted Net Income.
  • Electric GAAP Gross Margin increased to $23.0 million for the quarter and $44.3 million for the six months, driven by higher rates and customer growth.
  • Gas GAAP Gross Margin rose to $25.0 million for the quarter and $92.1 million for the six months, influenced by higher rates, customer growth, and favorable winter weather.
  • Electric Adjusted Gross Margin was $31.6 million for the quarter and $61.2 million for the six months, while Gas Adjusted Gross Margin was $40.6 million and $122.7 million, respectively.
  • Operation and Maintenance expenses increased by $2.5 million for the quarter and $3.3 million for the six months due to higher utility operating and labor costs.
  • Depreciation and Amortization expense grew by $2.4 million for the quarter and $4.0 million for the six months, reflecting higher utility plant levels.
  • The Board of Directors declared quarterly dividends of $0.475 per share at meetings in January, April, and July 2026, establishing an annualized rate of $1.90 per share.
  • Total Electric kWh Sales increased 0.3% for the quarter but decreased 1.6% for the six months compared to 2025.
  • Total Gas Therm Sales increased 8.8% for the quarter and 12.0% for the six months compared to the prior year periods.
  • A quarterly conference call to discuss the results is scheduled for August 4, 2026, at 2:00 p.m. Eastern Time.