Unitil posted Q2 GAAP net income of $4.7 million, up 17.5% year over year; EPS rose to $0.26.
Six-month GAAP net income climbed to $37.9 million, up 20.3% from the prior-year period; EPS increased to $2.11.
Q2 adjusted net income (non-GAAP) was $5.2 million; adjusted EPS held at $0.29 after excluding acquisition-related transaction costs.
Gross margin and management commentary
Electric GAAP gross margin widened to $23 million, up $5 million year over year; gas GAAP gross margin increased to $25 million, up $1.8 million.
CEO Thomas P. Meissner Jr. cited disciplined execution and highlighted the addition of Aquarion New Hampshire water companies to expand the regulated portfolio.
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