Q4 2025 Financial Results and Strategic Update February 10, 2026 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 subsidiari ...

Core Insights - Unitil Corporation reported a GAAP Net Income of $50.2 million, or $2.97 in Earnings Per Share (EPS), for the year ended December 31, 2025, reflecting an increase of $3.1 million in Net Income and $0.04 in EPS compared to 2024 [1][10] - The company's Adjusted Net Income was $53.3 million, or $3.16 in EPS, representing an increase of $5.5 million and $0.19 in EPS compared to 2024, excluding costs related to recent acquisitions [1][18] - The financial performance was driven by higher rates and continued customer growth, with a reaffirmation of long-term EPS growth of 5% to 7% [2][11] Financial Performance - Electric GAAP Gross Margin was $82.7 million in 2025, an increase of $4.7 million compared to 2024, driven by higher rates and customer growth [2][5] - Gas GAAP Gross Margin reached $142.3 million in 2025, an increase of $22.2 million compared to 2024, primarily due to higher rates and customer growth [5][6] - Total Operating Revenue for 2025 was $536.0 million, with Electric Revenues at $236.4 million and Gas Revenues at $299.6 million [25][29] Cost and Expenses - Operation and Maintenance (O&M) expenses increased by $14.9 million in 2025, reflecting higher utility operating costs, labor costs, and acquisition costs [7][30] - Depreciation and Amortization expenses rose by $12.6 million in 2025, influenced by higher depreciation rates and additional depreciation from increased utility plant in service [8][30] - Interest Expense, Net increased by $7.4 million in 2025, primarily due to higher interest on increased debt from acquisitions [9][30] Customer Metrics - Total Electric kWh Sales decreased by 0.6% to 1,574.4 million kWh in 2025, with residential sales increasing by 4.1% while commercial/industrial sales decreased by 4.0% [29] - Total Gas Therm Sales increased by 26.6% to 278.5 million therms, with residential sales up by 34.0% and commercial/industrial sales up by 24.8% [29] Dividends - The annual common dividend for 2025 was $1.80 per share, with a subsequent increase to $1.90 per share declared in January 2026 [11][30]

Core Viewpoint - Unitil Corporation reported a net income of $27.5 million, or $1.69 in EPS, for Q1 2025, reflecting a slight increase compared to the same period in 2024, driven by strong operational performance and strategic initiatives [1][2]. Financial Performance - The adjusted net income for Q1 2025 was $28.4 million, or $1.74 in EPS, an increase of $1.2 million, or $0.05 in EPS, compared to Q1 2024 [1][19]. - Electric GAAP gross margin decreased to $19.6 million, down $0.5 million from Q1 2024, primarily due to higher depreciation and amortization expenses [2]. - Electric adjusted gross margin increased to $27.5 million, reflecting a $0.4 million rise compared to Q1 2024, attributed to higher rates and customer growth [3][24]. - Gas GAAP gross margin rose to $57.1 million, an increase of $6.9 million from Q1 2024, driven by higher rates, customer growth, and favorable winter weather [5][24]. - Gas adjusted gross margin reached $70.9 million, up $9.9 million from the previous year, also influenced by higher rates and customer growth [6][24]. Operational Expenses - Operation and maintenance expenses increased by $4.4 million in Q1 2025, reflecting higher utility operating costs, labor costs, and professional fees [7]. - Depreciation and amortization expenses rose by $3.7 million, influenced by higher depreciation rates and additional utility plant in service [8]. - Interest expense increased by $1.8 million, primarily due to higher long-term debt levels and interest expenses on regulatory liabilities [11]. Sales and Revenue - Total electric kWh sales increased by 6.9% to 438.2 million kWh in Q1 2025, with residential sales up by 11.1% [27]. - Total gas therm sales increased by 26.1% to 113.1 million therms, with residential sales rising by 33.5% [27]. - Electric revenues decreased by $13.4 million to $60.2 million, while gas revenues increased by $5.5 million to $110.6 million [27]. Dividends - The Board of Directors declared quarterly dividends of $0.45 per share, maintaining an annualized dividend rate of $1.80 per share, continuing a record of consistent quarterly payments [13].