Unitil Q2 Net Income Rises to $4.7M on Higher Rates, Customer Growth
UTL sits 20% above its 52-week low of $44.608.
Summary
Unitil reported Q2 net income of $4.7 million, or $0.26 per share, up from the prior year, driven by higher electric and gas rates and customer growth. The recently closed $55.8 million acquisition of Aquarion's New Hampshire water operations contributed to revenue and expenses, expanding the regulated utility portfolio. Operating costs rose due to higher utility and labor expenses, partially offsetting gains. No forward guidance was provided, but the results confirm the rate-driven earnings trajectory seen in Q1. The stock trades near its $55 median price target with a Hold consensus.
At the time of this announcement, UTL was trading at $53.51 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $962.7M. The 52-week trading range was $44.61 to $57.26. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.