Unitil Corp. reported a net loss of $1.5 million, or 8 cents a share, for the third quarter of 2026, its first full quarter owning two New Hampshire water utilities.
The company's Nov. 2 earnings release puts the loss against a $0.3 million loss, or 2 cents a share, in the third quarter of 2025. Excluding acquisition transaction costs, Unitil reported an adjusted loss of $0.7 million, or 4 cents a share, compared with adjusted net income of $0.4 million, or 3 cents, a year earlier.
For the first nine months of 2026, net income was $36.4 million, or $2.02 a share, up from $31.2 million, or $1.89, in the same period of 2025. Adjusted net income was $38.3 million, or $2.12 a share, against $33.5 million, or $2.03.
Water utilities close June 30
Unitil's quarterly report says its acquisitions of Aquarion Water Company of New Hampshire and Abenaki Water Co. closed June 30, 2026. The two utilities serve about 10,700 water customers, the filing says: Aquarion's New Hampshire company in the southeastern part of the state and Abenaki in central and northern New Hampshire. Both are regulated by the New Hampshire Public Utilities Commission.
Water revenue was $3.1 million in the quarter. Aquarion-related operating and maintenance costs were $1.2 million and depreciation and amortization was $0.4 million.
Revenue up, interest costs higher
Total operating revenue was $112.6 million in the quarter, up from $101.1 million, with electric at $68.6 million, gas at $40.9 million and water at $3.1 million. For nine months, revenue was $446.5 million, compared with $374.5 million. The filing says Maine Natural, another acquisition, contributed $2.9 million of gas revenue in the quarter and $25.4 million for nine months.
Transaction costs tied to the Bangor, Maine Natural and Aquarion acquisitions were $0.8 million in the quarter, or 4 cents a share, and $1.9 million for nine months. Net interest expense rose $2.1 million in the quarter and $4.9 million over nine months, which the filing attributes mainly to higher short-term borrowing and long-term debt. The release says operation and maintenance expenses rose $4.9 million in the quarter and depreciation and amortization rose $2.6 million.
Unitil paid $42.6 million for the two water utilities, the filing says; they serve customers in eight New Hampshire communities.
The release lists a quarterly dividend of 47.5 cents a share, or $1.90 annualized. Unitil Energy Systems, the company's electric utility in New Hampshire, is also regulated by the commission.