newsfilter
← Latest News
GlobeNewswire·

Unitil Reports 2026 Third Quarter Earnings

UTL
  • Unitil Corporation reported a net loss of $1.5 million ($0.08 per share) for the third quarter of 2026, a decrease of $1.2 million in net income compared to the same period in 2025.
  • For the nine months ended September 30, 2026, the company recorded net income of $36.4 million ($2.02 per share), an increase of $5.2 million compared to the first nine months of 2025.
  • Adjusted net income for the third quarter of 2026 was a loss of $0.7 million ($0.04 per share), excluding transaction-related costs from the acquisition of Bangor, Maine Natural, and Aquarion Companies.
  • Adjusted net income for the first nine months of 2026 was $38.3 million ($2.12 per share), an increase of $4.8 million compared to the same period in 2025.
  • Electric GAAP gross margin increased by $1.0 million to $26.1 million in the third quarter, driven by higher rates and customer growth, while the nine-month increase was $7.7 million to $70.4 million.
  • Gas GAAP gross margin rose by $1.1 million to $13.5 million in the third quarter, with a nine-month increase of $12.9 million to $105.6 million, influenced by colder winter weather in 2026.
  • Water revenues totaled $3.1 million for both the three and nine months ended September 30, 2026, as acquisitions of the Aquarion Companies closed on June 30, 2026.
  • Operation and Maintenance expenses increased by $4.9 million in the third quarter and $8.2 million in the nine months, primarily due to higher utility operating costs, labor costs, and acquisition-related expenses.
  • Depreciation and amortization expense increased by $2.6 million in the third quarter and $6.6 million in the nine months, attributed to higher levels of utility plant in service.
  • The Board of Directors declared quarterly dividends of $0.475 per share at meetings in January, April, July, and October 2026, resulting in an annualized rate of $1.90 per share.
  • Electric kWh sales increased by 1.3% in the third quarter, while gas therm sales rose by 10.5% in the same period.
  • Unitil will host a conference call on November 3, 2026, at 2:00 p.m. Eastern Time to discuss the third quarter 2026 results.