HAMPTON, N.H., Jan. 29, 2025 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE:UTL) (unitil.com) today announced that its Board of Directors raised the quarterly dividend on the Company’s common stock to $0.45 per share, an increase of $0.025 per share. Today’s action increased the Company’s annualized dividend by $0.10, to $1.80 per share. Also today, the Board declared the first quarter common stock dividend of $0.45 per share, payable February 28, 2025, to shareholders of record on February 13, 2025. About Un ...

HAMPTON, N.H., Jan. 28, 2025 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE: UTL) (unitil.com) has scheduled the release of its fourth quarter 2024 earnings after the market closes on February 10, 2025. Unitil will host its conference call and webcast on February 11, 2025 at 10:00 a.m. (ET) to review its results. Related presentation materials will be available before the call on the Company’s Investors page at investors.unitil.com. The conference call will be broadcast live in listen-only mode on the Company ...

Unitil Corporation (NYSE:UTL) Q3 2024 Earnings Conference Call November 5, 2024 10:00 AM ET Company Participants Todd Diggins - Chief Accounting Officer and Controller Thomas Meissner - Chairman and CEO Daniel Hurstak - SVP, CFO and Treasurer Conference Call Participants Shelby Tucker - RBC Operator Good day, thank you for standing by. Welcome to the Q3 2024 Unitil Earnings Conference call. At this time, all participants are in a listen-only mode. Please be advised that today's conference is being recorded. ...

Unitil Corporation (NYSE:UTL) Q3 2024 Earnings Conference Call November 5, 2024 10:00 AM ET Company Participants Todd Diggins - Chief Accounting Officer and Controller Thomas Meissner - Chairman and CEO Daniel Hurstak - SVP, CFO and Treasurer Conference Call Participants Shelby Tucker - RBC Operator Good day, thank you for standing by. Welcome to the Q3 2024 Unitil Earnings Conference call. At this time, all participants are in a listen-only mode. Please be advised that today's conference is being recorded. ...

ි Unitil Q3 2024 Financial Results and Strategic Update November 5, 2024 Forward-Looking Statements and Use of Non-GAAP Measures This presentation contains "forward-looking statements" including within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included in this presentation are forward-looking statements. These forward-looking statements include statements regarding Unitil Corporation and its su ...

Unitil (UTL) came out with quarterly earnings of $0.02 per share, beating the Zacks Consensus Estimate of $0.01 per share. This compares to earnings of $0.09 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 100%. A quarter ago, it was expected that this utility would post earnings of $0.23 per share when it actually produced earnings of $0.27, delivering a surprise of 17.39%.Over the last four quarters, the company has surpasse ...

Financial Performance - As of September 30, 2024, total operating revenues were $92.9 million, a decrease of 10% from $103.9 million in the same period of 2023[70]. - Electric operating revenues were $62.5 million, down from $72.1 million year-over-year, while gas operating revenues decreased to $30.4 million from $31.8 million[70]. - Total operating expenses for the three months ended September 30, 2024, were $87.1 million, a reduction of 9% compared to $95.9 million in the same period of 2023[70]. - Net income applicable to common shares for the nine months ended September 30, 2024, was $31.5 million, compared to $29.7 million in the same period of 2023, reflecting a growth of 6%[70]. - Cash provided by operating activities for the nine months ended September 30, 2024, was $102.6 million, compared to $78.7 million in 2023, reflecting a significant increase[75]. - Total Electric and Gas Operating Revenues for the three months ended September 30, 2024, were $92.9 million, a decrease from $103.9 million in the same period of 2023, representing a decline of approximately 10.0%[91][94]. - For the nine months ended September 30, 2024, Total Electric and Gas Operating Revenues were $367.3 million, compared to $427.5 million for the same period in 2023, indicating a decrease of about 14.1%[95][97]. - Segment profit for the nine months ended September 30, 2024, was $31.5 million, compared to $29.7 million for the same period in 2023, showing an increase of approximately 6.0%[126]. Assets and Liabilities - As of September 30, 2024, the company's total assets were $1,737.1 million, an increase from $1,620.2 million in the previous year[72]. - Total current liabilities decreased to $179.2 million as of September 30, 2024, down from $243.4 million in 2023, indicating improved financial health[73]. - Long-term debt, less current portion, increased to $638.4 million as of September 30, 2024, compared to $509.0 million in 2023, suggesting increased borrowing[73]. - Total stockholders' equity rose to $502.4 million as of September 30, 2024, up from $479.8 million in 2023, reflecting growth in shareholder value[73]. - The company reported a decrease in cash and cash equivalents to $6.3 million at the end of the period, down from $6.0 million in 2023[75]. - The company’s total capitalization reached $1,140.8 million as of September 30, 2024, compared to $988.8 million in 2023, indicating overall growth in financial structure[73]. Revenue and Collections - Billed and unbilled revenue for Residential customers in the three months ended September 30, 2024, was $46.3 million, down from $55.9 million in the same period of 2023, reflecting a decline of approximately 17.2%[91][94]. - Total Accrued Revenue as of September 30, 2024, was $65.4 million, an increase from $57.3 million in September 2023 and $63.4 million in December 2023[105]. - The Company’s total Billed and Unbilled Revenue for the nine months ended September 30, 2024, was $369.9 million, compared to $439.8 million for the same period in 2023, a decrease of approximately 15.9%[95][97]. - The Allowance for Doubtful Accounts as of September 30, 2024, was $2.0 million, unchanged from September 30, 2023, but down from $2.4 million as of December 31, 2023[103]. Capital Expenditures and Investments - Capital expenditures included in accounts payable amounted to $11.8 million as of September 30, 2024, compared to $8.6 million in 2023, indicating increased investment in assets[75]. - Capital expenditures for the nine months ended September 30, 2024, totaled $114.3 million, compared to $93.4 million in the same period in 2023, representing an increase of about 22.3%[126]. Debt and Financing - The average interest rate on short-term borrowings for the three months ended September 30, 2024, was 6.6%, compared to 6.4% for the same period in 2023[67]. - The Company issued $20.0 million of Notes due 2034 at 5.99% on August 21, 2024, to refinance existing debt[133]. - Total long-term debt as of September 30, 2024, is $647.3 million, an increase from $519.3 million in September 30, 2023[128]. - The only financial covenant in the Credit Facility requires that Funded Debt to Capitalization cannot exceed 65%, and the Company was in compliance as of September 30, 2024[132]. Regulatory and Compliance - The Company has been subject to revenue decoupling since June 1, 2022, which applies to substantially all of its total annual electric sales volumes[97]. - The Company has recorded $7.2 million of environmental costs in Regulatory Assets, which are expected to be recovered over varying periods in the next seven years[112]. - The MDPU opened an investigation into the role of gas local distribution companies (LDCs) in achieving Massachusetts' 2050 climate goals, requiring LDCs to submit Climate Compliance Plans every five years starting in 2025[165]. Employee and Labor Relations - The company had 541 employees as of September 30, 2024, with a good relationship and no major labor disruptions reported[64]. - The company expects to negotiate new collective bargaining agreements for 173 union-represented employees before their expiration dates[66]. Environmental and Legal Matters - The Company is involved in various legal proceedings but believes they will not materially affect its financial position or results[169]. - The Company has accrued $2.5 million for estimated costs to complete remediation at the Rochester site, with a high-end estimate of $5.6 million for possible remediation costs[170]. Dividends and Shareholder Returns - The company paid dividends of $20.6 million for the nine months ended September 30, 2024, compared to $19.6 million in the same period of 2023[75]. - The Company declared dividends of $0.425 per share for the quarter ending November 29, 2024[125].

HAMPTON, N.H., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE: UTL) (unitil.com) today announced GAAP Net Income (Net Income) of $11 thousand, or $0.00 in Earnings Per Share (EPS), for the third quarter of 2024, a decrease of $1.4 million in Net Income, or $0.09 in EPS, compared to the third quarter of 2023. The Company’s Net Income was $31.5 million, or $1.96 in EPS, for the first nine months of 2024, an increase of $1.8 million in Net Income, or $0.11 in EPS, compared to the first nine months ...

HAMPTON, N.H., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE:UTL) (unitil.com) today announced that its Board of Directors has elected Jane Lewis-Raymond to the Board. The addition of a new director is part of the Board's normal succession planning process in anticipation of the upcoming retirements of directors reaching the mandatory retirement age of 75. Ms. Lewis-Raymond will stand for election to the Board by the shareholders of the Company at the next annual meeting of shareholders, which ...

HAMPTON, N.H., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE:UTL) (unitil.com) today released its 2024 Corporate Sustainability and Responsibility Report (the “CSR” or the “Report”). The Report highlights the Company’s 2023 successes as well as continuing initiatives in 2024, and outlines progress toward its commitment to environmental sustainability, human capital management, safety and reliability, and customer engagement. “We are pleased to highlight the key initiatives that demonstrate our ...