Unitil Corporation

Unitil Reports Year-End Earnings

Retrieved on: 
Tuesday, February 13, 2024

“As we head into 2024, we remain focused on the issues that matter most — safety, reliability, affordability and financial discipline.

Key Points: 
  • “As we head into 2024, we remain focused on the issues that matter most — safety, reliability, affordability and financial discipline.
  • The increase was driven by higher rates and customer growth of $5.3 million, partially offset by higher depreciation and amortization expense of $0.6 million.
  • Electric Adjusted Gross Margin (a non-GAAP financial measure1) was $104.1 million in 2023, an increase of $5.3 million compared with 2022.
  • The Company’s earnings are seasonal and are typically higher in the first and fourth quarters when customers use natural gas for heating purposes.

Unitil Increases Common Stock Dividend

Retrieved on: 
Wednesday, January 31, 2024

HAMPTON, N.H., Jan. 31, 2024 (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 $0.425 per share, an increase of $0.02 per share.

Key Points: 
  • HAMPTON, N.H., Jan. 31, 2024 (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 $0.425 per share, an increase of $0.02 per share.
  • Today’s action increased the Company’s annualized dividend by $0.08, to $1.70 per share.
  • Also today, the Board declared the first quarter common stock dividend of $0.425 per share, payable February 29, 2024, to shareholders of record on February 14, 2024.

Unitil Schedules Fourth Quarter 2023 Earnings Release and Conference Call

Retrieved on: 
Tuesday, January 30, 2024

HAMPTON, N.H., Jan. 30, 2024 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE: UTL) ( unitil.com ) has scheduled the release of its fourth quarter 2023 earnings before the market opens on February 13, 2024.

Key Points: 
  • HAMPTON, N.H., Jan. 30, 2024 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE: UTL) ( unitil.com ) has scheduled the release of its fourth quarter 2023 earnings before the market opens on February 13, 2024.
  • Unitil will host its conference call and webcast later that day 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 .

Unitil Announces Director Resignation

Retrieved on: 
Friday, December 1, 2023

HAMPTON, N.H., Dec. 01, 2023 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE: UTL) ( unitil.com ) today announced that Eben S. Moulton will resign as a member of the Board of Directors (the “Board”) of Unitil Corporation, effective as of today, December 1, 2023.

Key Points: 
  • HAMPTON, N.H., Dec. 01, 2023 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE: UTL) ( unitil.com ) today announced that Eben S. Moulton will resign as a member of the Board of Directors (the “Board”) of Unitil Corporation, effective as of today, December 1, 2023.
  • Mr. Moulton has served on the Board since 2000, including as chair of the Compensation Committee from 2002 to 2017.
  • Mr. Moulton elected to resign from the Board prior to the expiration of his current term in April 2025 in order to pursue additional personal interests in his retirement years.
  • Mr. Moulton earned a Bachelor of Arts degree from Colorado College, a Master of Business Administration from Columbia University, and a Ph.D. from Vanderbilt University.

Unitil Reports Third Quarter Earnings

Retrieved on: 
Tuesday, November 7, 2023

HAMPTON, N.H., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE: UTL) ( unitil.com ) today announced Net Income of $1.4 million, or $0.09 in Earnings Per Share (EPS) for the third quarter of 2023, an increase of $0.9 million in Net Income, or $0.06 in EPS, compared to the third quarter of 2022.

Key Points: 
  • HAMPTON, N.H., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE: UTL) ( unitil.com ) today announced Net Income of $1.4 million, or $0.09 in Earnings Per Share (EPS) for the third quarter of 2023, an increase of $0.9 million in Net Income, or $0.06 in EPS, compared to the third quarter of 2022.
  • The Company’s Electric and Gas GAAP Gross Margins for the third quarter of 2023 were $22.6 million and $12.3 million, respectively.
  • The Company’s earnings historically have been seasonal and typically have been higher in the first and fourth quarters when customers use natural gas for heating purposes.
  • The Company will hold a quarterly conference call to discuss third quarter 2023 results on Tuesday, November 7, 2023, at 10:00 a.m. Eastern Time.

Unitil Releases Corporate Sustainability and Responsibility Report

Retrieved on: 
Tuesday, October 31, 2023

HAMPTON, N.H., Oct. 31, 2023 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE:UTL) ( unitil.com ) today released its 2023 Corporate Sustainability and Responsibility Report (the “CSR” or the “Report”).

Key Points: 
  • HAMPTON, N.H., Oct. 31, 2023 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE:UTL) ( unitil.com ) today released its 2023 Corporate Sustainability and Responsibility Report (the “CSR” or the “Report”).
  • The Report highlights the Company’s 2022 successes as well as continuing initiatives into 2023, and outlines progress toward its commitment to environmental sustainability, human capital management, safety and reliability, and customer engagement.
  • “We are pleased to highlight the key initiatives that demonstrate our deep commitment to the sustainability of our Company, our communities, and our planet,” said Thomas P. Meissner, Jr., Unitil’s Chairman and Chief Executive Officer.
  • To view Unitil’s CSR and learn more about Unitil’s sustainability initiatives, please visit:

Copenhagen Infrastructure Partners and Avangrid Announce Largest Single Asset Tax Equity Financing and First Large-Scale Offshore Transaction in the U.S.

Retrieved on: 
Wednesday, October 25, 2023

The $1.2 billion dollar investment transaction was reached with J.P. Morgan Chase, Bank of America and Wells Fargo, making it the largest single asset tax equity financing and the first for a commercial scale offshore wind project.

Key Points: 
  • The $1.2 billion dollar investment transaction was reached with J.P. Morgan Chase, Bank of America and Wells Fargo, making it the largest single asset tax equity financing and the first for a commercial scale offshore wind project.
  • “Closing on a tax equity package has always been a central element to achieving financial success for the first-of-its-kind Vineyard Wind 1,” said Tim Evans, partner and Head of North America for CIP.
  • “Finalizing this tax equity transaction is a critical milestone in executing the financing plan for Vineyard Wind 1.
  • Vineyard Wind 1 began on-site construction in late 2021, achieved steel-in-the-water in June 2023, and completed the nation’s first offshore substation in July 2023.

Unitil Schedules Third Quarter 2023 Earnings Release and Conference Call

Retrieved on: 
Tuesday, October 24, 2023

HAMPTON, N.H., Oct. 24, 2023 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE: UTL) ( unitil.com ) has scheduled the release of its third quarter 2023 earnings before the market opens on November 7, 2023.

Key Points: 
  • HAMPTON, N.H., Oct. 24, 2023 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE: UTL) ( unitil.com ) has scheduled the release of its third quarter 2023 earnings before the market opens on November 7, 2023.
  • Unitil will host its conference call and webcast later that day at 10:00 a.m. (ET) to review its quarterly results.
  • Related presentation materials will be available before the call on the Company’s Investors page at investors.unitil.com .

Unitil Declares Common Stock Dividend

Retrieved on: 
Monday, October 23, 2023

HAMPTON, N.H., Oct. 23, 2023 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE:UTL) ( unitil.com ) today announced that its Board of Directors declared the regular quarterly dividend on the Company’s common stock of $0.405 per share, payable November 28, 2023, to shareholders of record on November 14, 2023.

Key Points: 
  • HAMPTON, N.H., Oct. 23, 2023 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE:UTL) ( unitil.com ) today announced that its Board of Directors declared the regular quarterly dividend on the Company’s common stock of $0.405 per share, payable November 28, 2023, to shareholders of record on November 14, 2023.
  • This quarterly dividend results in a current effective annualized dividend rate of $1.62 per share.

Avangrid and Copenhagen Infrastructure Partners Announce Largest Single Asset Tax Equity Financing and First Large-Scale Offshore Transaction in the U.S.

Retrieved on: 
Wednesday, October 25, 2023

The $1.2 billion investment transaction was reached with J.P. Morgan Chase, Bank of America and Wells Fargo, making it the largest single asset tax equity financing and the first for a commercial scale offshore wind project.

Key Points: 
  • The $1.2 billion investment transaction was reached with J.P. Morgan Chase, Bank of America and Wells Fargo, making it the largest single asset tax equity financing and the first for a commercial scale offshore wind project.
  • View the full release here: https://www.businesswire.com/news/home/20231025424208/en/
    “We are continuing to make history with this first-in-the-nation project,” said Pedro Azagra, Avangrid CEO.
  • “Finalizing this tax equity transaction is a critical milestone in executing the financing plan for Vineyard Wind 1.
  • Vineyard Wind 1 began on site construction in late 2021, achieved steel-in-the-water in June 2023, and completed the nation’s first offshore substation in July 2023.