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Unitil Q2 earnings grow YOY on higher gas sales margins

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Unitil Q2 earnings grow YOY on higher gas sales margins

Unitil Corp.booked a year-over-year increase in second-quarter 2016 net income to $2.5million, or 18 cents per share, from $1.7 million, or 12 cents per share, ayear ago — thanks in large to higher natural gas sales margins.

Unitil's gas sales margins increased $1.7 million year overyear to $19.8 million during the most recent quarter. Meanwhile, the company'selectric sales margins were largely flat at $20.4 million.

Gas revenues increased $1.3 million year over year to $28.9million, while electric revenues were down $4.3 million year over year to $44.1million during the second quarter, the company reported in a July 21 earningsrelease.

Usource, the company's nonregulated energy brokeringbusiness, posted second-quarter 2016 revenues of $1.5 million, flat with thesame period of last year.

Unitil is scheduled to hold a conference call to discusssecond-quarter results at 2 p.m. ET on July 21.