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Financial Data and Key Metrics Changes - The company reported second quarter net income of $4.3 million or $0.27 per share, an increase of $0.02 per share compared to the same period in 2023 [5] - For the first half of the year, net income was $31.5 million or $1.96 per share, representing an increase of $0.20 per share over the same period in 2023 [5] - The consolidated GAAP return on equity was 9.8% over the last 12 months [5] Business Line Data and Key Metrics Changes - Electric adjusted gross margin was $52 million for the six months ended June 30, 2024, an increase of $1.1 million compared to the same period in 2023, driven by higher distribution rates and customer growth [12] - Gas adjusted gross margin was $92.3 million for the first six months ended June 30, 2024, an increase of $8.1 million or approximately 10% compared to the same period in 2023, also reflecting higher distribution rates and customer growth [13] Market Data and Key Metrics Changes - The company added approximately 750 new electric customers and 1,100 new gas customers compared to the same period in 2023 [12][13] - The Bangor Natural Gas Company acquisition is expected to enhance customer growth, with the company serving about 8,500 customers and experiencing a historical growth rate of roughly 5% annually over the last five years [9] Company Strategy and Development Direction - The company reaffirmed its long-term earnings growth target of 5% to 7%, supported by rate base growth in the range of 6.5% to 8.5% and a dividend payout ratio between 55% and 65% [5] - The capital investment plan through 2028 totals approximately $910 million, with additional opportunities for investments in electric system modernization and utility-scale solar projects [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that full year earnings will be within the long-term guidance range and highlighted the constructive nature of recent regulatory outcomes [5][21] - The company is focused on executing its regulatory agenda, capital investment plan, and cost control initiatives to support future growth [5] Other Important Information - The company received a rate case order for its electric and gas divisions in Massachusetts, with new base distribution rates taking effect on July 1 [15] - The purchase price for Bangor Natural Gas Company is $70.9 million, with an enterprise value representing a multiple of approximately 1.2x estimated rate base as of year-end 2023 [9] Q&A Session Summary Question: What is the outlook for the company's growth and regulatory environment? - Management indicated that they are currently earning authorized returns on a consolidated basis and that recent regulatory outcomes remain constructive, supporting future growth [21]

Unitil (UTL) came out with quarterly earnings of $0.27 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.25 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 17.39%. A quarter ago, it was expected that this utility would post earnings of $1.58 per share when it actually produced earnings of $1.69, delivering a surprise of 6.96%. Over the last four quarters, the company has surpas ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-8858 UNITIL CORPORATION (Exact name of registrant as specified in its charter) NewHampshire (State or other jurisdiction of incorporation or organiz ...

HAMPTON, N.H., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE: UTL) (unitil.com) today announced Net Income of $4.3 million, or $0.27 in Earnings Per Share (EPS) for the second quarter of 2024, an increase of $0.1 million in Net Income, or $0.02 in EPS, compared to the second quarter of 2023. For the six months ended June 30, 2024, the Company reported Net Income of $31.5 million, or $1.96 in Earnings Per Share (EPS), an increase of $3.2 million in Net Income, or $0.20 in EPS, compared to the fi ...

HAMPTON, N.H., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE: UTL) (unitil.com) today announced Net Income of $4.3 million, or $0.27 in Earnings Per Share (EPS) for the second quarter of 2024, an increase of $0.1 million in Net Income, or $0.02 in EPS, compared to the second quarter of 2023. For the six months ended June 30, 2024, the Company reported Net Income of $31.5 million, or $1.96 in Earnings Per Share (EPS), an increase of $3.2 million in Net Income, or $0.20 in EPS, compared to the fi ...

HAMPTON, N.H., July 31, 2024 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE:UTL) (unitil.com) today announced that its Board of Directors declared the regular quarterly dividend on the Company's common stock of $0.425 per share, payable August 29, 2024, to shareholders of record on August 15, 2024. This quarterly dividend results in a current effective annualized dividend rate of $1.70 per share. About Unitil Corporation Unitil Corporation provides energy for life by safely and reliably delivering electricity ...

The conference call will be broadcast live in listen-only mode on the Company's Investors page at investors.unitil.com. Interested parties may access dial information for the call by registering via web link here. An archive of the webcast will be available for one year on the website at investors.unitil.com. Unitil Corporation provides energy for life by safely and reliably delivering electricity and natural gas in New England. We are committed to the communities we serve and to developing people, business ...

HAMPTON, N.H., July 23, 2024 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE:UTL) (unitil.com) has scheduled the release of its second quarter 2024 earnings before the market opens on August 6, 2024. Unitil will host its conference call and webcast later that day at 2:00 p.m. (ET) to review its quarterly 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 (UTL) announced that it has agreed to purchase Bangor Natural Gas Company (Bangor) from PHC Utilities, Inc., a subsidiary of Hope Utilities, Inc., for $70.9 million on a debt-free basis. This transaction is subject to customary adjustments for closing working capital and transaction expenses. Bangor's enterprise value is nearly 1.2 times its rate base (based on its estimated rate base as of Dec 31, 2023). Unitil will acquire full ownership of Bangor upon the transaction's closure, anticip ...