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 Corporation (NYSE: UTL) is advancing its sustainability efforts by enhancing its fleet with hybrid electric vehicles and launching an idling reduction program. Following the introduction of its first hybrid bucket truck in 2022, the company now operates nine hybrid pickups in New Hampshire and plans to expand its fleet further by adding more hybrid and alternative fuel vehicles. The goal is a 50% reduction in carbon emissions by 2030 and net-zero emissions by 2050. An idle mitigation program has begun, expected to cut idling time by 92%, leading to significant emissions reductions. Unitil's initiatives reflect a strategic commitment to sustainable energy solutions.
Unitil Corporation (NYSE: UTL) reported a strong financial performance for the year ended December 31, 2022, with a net income of $41.4 million and $2.59 EPS, reflecting a rise of $5.3 million or $0.24 EPS from 2021. The company's Electric Gross Margin was $73.4 million, boosted by higher rates and customer growth, though electric sales decreased by 1.0%. Conversely, the Gas Gross Margin rose to $107.6 million, up $7.1 million, driven by higher rates and colder weather. The company also declared an increased quarterly dividend of $0.405 per share, raising its annual rate to $1.62.
Unitil Corporation (NYSE:UTL) announced the retirement of Todd R. Black, Senior Vice President, effective May 1, 2023, concluding a 35-year career in the utility industry. Mr. Black expressed pride in Unitil's accomplishments during his 25-year tenure, highlighting the talent within the company. He has served as Senior Vice President of External Affairs and Customer Relations since 2009 and previously held various management roles at Unitil. The Chairman of Unitil, Thomas P. Meissner, Jr., thanked Mr. Black for his dedicated service and noted his impact in developing a strong leadership team for the company's future.
Unitil Corporation (NYSE: UTL) has announced the release date for its fourth quarter 2022 earnings, scheduled for February 14, 2023, prior to market opening. The company will hold a conference call and webcast to discuss the results at 2:00 p.m. (ET) on the same day. Interested parties can access the call through registration on the company’s Investors page. Unitil Corporation delivers natural gas and electricity in New England, serving approximately 108,100 electric customers and 87,500 natural gas customers across Maine, New Hampshire, and Massachusetts.
Unitil Corporation (NYSE: UTL) announced a quarterly dividend increase to $0.405 per share, up by $0.015, resulting in an annualized dividend of $1.62. This dividend will be payable on February 28, 2023, to shareholders of record as of February 14, 2023. Unitil, serving over 108,100 electric and 87,500 natural gas customers in New England, remains committed to safe and reliable energy delivery. The increase reflects confidence in the company's financial health and commitment to returning value to shareholders.
Unitil Corporation (NYSE: UTL) reported a net income of $0.5 million or $0.03 EPS for Q3 2022, consistent with Q3 2021. For the nine months ending September 30, 2022, net income reached $26.9 million, up by $5.3 million from the prior year. Electric and Gas GAAP Gross Margins for Q3 were $21.5 million and $10.9 million, respectively. Customer growth contributed to increased electric margins. However, gas margins decreased in Q3 due to higher depreciation costs. The company maintains a dividend of $0.39 per share, reflecting its commitment to consistent shareholder returns.
Unitil Corporation (NYSE:UTL) has appointed Dr. Neveen F. Awad to its Board of Directors as part of succession planning amid upcoming retirements. Dr. Awad, currently a managing director at the Boston Consulting Group, will stand for election by shareholders in April 2023. She brings a wealth of expertise in digital transformation and strategic planning, enhancing the Board's skill set. Unitil serves approximately 107,700 electric and 86,600 natural gas customers across New England, with a commitment to reliable energy delivery.
Unitil Corporation (NYSE:UTL) announced a quarterly dividend of $0.39 per share, payable on November 28, 2022, to shareholders of record on November 14, 2022. This results in an annualized dividend rate of $1.56 per share. Unitil provides reliable energy services across New England, serving approximately 107,700 electric and 86,600 natural gas customers.
Unitil Corporation (NYSE: UTL) will release its third quarter 2022 earnings on November 1, 2022, before the market opens. A conference call and webcast to discuss the results will be held at 10:00 a.m. (ET) the same day. Unitil provides energy services in New England, serving approximately 107,700 electric customers and 86,600 natural gas customers. Key materials related to the earnings report will be accessible on the Company’s Investors page ahead of the call. For more details, visit unitil.com.
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