Unitil Q1 earnings jump 21% on Maine Natural Gas acquisition; FERC ROE cut triggers charge

Filed May 4, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 6, 2025 · ~2 min read

Key Changes

• high

  Net income rose 20.7% to $33.2M ($1.85 EPS) in Q1 2026 vs. $27.5M ($1.69 EPS) prior year, driven by Maine Natural Gas acquisition (completed Oct 2025), higher rates, and customer growth. Gas margin expanded 15.8% to $82.1M, with Maine Natural contributing $6.0M.

  MD&A: Financial Results verify on EDGAR →
• high

  FERC reduced transmission ROE from 10.57% to 9.57% effective Oct 2011, ordering refunds for multiple historical periods. Fitchburg recorded a one-time $0.9M charge in Q1 2026; lower ROE will reduce future transmission revenue.

  MD&A: FERC Transmission ROE verify on EDGAR →
• high

  Aquarion water companies acquisition progressing: regulatory approvals obtained in Massachusetts (Dec 2025) and New Hampshire (Oct 2025). Transaction remains contingent on Connecticut's approval of initial sale from Eversource to Aquarion Water Authority, which was granted March 25, 2026.

  MD&A: Acquisitions verify on EDGAR →