Exhibit 99.1
Unitil Reports 2026 Second Quarter Earnings
Successfully completed the purchase of Aquarion Water Company of New Hampshire, Inc. and Abenaki Water Co., Inc.
Hampton, N.H., AUGUST 3, 2026 -- Unitil Corporation (NYSE: UTL) (unitil.com) (Unitil or the Company) today announced Net Income of $4.7 million, or $0.26 in Earnings Per Share (EPS) for the second quarter of 2026, an increase of $0.7 million in Net Income, or $0.01 in EPS, compared to the second quarter of 2025. For the six months ended June 30, 2026, the Company reported Net Income of $37.9 million, or $2.11 in EPS, an increase of $6.4 million in Net Income, or $0.17 in EPS, when compared to the first six months of 2025. 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), Aquarion Water Company of New Hampshire, Inc., and Abenaki Water Co., Inc. (the Aquarion Companies), was $5.2 million, or $0.29 in EPS. Adjusted Net Income increased $0.5 million and was unchanged in EPS when compared to the second quarter of 2025. For the six months ended June 30, 2026, 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 $39.0 million, or $2.17 in EPS, an increase of $5.9 million, or $0.14 in EPS compared to the first six months of 2025.
“The Company’s solid results through the first six months of 2026 reflect the disciplined execution of our operating and strategic priorities, and our longstanding commitment to delivering safe, reliable, and affordable service to our customers,” said Thomas P. Meissner, Jr., Unitil’s Chairman and Chief Executive Officer. “The addition of the Aquarion New Hampshire water companies marks another important milestone, strengthening our regulated utility portfolio and expanding our ability to serve customers across the region. As we continue to grow, we remain focused on strategic execution and delivering exceptional value to our customers.”
Electric GAAP Gross Margin was $23.0 million in the three months ended June 30, 2026, an increase of $5.0 million compared to the same period in 2025. Electric GAAP Gross Margin was $44.3 million in the six months ended June 30, 2026, an increase of $6.7 million compared to the same period in 2025. The three-month period increase was driven by higher rates and customer growth of $5.8 million, partially offset by higher depreciation and amortization expense of $0.8 million. The six-month period increase was driven by higher rates of $8.6
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.
