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Unitil (UTL) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 4, 2026
Unitil (UTL) reported revenue of $217M for the first quarter 2026 (Q1 2026), +27% from a year earlier and +34% from the quarter before. Operating margin was 25.8%, net earnings $33.2M (15.3% of revenue).
Unitil, Q1 2026: revenue $217M (+27% year over year), operating margin 25.8%, net earnings $33.2M, operating cash flow $50.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $217M | +34% | +27% |
| Operating profit | $55.9M | +61% | +21% |
| Net earnings | $33.2M | +75% | +21% |
| Operating cash flow | $50.1M | +134% | -4% |
| Free cash flow | $17.7M | — | -9% |
What changed
Revenue was $216.9M in Q1 2026, up 27% year over year and up 34% from the previous quarter. Gas was the largest line at 70% of revenue. Gas added $40.8M year over year (up 37%), 89% of the total change.
Operating profit was $55.9M, a 25.8% margin (down 1.3 points year over year). Of the extra revenue versus Q1 2025, 21% reached operating profit, below the 27% margin then. Total costs grew 29% against revenue growth of 27%. Net earnings were $33.2M, up 21% year over year. The effective tax rate was 26.4%.
Operating cash flow was $50.1M (down 4% year over year), 151% of net earnings. Working capital and other items added $16.9M. Capital expenditures of $32.4M left free cash flow of $17.7M.
Questions
What was Unitil's revenue in the first quarter 2026?
Unitil (UTL) reported revenue of $217M for the first quarter 2026 (Q1 2026), +27% from a year earlier and +34% from the quarter before.
Was Unitil profitable in the first quarter 2026?
Operating profit was $55.9M (25.8% of revenue) and net earnings $33.2M.
Source: Unitil 10-Q on SEC EDGAR.