Filing Flows › Unitil (UTL) › Q4 2025
Unitil (UTL) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 9, 2026
Unitil (UTL) reported revenue of $162M for the fourth quarter 2025 (Q4 2025), +27% from a year earlier and +60% from the quarter before. Operating margin was 21.5%, net earnings $19.0M (11.8% of revenue).
Unitil, Q4 2025: revenue $162M (+27% year over year), operating margin 21.5%, net earnings $19.0M, operating cash flow $21.4M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $162M | +60% | +27% |
| Operating profit | $34.7M | +396% | +23% |
| Net earnings | $19.0M | — | +22% |
| Operating cash flow | $21.4M | +37% | -8% |
What changed
Revenue was $161.5M in Q4 2025, up 27% year over year and up 60% from the previous quarter. Gas was the largest line at 62% of revenue.
Operating profit was $34.7M, a 21.5% margin (down 0.6 points year over year). Of the extra revenue versus a year earlier, 19% reached operating profit, below the 22% margin then. Total costs grew 28% against revenue growth of 27%. Net earnings were $19.0M, up 22% year over year. The effective tax rate was 25.2%.
Operating cash flow was $21.4M (down 8% year over year), 113% of net earnings. Working capital and other items added $2.4M. Capital expenditures of $57.7M exceeded it, leaving free cash flow of −$36.3M.
Questions
What was Unitil's revenue in the fourth quarter 2025?
Unitil (UTL) reported revenue of $162M for the fourth quarter 2025 (Q4 2025), +27% from a year earlier and +60% from the quarter before.
Was Unitil profitable in the fourth quarter 2025?
Operating profit was $34.7M (21.5% of revenue) and net earnings $19.0M.
Source: Unitil 10-K on SEC EDGAR.