Financial Data and Key Metrics Changes - Adjusted earnings for fiscal year 2024 were $47.8 million or $2.97 per share, an increase of $0.15 per share or 5.3% over 2023 [10][62] - Consolidated return on equity was 9.4%, reflecting constructive regulatory outcomes and cost management focus [11][50] - Operating and maintenance expenses increased by $2 million or 2.6%, with a notable increase in depreciation and amortization of $8.7 million [26][68] Business Line Data and Key Metrics Changes - Electric adjusted gross margin was $107.3 million, an increase of $3.2 million compared to 2023, supported by higher distribution rates and customer growth [23][64] - Gas adjusted gross margin was $166.9 million, an increase of $12.4 million compared to 2023, with approximately 730 new gas customers added [25][65] Market Data and Key Metrics Changes - Approximately 60% of the company's gas customers were under decoupled rates by the end of 2024, which supported gas adjusted gross margin by approximately $0.28 per share [25][65] - The company added approximately 990 electric customers compared to 2023 [24][64] Company Strategy and Development Direction - The company completed the acquisition of Bangor Natural Gas, viewing it as complementary to existing operations and expected to be earnings accretive in the long run [11][50] - A five-year investment plan through 2029 totals approximately $980 million, which is 46% higher than the prior five years, aimed at growing the rate base [31][71] Management Comments on Operating Environment and Future Outlook - Management reaffirmed guidance for long-term earnings growth, dividend growth, and rate base growth, with adjusted earnings guidance for 2025 expected to be in the range of $3.01 to $3.17 per share [12][29] - The company is well-positioned to continue success and deliver on commitments to customers, communities, and shareholders [39][80] Other Important Information - The board of directors approved a quarterly dividend increase of $0.025 per share, bringing the annual dividend to $1.80 per share, a 5.9% increase from 2024 [37][78] - The company amended its revolving credit facility to increase the borrowing limit from $200 million to $275 million, extending the maturity to September 2028 [76][77] Q&A Session Summary Question: Can you walk through the strategy for the distribution rate case at UES and the customer bill impact? - Management indicated that customer billing impacts will not be known until the case is filed, expected in the second quarter of 2025 [85][87] Question: Regarding the five-year capital plan, how should equity issuance timing be considered? - Management stated that while 13% of the capital plan will come from equity, there are no immediate plans for equity issuance [89][90]

Unitil (UTL) came out with quarterly earnings of $0.97 per share, beating the Zacks Consensus Estimate of $0.95 per share. This compares to earnings of $0.97 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.11%. A quarter ago, it was expected that this utility would post earnings of $0.01 per share when it actually produced earnings of $0.02, delivering a surprise of 100%.Over the last four quarters, the company has surpassed ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-8858 UNITIL CORPORATION (Exact name of registrant as specified in its charter) New Hampshire 02-0381573 (State or other jurisdiction of incorpora ...

Core Viewpoint - Unitil Corporation reported strong financial performance for the year ended December 31, 2024, with increases in both GAAP Net Income and Adjusted Net Income compared to 2023, driven by higher rates and customer growth [1][2][3]. Financial Performance - GAAP Net Income for 2024 was $47.1 million, or $2.93 per share, an increase of $1.9 million or $0.11 per share from 2023 [1]. - Adjusted Net Income was $47.8 million, or $2.97 per share, reflecting an increase of $2.6 million or $0.15 per share compared to 2023 [1]. - Electric GAAP Gross Margin was $78.0 million, a slight decrease of $0.1 million from 2023, primarily due to higher depreciation and amortization expenses [2]. - Electric Adjusted Gross Margin increased to $107.3 million, up $3.2 million from 2023, driven by higher rates and customer growth [3]. - Gas GAAP Gross Margin rose to $120.1 million, an increase of $6.0 million compared to 2023, supported by higher rates and customer growth [5]. - Gas Adjusted Gross Margin was $166.9 million, reflecting a $12.4 million increase from 2023, also attributed to higher rates and customer growth [5]. Expenses and Costs - Operation and Maintenance (O&M) expenses increased by $2.0 million in 2024, mainly due to higher labor costs [6]. - Depreciation and Amortization expenses rose by $8.7 million, reflecting higher depreciation rates and additional depreciation from increased utility plant in service [6]. - Taxes Other Than Income Taxes increased by $1.4 million, driven by higher local property taxes and payroll taxes [7]. - Interest Expense, Net increased by $0.6 million, primarily due to higher interest on long-term debt [7]. Dividend Information - The annual common dividend for 2024 was $1.70 per share, with a quarterly dividend declared at $0.45 per share in January 2025, increasing the annualized dividend rate to $1.80 per share [10]. Customer Metrics - Unitil serves approximately 109,400 electric customers and, following the acquisition of Bangor Natural Gas Company, approximately 97,600 natural gas customers [13].

HAMPTON, N.H., Jan. 31, 2025 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE:UTL) (unitil.com) today announced that it completed the purchase of Bangor Natural Gas Company ("Bangor"), from PHC Utilities, Inc., a subsidiary of Hope Utilities, Inc. The Stock Purchase Agreement (the "Agreement") between PHC Utilities, Inc. and Unitil was first announced on July 8, 2024. All conditions of the Agreement, including the receipt of approvals from the Maine Public Utilities Commission, were completed as of the closing ...

Core Viewpoint - Unitil Corporation (UTL) has announced a 5.9% increase in its quarterly dividend, raising it from 42.5 cents to 45 cents per share, payable on February 28, 2025, to stockholders of record as of February 13, 2025 [1] Dividend and Financial Metrics - The annualized dividend is now $1.80 per share, up from the previous $1.70, with a target annual dividend payout ratio of 55-65% [2] - The current dividend yield stands at 3.17%, significantly higher than the Zacks S&P 500 composite average of 1.19% [2] Growth and Investment Strategy - The company is projected to invest $910 million in capital projects through 2028, which is nearly 47% higher than the previous five years [4] - UTL's capital investments focus on upgrading metering infrastructure to enhance system utilization and customer end-use, with expected long-term rate base growth of 6.5-8.5% driven by these expenditures [4] - Ongoing interest rate cuts are anticipated to lower capital servicing costs, thereby increasing margins and profitability [4] Operational Efficiency - UTL is implementing cost control initiatives, expecting operation and maintenance expenses to grow at or below inflation, which should enhance margins over the long term [6] - The company projects an 8-10% annual total shareholder return, indicating strong growth prospects and the ability to sustain shareholder-friendly initiatives [6] Industry Context - Utility companies typically exhibit stable operations and earnings, allowing them to provide regular dividends to shareholders [7] - Recent dividend increases from other utility companies include NiSource (5.7%), ONE Gas (1%), and WEC Energy Group (6.9%) [7] Stock Performance - Over the past year, UTL's shares have increased by 12.9%, compared to the industry's growth of 16.8% [9]

HAMPTON, N.H., Jan. 29, 2025 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE:UTL) (unitil.com) today announced that its Board of Directors raised the quarterly dividend on the Company’s common stock to $0.45 per share, an increase of $0.025 per share. Today’s action increased the Company’s annualized dividend by $0.10, to $1.80 per share. Also today, the Board declared the first quarter common stock dividend of $0.45 per share, payable February 28, 2025, to shareholders of record on February 13, 2025. About Un ...

HAMPTON, N.H., Jan. 28, 2025 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE: UTL) (unitil.com) has scheduled the release of its fourth quarter 2024 earnings after the market closes on February 10, 2025. Unitil will host its conference call and webcast on February 11, 2025 at 10:00 a.m. (ET) to review its results. Related presentation materials will be available before the call on the Company’s Investors page at investors.unitil.com. The conference call will be broadcast live in listen-only mode on the Company ...

Unitil Corporation (NYSE:UTL) Q3 2024 Earnings Conference Call November 5, 2024 10:00 AM ET Company Participants Todd Diggins - Chief Accounting Officer and Controller Thomas Meissner - Chairman and CEO Daniel Hurstak - SVP, CFO and Treasurer Conference Call Participants Shelby Tucker - RBC Operator Good day, thank you for standing by. Welcome to the Q3 2024 Unitil Earnings Conference call. At this time, all participants are in a listen-only mode. Please be advised that today's conference is being recorded. ...

Financial Data and Key Metrics Changes - The company reported breakeven results for Q3 2024, with net income for the first nine months at $31.5 million, or $1.96 per share, an increase of $0.11 per share compared to the same period in 2023 [6][17] - Adjusted net income for the first nine months was $32.1 million, or $2 per share, reflecting strong operational performance and disciplined cost management [8] Business Line Data and Key Metrics Changes - Electric adjusted gross margin was $81.7 million for the nine months ended September 30, 2024, an increase of $1.6 million compared to the same period in 2023, driven by higher distribution rates and customer growth [19] - Gas adjusted gross margin was $115.6 million for the nine months ended September 30, 2024, an increase of $9.2 million compared to the same period in 2023, also reflecting higher distribution rates and customer growth [20] Market Data and Key Metrics Changes - The company added approximately 1,100 new electric customers and 720 new gas customers compared to the same period in 2023 [19][20] - Approximately 60% of the company's gas customers are under decoupled rates, which supported gas margin by approximately $0.20 per share [20] Company Strategy and Development Direction - The company reaffirmed long-term earnings growth of 5% to 7%, supported by rate-based growth in the range of 6.5% to 8.5% [7] - A significant shift towards electric investments is anticipated, particularly in Massachusetts, as the company completes pipeline replacement programs on the gas side [36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that full-year earnings will remain within long-term guidance, with a strong investment outlook and projected capital spending through 2028 totaling approximately $910 million [6][27] - The company is focused on sustainability, aiming for a 50% reduction in greenhouse gas emissions by 2030 and net zero emissions by 2050 [10] Other Important Information - The company filed an uncontested rate case settlement with FERC, requesting a $3 million annual revenue increase for Granite State Gas Transmission, representing a 30% increase to current revenues [24] - The acquisition of Bangor Natural Gas is expected to close by the end of Q1 2025, complementing the company's existing operations in Maine [26] Q&A Session Summary Question: Breakdown of capital spending program by asset class - Management indicated a shift towards electric investments, especially in Massachusetts, with a current mix of about two-thirds gas and one-third electric for rate base [38] Question: Impact of state policies on rate-based growth target - Management noted that there is potential upside to the 6.5% to 8.5% rate-based growth target due to new policies, particularly in Massachusetts [40]