Key Highlights

  • UTL reported third-quarter 2026 Revenue of $112.6 million, up from $101.1 million a year earlier.
  • Net loss for the quarter was $1.5 million, or $0.08 per share, versus a smaller loss a year ago.
  • Nine-month Net Income rose $5.2 million to $36.4 million, or $2.02 per share.
  • Operating cash flow for the first nine months reached $140.8 million, up from $109.9 million.
  • The board kept its quarterly Dividend at $0.475 per share, an annualized $1.90.

Wider Third-Quarter Loss Follows Higher Interest and Operating Costs

Unitil (NYSE:UTL) disclosed results for the third quarter ended Sep 30, 2026 in its quarterly filing dated Nov 2, 2026. Revenue was $112.6 million, up from $101.1 million a year earlier, an increase of about 11.4% (calculated). Net loss was $1.5 million, or $0.08 per share, a decline of $1.2 million, or $0.06 per share, from the prior-year quarter.

Adjusted net loss, which excludes Transaction Costs tied to recent acquisitions, was $0.7 million, or $0.04 per share, a decline of $1.1 million from last year. Operating Income slipped to $6.8 million from $7.0 million, while net interest expense rose to $11.0 million from $8.9 million on higher short-term borrowings and long-term debt.

Unitil is a public Utility Holding Company that distributes electricity, Natural Gas and water in New Hampshire, Massachusetts and Maine. Its utilities serve about 110,100 electric customers, 105,000 gas customers and 10,700 water customers.

Gas and Electric Margins Grow, but Operating Expenses Climb Faster

Electric Operating Revenue rose 6.7% to $68.6 million, and electric adjusted gross Margin increased $1.7 million to $34.8 million on higher rates and customer growth. Gas revenue rose 11.1% to $40.9 million, with gas adjusted gross margin up $2.6 million to $29.2 million, including $1.8 million from the Maine gas utility acquired on Oct 31, 2025.

Operation and maintenance expense increased $4.9 million to $26.8 million, and Depreciation and amortization rose $2.6 million to $24.8 million. The filing notes that gas results are seasonal, with the first and fourth quarters historically the strongest.

Water Acquisition Adds $3.1 Million of Revenue; Nine-Month Profit Still Higher

Unitil closed its purchase of two New Hampshire water utilities on Jun 30, 2026 for $42.6 million, adding service in eight communities. The water Business contributed $3.1 million of revenue in the quarter, with no comparable amount in 2025.

For the nine months ended Sep 30, 2026, net income rose $5.2 million to $36.4 million, or $2.02 per share, up $0.13. Adjusted net income was $38.3 million, or $2.12 per share. Nine-month revenue reached $446.5 million versus $374.5 million, about 19.2% higher (calculated).

Rate Cases, October Financings and a Steady $0.475 Dividend Frame the Next Quarter

Operating cash flow was $140.8 million for the nine months, against $109.9 million a year ago, while property and equipment additions were $144.4 million. In October 2026, a utility Subsidiary issued $60.0 million of bonds, the Maine gas utility issued $40.0 million of 5.95% notes due 2031, and Unitil repaid its delayed-draw term Loan on Oct 22. Unitil also sold 328,400 shares under its at-the-market program during the nine months for $17.2 million gross, leaving $31.3 million of capacity.

Regulators approved a $3.2 million step adjustment for the New Hampshire electric utility on Aug 28, 2026, and a New Hampshire gas rate request of about $9.8 million remains pending. The board declared a $0.475 dividend on Oct 28, payable Nov 30 to holders of record on Nov 13.