Exhibit 99.1
FOR RELEASE
Unitil Reports Second Quarter Earnings
Hampton, N.H., AUGUST 4, 2025 -- Unitil Corporation (NYSE: UTL) (unitil.com) today announced Net Income of $4.0 million, or $0.25 in Earnings Per Share (EPS) for the second quarter of 2025, a decrease of $0.3 million in Net Income, or $0.02 in EPS, compared to the second quarter of 2024. For the six months ended June 30, 2025, the Company reported Net Income of $31.5 million, or $1.94 in EPS. Net income is unchanged and EPS decreased $0.02 when compared to the first six months of 2024. The Company's Adjusted Net Income (a non-GAAP financial measure1), which excluded transaction-related costs in connection with the acquisition of Bangor Natural Gas Company (Bangor), Maine Natural Gas Company (Maine Natural) and Aquarion Water Company of Massachusetts, Inc., Aquarion Water Company of New Hampshire, Inc., and Abenaki Water Co., Inc. (the Aquarion Companies), was $4.7 million, or $0.29 in EPS, for the second quarter of 2025, an increase of $0.4 million, or $0.02 in EPS, compared to the second quarter of 2024. For the six months ended June 30, 2025, the Company's Adjusted Net Income, which excluded transaction-related costs in connection with the acquisition of Bangor, Maine Natural and the Aquarion Companies, was $33.1 million, or $2.03 in EPS, an increase of $1.6 million, or $0.07 in EPS compared to the first six months of 2024.
“Unitil once again delivered strong financial results reflecting our focus on operational excellence and strong customer service,” said Thomas P. Meissner, Jr., Unitil’s Chairman and Chief Executive Officer. “We continue to execute on all elements of our long-term strategy, even as we capitalize on opportunistic utility acquisitions. Our regulatory initiatives, financial discipline, and best-in-class customer service will continue to drive long-term sustainable value for all stakeholders.”
Electric GAAP Gross Margin was $18.0 million in the three months ended June 30, 2025, an increase of $0.2 million compared to the same period in 2024. Electric GAAP Gross Margin was $37.6 million in the six months ended June 30, 2025, a decrease of $0.3 million compared to the same period in 2024. The three month period increase was driven by higher rates and customer growth of $0.9 million, partially offset by higher depreciation and amortization expense of $0.7 million. The six month period decrease was driven by higher
1 The accompanying Supplemental Information more fully describes the non-GAAP financial measures used in this press release and includes a reconciliation of the non-GAAP financial measures to the financial measures that the Company’s management believes are the most comparable GAAP financial measures. The Supplemental Information also includes a discussion of the changes in the most comparable GAAP financial measures for the periods presented.