Unitil reports second quarter earnings

Hampton, n.h., aug. 06, 2024 (globe newswire) -- unitil corporation (nyse: utl) (unitil.com) today announced net income of $4.3 million, or $0.27 in earnings per share (eps) for the second quarter of 2024, an increase of $0.1 million in net income, or $0.02 in eps, compared to the second quarter of 2023. for the six months ended june 30, 2024, the company reported net income of $31.5 million, or $1.96 in earnings per share (eps), an increase of $3.2 million in net income, or $0.20 in eps, compared to the first six months of 2023. the company's electric and gas gaap gross margins for the second quarter of 2024 were $17.8 million and $20.5 million, respectively. for the six months ended june 30, 2024, the company's electric and gas gaap gross margins were $37.9 million and $70.6 million, respectively. operation and maintenance expenses include $0.3 million in both the three and six months ended june 30, 2024 for transaction costs associated with the company's recently announced acquisition of bangor natural gas company.
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