Unitil Q2 Earnings Rise on Rate Hikes, Closes Aquarion Water Acquisition
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 $4.0 million a year ago, driven by rate increases and customer growth. The company also closed its acquisition of Aquarion's New Hampshire water operations, adding 10,700 water customers.
Key Events · Earnings and Guidance · UTL
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Q2 Earnings Rise on Rate Hikes
Net income of $4.7M ($0.26/share) vs $4.0M ($0.25/share) a year ago. Adjusted net income of $5.2M ($0.29/share) excludes $0.5M in acquisition costs.
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Aquarion Water Acquisition Closes
Completed the $42.6M purchase of Aquarion Water Company of New Hampshire and Abenaki Water Co., adding 10,700 water customers and entering the regulated water utility business.
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Rate Case Momentum
Unitil Energy received a $13.0M permanent rate increase effective May 1, 2026. Northern Utilities filed for $10.4M (Maine) and $9.8M (New Hampshire) rate increases.
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FERC ROE Reduction Impact
FERC reduced the allowed ROE for transmission owners from 10.57% to 9.57%, resulting in a $0.9M charge for Fitchburg in Q1 2026. The new ROE applies going forward.
Analysis · UTL · Energy & Transportation
Unitil's second-quarter results show modest earnings growth driven by higher electric and gas rates and customer additions. The company completed its $42.6 million acquisition of two New Hampshire water utilities, expanding into a new regulated service. Rate case activity across multiple jurisdictions supports future revenue, but higher interest expense and a FERC ROE reduction create headwinds. The quarter reflects steady execution of a regulated growth strategy, with the water acquisition marking a new chapter.
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At the time of this filing, 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 filing was assessed with positive market sentiment and an importance score of 7 out of 10.