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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) has announced the release date for its fourth quarter 2020 earnings, set for February 2, 2021, before market opening. Following this, a conference call will be held at 2:00 p.m. (ET) to discuss the results. Interested parties can access the call via a toll-free number and the event will be available for replay afterwards. Unitil operates in New England, serving approximately 107,100 electric and 85,600 natural gas customers, focusing on reliable energy delivery and community involvement.
Unitil Corporation (NYSE: UTL) reported a Net Income of $0.3 million, or $0.02 EPS, for Q3 2020, down $2.0 million from Q3 2019 due to lower sales margins and increased operating costs. For the nine months ending September 30, 2020, Net Income reached $18.6 million, a decline of $14.2 million year-over-year. Factors impacting earnings included warmer winter weather and the economic slowdown from the COVID-19 pandemic. Total gas and electric gross margins decreased, while sales to residential customers rose due to pandemic-related stay-at-home orders, reflecting customer growth.
Unitil Corporation (NYSE: UTL) declared a quarterly dividend of $0.375 per share, payable on November 30, 2020, to shareholders of record on November 16, 2020. This results in an annualized dividend rate of $1.50 per share. Unitil provides energy services across New England, serving approximately 106,100 electric and 83,900 natural gas customers, focusing on reliable energy delivery and community commitment.
Unitil Corporation (NYSE: UTL) announced its upcoming third quarter 2020 earnings release scheduled for October 29, 2020, before market opens. A conference call will take place the same day at 2:00 p.m. (ET) to discuss the results. Interested parties can participate via a toll-free call or through a live webcast on the Company’s Investors page. Unitil serves approximately 106,100 electric and 83,900 natural gas customers in New England, emphasizing commitment to reliable energy delivery and community service.
Unitil Corporation (NYSE: UTL) reported a net income of $3.1 million, or $0.21 EPS, for Q2 2020, down from $4.0 million, or $0.27 EPS, in Q2 2019. For the first half of 2020, net income was $18.3 million, or $1.23 EPS, a decrease from $30.5 million, or $2.05 EPS, in 2019. This drop is attributed to lower gas sales margins, warmer weather impacting sales, and economic slowdowns due to COVID-19. Gas and Electric Gross Margins totaled $15.5 million and $16.5 million for Q2, with operational expenses reduced by $1.3 million. The company declared a quarterly dividend of $0.375 per share.
Unitil Corporation (NYSE: UTL) has declared a quarterly dividend of $0.375 per share, set to be paid on August 28, 2020, to shareholders of record by August 14, 2020. This results in an effective annualized dividend rate of $1.50 per share. Unitil provides energy solutions across New England, serving approximately 106,100 electric and 83,900 natural gas customers, demonstrating its commitment to reliable energy delivery.
Unitil Corporation (NYSE: UTL) will release its second quarter 2020 earnings on July 30, 2020, before market opening. A conference call to discuss the results is scheduled for the same day at 2:00 p.m. (ET). Investors can access the live broadcast on Unitil's Investor Relations page with archived materials available for one year. Unitil provides reliable natural gas and electricity in New England, serving approximately 106,100 electric and 83,900 natural gas customers.
Unitil Corporation (NYSE:UTL) announced the hiring of Robert B. Hevert as Senior Vice President, effective July 23, 2020. He is expected to be appointed CFO and Treasurer at the Board's meeting on July 29, 2020. Hevert has a strong background in the energy and utility sectors, previously holding senior roles at ScottMadden, Sussex Economic Advisors, and Concentric Energy Advisors. Current interim CFO Laurence M. Brock will step down but remain as Senior Vice President to assist with the transition.
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