Unitil reports second quarter earnings

Hampton, n.h., aug. 03, 2021 (globe newswire) -- unitil corporation (nyse: utl) ( www.unitil.com ) today announced net income was $2.7 million, or $0.18 in earnings per share (eps), for the second quarter of 2021, a decrease of $0.4 million in net income, or $0.03 per share, compared to the second quarter of 2020. for the second quarter of 2021, higher gas and electric adjusted margins (a non-gaap measure) were more than offset by higher operating expenses compared to the same period in 2020. for the six months ended june 30, 2021, the company reported net income of $21.6 million, or $1.44 per share, an increase of $3.3 million, or $0.21 per share, compared to the same six month period in 2020. the company's earnings in the first six months of 2021 reflect higher gas and electric adjusted margins (a non-gaap measure), partially offset by higher operating expenses. the company's gaap gas and electric gross margins for the second quarter of 2021 were $16.8 million and $17.9 million, respectively. for the six months ended june 30, 2021, the company's gaap gas and electric gross margins were $56.4 million and $35.1 million, respectively.
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