Unitil ( (UTL) ) has released its Q1 earnings. Here is a breakdown of the information Unitil presented to its investors.
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Unitil Corporation is a public utility holding company based in Hampton, New Hampshire, primarily engaged in the local distribution of electricity and gas across New Hampshire, Massachusetts, and Maine. The company operates through its subsidiaries, providing essential utility services to a substantial customer base in these regions.
In its latest earnings report for the first quarter of 2025, Unitil Corporation reported a slight increase in net income, reaching $27.5 million, or $1.69 per share, compared to the same period in 2024. The company’s adjusted net income, which excludes transaction-related costs, was $28.4 million, reflecting a positive performance driven by higher rates and customer growth.
Key financial highlights include a notable increase in gas adjusted gross margin by $9.9 million, attributed to higher rates, customer growth, and colder winter weather. Electric adjusted gross margin also saw a modest increase, supported by higher distribution rates. However, the company faced increased operation and maintenance expenses, primarily due to higher utility operating costs and acquisition-related expenses.
Looking ahead, Unitil Corporation remains focused on maintaining its robust financial health and operational efficiency. The company’s management is optimistic about its ability to navigate future challenges and continue delivering value to its customers and shareholders, supported by its strategic investments and regulatory framework.