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Stock impact report

Unitil Reports First Quarter Earnings

UNITIL Corporation (UTL) 
Last unitil corporation earnings: 4/30 06:45 am Check Earnings Report
Company Research Source: GlobeNewswire
HAMPTON, N.H., April 30, 2020 (GLOBE NEWSWIRE) -- Unitil Corporation (the “Company”) (NYSE: UTL) (www.unitil.com) today announced Net Income of $15.2 million, or $1.02 in earnings per share (EPS), for the first quarter of 2020, a decrease of $11.3 million in Net Income, or $0.76 per share, compared to the first quarter of 2019. In the first quarter of 2019 the Company recognized a one-time net gain of $9.8 million, or $0.66 in EPS, on the Company’s divestiture of its non-regulated business subsidiary, Usource. The decrease in earnings was also driven by lower gas operating revenue, partially offset by lower cost of gas sales, reflecting warmer winter weather in 2020 compared to 2019. The Company estimates that the warmer than normal winter weather negatively affected Net Income by approximately $3.1 million, or $0.20 per share, in the first quarter of 2020. “Despite the warm winter weather’s effect on our first quarter results, we continue to be well-positioned for future growth in Show less Read more
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