Natural Gas Sales Boost Unitil In Q3
Unitil Corp., the New Hampshire-based utility that provides power to customers in Fitchburg, Ashby, Lunenburg and Townsend, reported increased earnings over fiscal 2012 in the third quarter ended Sept. 30, thanks to a jump in natural gas sales.
The company reported natural gas sales of $24.4 million, up 2.5 percent over last year. For the year, natural gas sales were $147 million compared to $133 million in 2012, an increase of 10.5 percent.
But sales declined on the electricity side, totaling $465.8 million in the third quarter, compared to $468.9 million a year ago. Electricity sales were still up slightly for the year, however, at $1.28 billion, compared to $1.26 billion in 2012.
Robert G. Schoenberger, Unitil’s chairman and CEO, called the gas sales growth “robust” in an earnings statement, saying it produced sustainable annual growth, as well as shareholder earnings. Earnings totaled $600,000 in the third quarter, or 4 cents per share, compared to 1 cent in the third quarter of 2012.
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