Unitil (UTL) investor relations material

Executive summary

• Adjusted net income for Q2 2026 was $5.2 million ($0.29/share); year-to-date adjusted net income reached $39.0 million ($2.17/share), up 6.9% per share year-over-year.

• GAAP return on equity for the trailing twelve months was 9.6%.

• Customer satisfaction remains high at 90%, ranking best among Northeast utilities and top quartile nationally.

• Closed the acquisition of Aquarion Water Company of New Hampshire and Abenaki Water Company for $55.8 million, expanding the regulated utility portfolio.

Financial highlights

• Q2 2026 adjusted net income was $5.2 million ($0.29/share); first half 2026 adjusted net income increased by $5.9 million ($0.14/share) compared to 2025.

• Electric adjusted gross margin rose 14.8% to $61.2 million for six months; gas adjusted gross margin up 13.5% to $122.7 million year-over-year.

• Total operating revenues for Q2 2026 were $117.0 million, up 14% year-over-year; for the first six months, $333.9 million, up 22%.

• Operation and maintenance expenses increased $3.3 million for the first half, mainly due to utility operating costs and labor.

• Depreciation and amortization rose $2.4 million in Q2 and $4.0 million in six months, reflecting higher utility plant in service.

Outlook and guidance

• Reaffirmed 2026 earnings guidance of $3.20–$3.36 per share (midpoint $3.28), representing a 6.1% increase over 2025.

• Maintained long-term earnings growth guidance of 5%–7%; long-term rate base growth at 6.5%–8.5%.

• Five-year capital investment plan through 2030 totals $1.2 billion, up 24% from prior plan.

• Anticipates Aquarion New Hampshire acquisition to be earnings neutral in 2026 and accretive after new rates take effect.