UTLNYSEElectric & Other Services CombinedUS GAAP · USD

UNITIL Corporation

Unitil Corp. is a U.S. public utility holding company headquartered in New Hampshire. Through its regulated subsidiaries, it distributes electricity and natural gas to customers in New Hampshire, Massachusetts, and Maine, and also owns a natural gas transmission pipeline and several service and real estate subsidiaries.

Kysy yhtiöstä
Liikevaihto536milj. USD
+8,3 %v/v
Liikevoitto (EBIT)101milj. USD
+11,7 %v/v
EBIT-marginaali18,9%
+0,6 %-yks.v/v
Nettotulos50,2milj. USD
+6,6 %v/v
Vapaa kassavirta−53,8milj. USD
−22,3 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2021–2025

0200400600milj. USD2021: 473 milj. USD2021: EBIT 78 milj. USD20212022: 563 milj. USD2022: EBIT 81 milj. USD20222023: 557 milj. USD2023: EBIT 87 milj. USD20232024: 495 milj. USD2024: EBIT 91 milj. USD20242025: 536 milj. USD2025: EBIT 101 milj. USD2025536101
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: UNITIL Corporation

Liiketoiminta

Osuus liikevaihdosta
Electric distribution45 %

Local delivery of electricity through Unitil Energy and Fitchburg.

Natural gas distribution45 %

Regulated gas delivery to residential, commercial, and industrial customers.

Natural gas transmission5 %

Interstate pipeline transportation and interconnection services via Granite State.

Other and shared services5 %

Centralized utility services, real estate, and non-regulated holding company activities.

Asiakkaat

Unitil serves regulated end users rather than selling into competitive wholesale markets. Its customer base is mainly residential, commercial, and industrial utility customers across its service territories, with electricity and gas delivered under state-regulated tariffs. The company also serves affiliated utilities through centralized service arrangements and provides pipeline access to its gas distribution businesses.

Residential customers

Households buying electric and/or gas delivery for everyday usage under regulated rates.

Commercial customers

Businesses, offices, and retail users that need reliable local utility service.

Industrial and municipal customers

Larger users that require dependable distribution infrastructure and tariff-based service.

Affiliated utility companies

Subsidiaries that receive centralized administrative, technical, and energy management services.

Strategia

Unitil’s strategy is centered on operating regulated local utility networks and earning returns through approved rate structures. The company also uses centralized service subsidiaries and pipeline infrastructure to support its distribution businesses and maintain a regional operating platform. Its business model depends on disciplined capital investment, regulatory relationships, and reliable service delivery across its franchise territories.

Invest in regulated utility infrastructureKeskipitkä aikaväli

Capital spending expands the rate base and supports service reliability.

Maintain regulatory recovery mechanismsLyhyt aikaväli

Tariffs and trackers are central to converting utility costs into recoverable revenue.

Support gas supply and network accessKeskipitkä aikaväli

Reliable upstream supply and transportation capacity are essential to serve customers.

Maantiede

Unitil’s operations are concentrated in the northeastern United States, primarily New Hampshire, Massachusetts, and Maine. Its utility footprint is local and regulated, with service territories centered around the seacoast and capital regions of New Hampshire, north central Massachusetts, and southern and central Maine. Granite State’s pipeline assets are primarily located in Maine and New Hampshire, reinforcing the company’s regional operating profile.

Riskit

Unitil’s business is exposed to regulatory, operational, and infrastructure risks typical of a local utility. Because earnings depend on approved rates and recoverable capital investment, changes in regulation, supply availability, or allowed returns can affect results. The company also faces physical, cyber, weather, and financing risks tied to operating electric and gas networks with significant long-lived assets.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Regulatory rate and return risk1Supply and transmission capacity risk2Operational safety and infrastructure failure3Financing and dividend constraint risk4Cyber and systems disruption5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Regulatory rate and return riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Utility earnings depend on approved tariffs, cost recovery, and allowed returns.

    Kohdistuu: Electric and gas distribution utilities

  2. Supply and transmission capacity riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The company must secure adequate electricity and gas supply plus upstream transport.

    Kohdistuu: Natural gas and electric operations

  3. Operational safety and infrastructure failureVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Leaks, explosions, electrocutions, and aging assets can cause major losses.

    KohdistuuPipelinesDistribution linesUtility equipment
  4. Financing and dividend constraint riskVaikutus: KorkeaTodennäköisyys: Matala

    Debt covenants and subsidiary distributions affect parent-level liquidity and dividends.

    Kohdistuu: Holding company and regulated subsidiaries

  5. Cyber and systems disruptionVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Operational and information systems are needed to run the network and serve customers.

    Kohdistuu: Utility operations and customer service systems

Kysy Clarifolta: UNITIL Corporation

Kirjanpito

Harkinnanvaraiset erät
Regulated revenue recognition

Electric and gas revenues include billed, unbilled, and accrued amounts under approved tariffs.

Vaikutus: Affects quarterly revenue timing and comparability

Rate adjustment mechanisms

Authorized future recoveries or credits are recognized before cash settlement.

Vaikutus: Creates regulatory assets and liabilities

Utility plant and depreciation

Long-lived distribution and pipeline assets are capitalized and depreciated over time.

Vaikutus: Drives earnings, asset base, and rate recovery

Regulatory estimates and contingencies

Commission-approved recovery of costs and disputes can require judgment.

Vaikutus: Can affect earnings and balance sheet classification

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Päivitetty: 24.9.2026