Unitil ( (UTL) ) has released its Q4 earnings. Here is a breakdown of the information Unitil presented to its investors.
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Unitil Corporation, a public utility holding company, provides reliable electricity and natural gas services across New England, focusing on safety, reliability, and operational efficiency.
In its latest earnings report for the year ended December 31, 2024, Unitil Corporation announced a GAAP Net Income of $47.1 million, equating to $2.93 per share, marking an increase from the previous year. The company’s performance was bolstered by higher rates and customer growth.
Key financial highlights included an increase in Adjusted Net Income to $47.8 million, or $2.97 per share, reflecting strategic business decisions such as the acquisition of Bangor Natural Gas. Electric Adjusted Gross Margin rose by $3.2 million, driven by increased rates and customer expansion, while Gas Adjusted Gross Margin saw a notable rise of $12.4 million. Despite an increase in operational expenses, the company maintained a positive trajectory in revenue growth.
Looking forward, Unitil Corporation remains optimistic about its future, emphasizing its commitment to regulatory advancements, customer service, and strategic growth, aiming to continue its trend of financial stability and service excellence in the energy sector.