Thanks, everyone. good afternoon, Tom. And
sales The experienced company significant year Tom we earnings illustrated, As another XXXX. have and and margin Bob had both growth. in great
X% gas company's positively prior in Therm degree which per there sales the gas to in X. to by heating $X.X of the Turning impacted service driven XXXX, in sales and natural data impact about Natural increase an XXXX, colder compared weather million. distribution weather in $X.X more areas increased natural of higher margin million of XXXX, we compared share. $X.XX was to Based collected X.X% XXXX estimate customer rates of year. are positive slide million by $X.X gas $XXX.X the days million EPS on growth and Natural gas
year-over-year However months. were impacted the X% of per know to days $X.XX normal injury were customers which heat share. sales I compared gas natural negatively is number up last about approximately X.X% down EPS residential XX XXXX up the total and that in by
there to XXXX, volumes distribution margin by by million, million positively summer milder sales million transmission compared service in $XX.X sales summer rates cooling of Electric and in kilowatt in increase million. of XXXX. XXXX largely to turning XX. $X.X decreased XXXX data collected mild offset weather to of net electric Electric due customer XX% revenues customer in $X.X XXXX in higher degree was lower weather were reflecting Based the was of Now offset to lower million sales compared $X.X company's X.X% partially an areas, ’XX, growth on million $X days electric $X.X by hour electric growth. impact affected fewer of percent the slide in sales and margin XXXX. weather of Total
months. of number customers XXX XXXX, the electric has XX As of December by increased by last Unitil the XX served in
slide We've higher variances to compensation expenses a expense to million operating year. expenses basis and outlined management cost major million increased higher turning which change prior in regulatory The year-to-date. $X.X utility XXXX million million. benefit compared reflects on $X.X Operation costs Utility and XX. maintenance of costs the of Now operating in margins. $X O&M and in are cost recovered vegetation higher pass-through and sales of reconciling include $X.X the
reflecting taxes tax $X.X by and than long-term X.X% plant being other reflecting higher service, property reflecting on higher expense Depreciation on in million, recovery $X.X term storm on by plant utility reconciling million XXXX income levels interest offset repayment debt. costs assets of over Taxes major partially assets XXXX, levels and Excluding deferred higher utility and was cost multi-year amortized which for local of increased compared and short assets year-over-year. higher $X.X amortization O&M of expenses up rates offset ’XX, increased in of interest amortization expense depreciation net higher primarily income these higher regulatory lower and periods. higher to increased Net partially service. million interest were debt,
year. reflecting XXXX, XX in Lastly, the ended earnings income prior $X.X to for XX taxes the XXXX months increased higher pre-tax compared million December
take and we at on regulation. XX, slide to Turning look return historical our equity a
reliable of regulatory cost. environment a initiatives at to our growth and with supportive have investments We safer a provide service constructive reasonable is that customers
We spending $XX.X These portions have timely our also rate will crossed long-term plans recovery on divisions In Maine one - more of allow filings long for system. per combined our filed or for of for rate million. cost trackers capital rate increase our New gas base of of utility proposals term comprehensive of rate about utility which cases include our and all distribution Hampshire we XXXX subsidiaries. the gas established plans
Xst gas be rate rate awarded the $X.X increase have will which were we this New effective decided - in August XXXX be level As of temporary the to XXXX, in which reconciled will permanent the discussed million Hampshire past, in case a we rate year.
expect decisions New to lower to the Act incorporating revenue deficiency’s Hampshire and Jobs requested the our currently Maine on reflect and Cuts provision are and the final reflect rate to into the Tax reductions revenue. gas distribution tax base We the cases both
the subsidiary process are any including or make impact Tax effective reflected legislation The XX% of X, have and and changes in over XX%. income Utility directing to is in offer to corporate calculations. Each rate Public from by company. is rates, XXXX Unitil's will a and as issuing which on tax be by state rate federal and that law are electric necessary companies certain January that these the changes orders served has filings XXXX of orders legislation will Cuts reduces companies of to requiring procedural became commission. to the complying the directed Now gas provide areas summary with how the with jurisdiction that XX, the slide The turning the recent fully - Jobs Commission its tax tax company we Act
reflected reductions. tax We deferred offset does $X.X our across expect be company all provisions to revenue by normalization regulated entities, flow ratemaking. The back amount of an distribution about excess provision tax decrease equal million tax expect will and in its
repay update Hampshire a funded late utilities and equity of the Last common be $XX.X closed in matured public credit to that equity completed New senior corporate raised impacted of were million refinance of negatively marketing shares total to December issue our the are to November to financings. and were used a remain the term gas regulated capitalization process capital approximately term of will to financings be XXXX. material contributions utilities, an net newly placement The and debt long-term to issued short of for XXXX. higher offering flow will XX proceeds we net particularly Maine in make through These in used recently proceeds entered through company's and our provides to purposes. XXXX, corporate there Cash to from into net long-term $XX purposes. institutional we expected repay unsecured but of debt and Slide notes income. offerings December and private agreements metrics our no in in three So for general general of Also million XXXX The investors. debt costs, year XXX,XXX short strong, effect were of offering on long-term sell multiple market light stock.
achieve strive a approximately capital equity strong with We continue that balanced XX% debt. capitalization XX% long-term to is equity and structure to
actual XX, jurisdictions. in capital utilities capital on of return equity a significant a Now with subsidiaries. the utility chart of financial on trailing in us would and to and current level. operating customer and spending. Unitil sustained the earned level as as to future our all our have long-term and weather portion growth capital the on we've the each table our not out do as that The return a trackers the are each results an maintain help These provided on total shown coupled basis have consolidated turning in past equity the across company XX to point like of Also discussed we stabilize our at of trackers in again shows update in XXXX. results right, slide earn earnings return Corporation we place of months regulatory quarter, recover on these I X.X% we equity normalized.
financial look I Now At turn to in We the operator. this for year our Thank success over XXXX. and another performance concludes summary growth our will of forward this of the XXXX. to point, you. call
