Logo

UTL

Unitil Corporation

UTL

Unitil Corporation • NYSE
$50.23 ▼ -0.18% (-0.09)
Market Cap $821.24 M
52w High $60.48
52w Low $44.61
Dividend Yield 1.80%
P/E 17.62
Volume 64.73K
Outstanding Shares 16.35M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $101.1M ▼ $8.6M ▼ $-300K ▼ -0.297% ▼ $-0.018 ▼ $31.3M ▼
Q2-2025 $102.6M ▼ $28.4M ▼ $4M ▼ 3.899% ▼ $0.25 ▼ $37.2M ▼
Q1-2025 $170.8M ▲ $29.6M ▲ $27.5M ▲ 16.101% ▲ $1.69 ▲ $69.4M ▲
Q4-2024 $127.5M ▲ $28.2M ▲ $15.6M ▲ 12.235% ▲ $0.97 ▲ $50.1M ▲
Q3-2024 $92.9M $26.9M $0 0% $0 $25.459M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $14.6M ▲ $1.945B ▲ $1.347B ▼ $597.2M ▲
Q2-2025 $8.5M ▼ $1.893B ▲ $1.36B ▲ $532.8M ▼
Q1-2025 $10.2M ▲ $1.891B ▲ $1.357B ▲ $534.1M ▲
Q4-2024 $6.3M $1.794B ▲ $1.282B ▲ $512.5M ▲
Q3-2024 $6.3M $1.737B $1.235B $502.4M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-300K ▼ $15.6M ▼ $-54.6M ▼ $45.1M ▲ $6.1M ▲ $-39M ▼
Q2-2025 $4M ▼ $42.2M ▼ $-40.4M ▲ $-3.5M ▼ $-1.7M ▼ $2M ▼
Q1-2025 $27.5M ▲ $52.1M ▲ $-103.8M ▼ $55.6M ▲ $3.9M ▲ $19.5M ▲
Q4-2024 $15.6M ▲ $23.3M ▼ $-55.6M ▲ $32.3M ▼ $0 ▼ $-32.3M ▼
Q3-2024 $0 $26.1M $-57.4M $34.8M $3.5M $-31.3M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Gas
Gas
 $110.00M ▲$110.00M ▲$50.00M ▼$40.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Over the past several years, Unitil has shown a pattern of gradually improving profitability, even as revenue has flattened and dipped recently. Margins have slowly widened, meaning the company is turning a larger share of its revenue into operating profit and net income. Earnings per share have trended upward steadily, which suggests good cost control and successful recovery of investments through regulated rates. The main watchpoint is that revenue can be influenced by weather, fuel costs, and regulatory timing, so the smoother earnings trend may not always perfectly match the revenue line.

Balance Sheet

Balance Sheet Unitil’s asset base has been climbing, reflecting continued investment in its electric and gas networks. Debt has increased alongside those investments, while shareholder equity has also grown, which points to a more built-out but also more leveraged balance sheet. This profile is typical for a regulated utility: heavy long‑lived infrastructure financed with a mix of debt and equity. The key question going forward is whether regulators continue to allow timely recovery of these investments so that the added leverage remains comfortable.

Cash Flow

Cash Flow Cash generated from day‑to‑day operations has been gradually rising, signaling a stable, utility‑like cash engine. However, free cash flow has been consistently negative because Unitil is spending heavily on capital projects such as grid and gas system upgrades. This means the company relies on external financing—mainly debt and possibly equity—to fund growth and modernization. That strategy can work well for a regulated utility, but it does make Unitil sensitive to interest rates, capital market conditions, and regulatory support for its spending plans.

Competitive Edge

Competitive Edge Unitil benefits from the classic advantages of a regulated utility: it has exclusive service territories and a predictable, rules‑based framework for earning returns. Its footprint across parts of New Hampshire, Massachusetts, and Maine gives it a stable, captive customer base with very limited direct competition in wires and pipes. The main competitive pressures are indirect: evolving regulation, public policy around decarbonization, and customer expectations for reliability and clean energy. As a relatively smaller regional utility, Unitil does not have the scale of national players, but it can be more focused and locally responsive, which can help with regulators and customers alike.

Innovation and R&D

Innovation and R&D Unitil is leaning into grid modernization rather than simply maintaining the status quo. Its investments in advanced meters, smart grid control systems, and battery storage pilots are designed to improve reliability, integrate more solar and other distributed resources, and prepare for growing electric vehicle and electrified heating loads. The company is also modernizing its gas system and using data and analytics to run the network more efficiently. On the customer side, programs for EV charging, energy efficiency, and renewable interconnections, plus more flexible rate designs, position Unitil as a relatively progressive utility for its size. The opportunity is to turn these projects into long‑term growth and regulatory goodwill, while the risk is cost overruns or slower‑than‑expected approval and recovery of these investments.

Summary

Overall, Unitil presents as a classic regulated utility with a steady earnings profile, a growing infrastructure base, and a deliberate push into smarter, cleaner energy delivery. Profitability has gradually improved even when revenue has been uneven, supported by regulation and cost discipline. The balance sheet and cash flow statement both reflect an asset‑heavy, investment‑driven model funded by rising debt and ongoing capital spending. Competitively, its regulated monopoly territories provide a strong moat, while its innovation agenda—smart grid, battery storage, EV and efficiency programs—aims to keep it aligned with the energy transition. The central questions for the future are execution and regulation: how well Unitil delivers these projects and how constructively regulators allow it to earn returns on its growing rate base.

NEWS

November 3, 2025 · 5:00 PM UTC

Unitil Releases Corporate Sustainability and Responsibility Report

Read more

November 3, 2025 · 4:45 PM UTC

Unitil Reports Third Quarter Earnings

Read more

October 31, 2025 · 4:30 PM UTC

Unitil Completes Purchase of Maine Natural Gas Company

Read more

October 29, 2025 · 4:30 PM UTC

Unitil Declares Common Stock Dividend

Read more

October 21, 2025 · 6:45 AM UTC

Unitil Schedules Third Quarter 2025 Earnings Release and Conference Call

Read more