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Unitil (UTL) investor relations material
Unitil Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Adjusted net income for 2025 was $53.3 million ($3.16 EPS), up 6.4% year-over-year, reaching the upper half of long-term guidance range.
Expanded gas operations in Maine through acquisitions of Bangor Natural Gas and Maine Natural Gas, now serving about 90% of Maine's natural gas customers.
Achieved strong operational performance in electric reliability, gas safety, and customer satisfaction.
Electric rate case in New Hampshire is progressing, with constructive settlement discussions and a temporary rate increase effective July 2025.
Growth driven by higher rates and continued customer expansion.
Financial highlights
Adjusted net income increased by $5.5 million and adjusted EPS by $0.19 compared to 2024.
Electric adjusted gross margin rose to $114.6 million, up $7.3 million year-over-year.
Gas adjusted gross margin reached $199.1 million, up $32.2 million, with $16.6 million from Maine acquisitions.
Operation and maintenance expenses increased $14.9 million, with $4.2 million from acquired companies.
Interest expense increased $7.4 million due to higher debt levels from acquisitions.
Outlook and guidance
2026 earnings guidance set at $3.20-$3.36 per share, midpoint $3.28, representing 6.1% growth over 2025 guidance midpoint.
Reaffirmed long-term EPS and dividend growth target of 5%–7% annually.
Announced annualized dividend for 2026 of $1.90 per share, up 5.6% from 2025.
Five-year capital plan of $1.2 billion supports long-term rate base growth of 6.5%–8.5%.
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