Unitil Earnings Call Transcripts
Fiscal Year 2026
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Strong first-half 2026 results featured 7% adjusted net income growth, robust customer satisfaction, and successful expansion with the Aquarion Water acquisition. Guidance for 2026 and long-term growth was reaffirmed, with continued investment in infrastructure and favorable market conditions supporting future performance.
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Q1 2026 adjusted net income rose 8% year-over-year, driven by successful gas acquisitions and higher rates. Guidance for 2026 EPS and long-term growth was reaffirmed, with strong rate base and dividend growth. Regulatory and acquisition developments remain key watch items.
Fiscal Year 2025
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Adjusted 2025 earnings rose 6.4% year-over-year, driven by Maine gas acquisitions and customer growth. 2026 EPS guidance is $3.20-$3.36, with a 5.6% dividend increase and a $1.2 billion capital plan through 2030.
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Adjusted net income and EPS rose year-over-year, driven by customer growth, higher rates, and recent acquisitions. The company reaffirmed its 2025 guidance and expects accelerated rate-based and earnings growth, supported by a strengthened balance sheet and ongoing capital investments.
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Q2 2025 adjusted net income rose to $4.7M, with strong year-over-year growth in both electric and gas segments. Acquisitions and infrastructure investments are on track, supporting reaffirmed 2025 earnings and dividend guidance.
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Q1 2025 adjusted net income rose to $28.4M with EPS of $1.74, driven by customer growth and recent acquisitions. Guidance for 2025 is reaffirmed, with acquisitions expected to accelerate long-term earnings and rate base growth.
Fiscal Year 2024
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Adjusted earnings rose 5.3% to $47.8 million in 2024, driven by higher rates and customer growth. A $980 million five-year capital plan supports 6.5%–8.5% rate base growth, with 2025 EPS guidance of $3.01–$3.17 and a 5.9% dividend increase.
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Q3 2024 saw break-even results, with nine-month net income up year-over-year and adjusted EPS at $2. Capital spending is projected at $910 million through 2028, with growth shifting toward electric investments and continued focus on sustainability and regulatory execution.
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Second quarter net income rose to $4.3 million, with strong first-half results and customer growth in both electric and gas segments. The company reaffirmed long-term earnings growth targets and announced the acquisition of Bangor Natural Gas, supporting future expansion.