Welcome to our dedicated page for Unitil Corporation news (Ticker: UTL), a resource for investors and traders seeking the latest updates and insights on Unitil Corporation stock.
Unitil Corporation (NYSE: UTL) is a public utility holding company that provides essential energy services in New England through its subsidiaries. The company focuses on the distribution of natural gas and electricity to residential, commercial, and industrial customers in Maine, New Hampshire, and Massachusetts. Unitil's commitment to its customers centers around safely and reliably delivering energy while fostering sustainable practices.
Unitil serves approximately 108,500 electric customers and 88,400 natural gas customers. The company operates through three primary segments: utility gas operations, utility electric operations, and non-regulated business. Its non-regulated segment, Usource, offers energy procurement and advisory services.
Recent financial results highlight Unitil's disciplined approach to cost management and strategic growth. For example, Electric GAAP Gross Margin for 2023 was $78.1 million, an increase driven by higher rates and customer growth. Similarly, Gas GAAP Gross Margin was $114.1 million, showcasing a strong financial profile despite challenges like warmer winter weather.
To engage stakeholders, Unitil frequently hosts conference calls and webcasts, making detailed financial and operational information accessible. The company continues to demonstrate resilience through proactive management of regulatory initiatives and a steadfast focus on sustainability. As part of its long-term strategy, Unitil maintains an unbroken record of quarterly dividend payments, reflecting its financial stability and shareholder value.
Unitil remains committed to community involvement, evidenced by its active engagement in developing people, business practices, and technologies that enhance energy efficiency. For more information about Unitil's services, community activities, and sustainability initiatives, visit unitil.com.
Unitil (NYSE: UTL) reported Q3 2024 GAAP Net Income of $11 thousand ($0.00 EPS), down $1.4 million from Q3 2023. For the first nine months of 2024, Net Income was $31.5 million ($1.96 EPS), up $1.8 million year-over-year. The company's Adjusted Net Income for Q3 2024 was $0.4 million ($0.02 EPS), while the nine-month adjusted figure reached $32.1 million ($2.00 EPS). Higher rates and customer growth drove earnings improvements in the first nine months, despite increased operational costs and depreciation expenses.
Unitil (NYSE:UTL) has elected Jane Lewis-Raymond to its Board of Directors as part of normal succession planning ahead of upcoming retirements of directors reaching the mandatory retirement age of 75. Lewis-Raymond, currently principal of Hilltop Strategies, brings extensive experience as a natural gas utility executive with expertise in corporate governance, cybersecurity, and ESG programs. Her background includes roles as senior VP at Piedmont Natural Gas Company and VP of regulatory affairs at American Gas Association. She will stand for election by shareholders at the April 2025 annual meeting.
Unitil (NYSE:UTL) has declared its regular quarterly dividend of $0.425 per share, payable on November 29, 2024, to shareholders of record as of November 14, 2024. This quarterly payout establishes an effective annualized dividend rate of $1.70 per share. Unitil, a public utility holding company operating in Maine, New Hampshire and Massachusetts, serves approximately 108,500 electric customers and 88,400 natural gas customers across New England.
Unitil (NYSE:UTL) has released its 2024 Corporate Sustainability and Responsibility Report, showcasing the company's 2023 achievements and ongoing 2024 initiatives. The report focuses on five key areas: carbon reduction and environmental stewardship, operational safety and reliability, employee development and safety, advancement of diversity, equity and inclusion, and customer satisfaction and engagement.
The web-based, interactive report aligns with SASB reporting standards and includes industry-specific metrics following American Gas Association and Edison Electric Institute templates. Unitil serves approximately 108,500 electric customers and 88,400 natural gas customers across Maine, New Hampshire, and Massachusetts, demonstrating its commitment to providing dependable and efficient energy services while supporting community development.
Unitil (NYSE: UTL) has announced the schedule for its third quarter 2024 earnings release and conference call. The earnings will be released after the market closes on November 4, 2024, followed by a conference call and webcast on November 5, 2024, at 10:00 a.m. (ET). Presentation materials will be available on the company's Investors page before the call.
The conference call will be broadcast live in listen-only mode on Unitil's Investors page. Interested parties can access dial information by registering via a provided web link. An archive of the webcast will be available for one year on the company's website.
Unitil is a public utility holding company operating in Maine, New Hampshire, and Massachusetts, serving approximately 108,500 electric customers and 88,400 natural gas customers.
Unitil (NYSE: UTL) reported Net Income of $4.3 million, or $0.27 EPS for Q2 2024, up $0.1 million or $0.02 EPS from Q2 2023. For H1 2024, Net Income was $31.5 million, or $1.96 EPS, an increase of $3.2 million or $0.20 EPS year-over-year. Q2 2024 Electric and Gas GAAP Gross Margins were $17.8 million and $20.5 million respectively. The company's planned acquisition of Bangor Natural Gas and successful rate cases in Massachusetts reflect its commitment to long-term growth. Unitil serves approximately 108,500 electric and 88,400 natural gas customers in New England.
Unitil (NYSE:UTL) has announced a quarterly dividend of $0.425 per share on its common stock. The dividend is payable on August 29, 2024, to shareholders of record as of August 15, 2024. This quarterly dividend translates to an effective annualized dividend rate of $1.70 per share.
Unitil is a public utility holding company operating in Maine, New Hampshire, and Massachusetts. The company provides electricity and natural gas services to approximately 108,500 electric customers and 88,400 natural gas customers across New England. Unitil emphasizes safe and reliable energy delivery, community involvement, and the development of efficient technologies and business practices.
Unitil (NYSE: UTL) has announced the schedule for its second quarter 2024 earnings release and conference call. The earnings will be released before the market opens on August 6, 2024, followed by a conference call and webcast at 2:00 p.m. (ET) on the same day. Presentation materials will be available on the company's Investors page before the call.
The conference call will be broadcast live in listen-only mode on Unitil's Investors page. Interested parties can access dial information by registering via a provided web link. An archive of the webcast will be available for one year on the company's website.
Unitil is a public utility holding company operating in Maine, New Hampshire, and Massachusetts, serving approximately 108,500 electric customers and 88,400 natural gas customers in New England.
Unitil (NYSE: UTL) announced plans to acquire Bangor Natural Gas Company from Hope Utilities' subsidiary, PHC Utilities, for $70.9 million on a debt-free basis. The acquisition, which values Bangor at 1.2 times its rate base as of December 31, 2023, will make Bangor a wholly-owned subsidiary of Unitil upon completion. The transaction is expected to close by the end of Q1 2025, pending approval from the Maine Public Utilities Commission and other conditions.
Unitil plans to finance the purchase with a balanced mix of equity and debt, having secured committed debt financing from Scotiabank. Bangor, operational since 1998, serves approximately 8,500 customers with 351 miles of distribution pipelines and nine miles of transmission pipelines. The acquisition aims to enhance Unitil's natural gas distribution operations in Maine.
Unitil reported a Net Income of $27.2 million, or $1.69 EPS, for the first quarter of 2024, showing an increase of $3.1 million in Net Income compared to the same period in 2023. The Electric and Gas GAAP Gross Margins were $20.1 million and $50.2 million, respectively. The company's successful performance was attributed to the response to winter storms, progress on regulatory initiatives, and disciplined cost management.
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