Income Statement Reaves Utility Income Fund

Stocks

UTG

US7561581015

Closed End Funds

Market Closed - NYSE 16:00:00 2026-09-15 EDT			5-day change	1st Jan Change
36.00 ^USD	-1.72%		-6.01%	-1.59%

07-02	Reaves Utility Income Fund Reports Earnings Results for the Half Year Ended April 30, 2026	CI
06-23	Reaves Utility Income Fund Increases Monthly Distribution by 5% to $0.21 a Share	MT

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Published financial data: REAVES UTILITY INCOME FUND

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: October	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Interest And Invest. Income (Rev)	57.56M	66.67M	88.7M	96.11M	93.29M
Total Revenues	57.56M	66.67M	88.7M	96.11M	93.29M
Gross Profit	57.56M	66.67M	88.7M	96.11M	93.29M
Selling General & Admin Expenses, Total	20.54M	22.9M	19.34M	21.16M	27.51M
Other Operating Expenses	-	-	-	-	-
Other Operating Expenses, Total	20.54M	22.9M	19.34M	21.16M	27.51M
Operating Income	37.02M	43.77M	69.36M	74.95M	65.78M
Interest Expense, Total	-3.6M	-8.49M	-28.45M	-34.2M	-37.67M
Net Interest Expenses	-3.6M	-8.49M	-28.45M	-34.2M	-37.67M
Currency Exchange Gains (Loss)	-183K	-127K	-52.36K	-278K	86.9K
Other Non Operating Income (Expenses)	-	-	192K	404K	963K
EBT, Excl. Unusual Items	33.23M	35.16M	41.04M	40.87M	29.16M
Gain (Loss) On Sale Of Investments	217M	-257M	-115M	824M	740M
Gain (Loss) On Sale Of Assets	-	-	-	-	-
EBT, Incl. Unusual Items	250M	-222M	-74.37M	865M	769M
Earnings From Continuing Operations	250M	-222M	-74.37M	865M	769M
Net Income to Company	250M	-222M	-74.37M	865M	769M
Net Income - (IS)	250M	-222M	-74.37M	865M	769M
Net Income to Common Incl Extra Items	250M	-222M	-74.37M	865M	769M
Net Income to Common Excl. Extra Items	250M	-222M	-74.37M	865M	769M
Per Share Items
Net EPS - Basic	3.83	-3.08	-0.96	9.86	8.48
Basic EPS - Continuing Operations	3.83	-3.08	-0.96	9.86	8.48
Basic Weighted Average Shares Outstanding	65.21M	71.98M	77.2M	87.77M	90.68M
Net EPS - Diluted	3.83	-3.08	-0.96	9.86	8.48
Diluted EPS - Continuing Operations	3.83	-3.08	-0.96	9.86	8.48
Diluted Weighted Average Shares Outstanding	65.21M	71.98M	77.2M	87.77M	90.68M
Normalized Basic EPS	0.32	0.31	0.33	0.29	0.2
Normalized Diluted EPS	0.32	0.31	0.33	0.29	0.2
Dividend Per Share	2.2	2.28	2.28	2.28	2.32
Payout Ratio	50.01	-68.33	-218.35	20.72	26.37
Supplemental Items
EBITA	37.02M	43.77M	69.36M	74.95M	65.78M
EBIT	37.02M	43.77M	69.36M	74.95M	65.78M
Total Revenues (As Reported)	57.56M	66.67M	88.7M	96.11M	93.29M
Normalized Net Income	20.77M	21.97M	25.65M	25.54M	18.23M
Interest on Long-Term Debt	3.6M	8.49M	28.45M	34.2M	37.67M
Supplemental Operating Expense Items
General and Administrative Expenses	20.54M	22.9M	19.34M	21.16M	27.51M

Fiscal Period: October	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Assets
Cash And Equivalents	1.36M	626K	995K	-	-
Total Cash And Short Term Investments	1.36M	626K	995K	-	-
Accounts Receivable, Total	7.61M	5.52M	4.66M	5.53M	5.99M
Total Receivables	7.61M	5.52M	4.66M	5.53M	5.99M
Other Current Assets, Total	-	-	-	-	4.34M
Total Current Assets	8.97M	6.14M	5.65M	5.53M	10.34M
Long-term Investments	2.61B	2.49B	2.42B	3.51B	4.39B
Deferred Charges Long-Term	-	104K	22.01K	386K	392K
Other Long-Term Assets, Total	-	-	-	-	-
Total Assets	2.62B	2.5B	2.43B	3.51B	4.4B
Liabilities
Accounts Payable, Total	5.46M	377K	9.26M	1.05M	1.23M
Accrued Expenses, Total	2.75M	2.69M	2.28M	2.29M	2.97M
Short-term Borrowings	450M	500M	520M	650M	875M
Other Current Liabilities	-	-	-	-	17.95K
Total Current Liabilities	458M	503M	532M	653M	879M
Other Non Current Liabilities	204K	-	-	-	-
Total Liabilities	458M	503M	532M	653M	879M
Common Stock, Total	1.69B	1.9B	2.05B	2.33B	2.43B
Retained Earnings	472M	93.18M	-151M	527M	1.09B
Total Common Equity	2.16B	1.99B	1.89B	2.86B	3.52B
Total Equity	2.16B	1.99B	1.89B	2.86B	3.52B
Total Liabilities And Equity	2.62B	2.5B	2.43B	3.51B	4.4B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	65.21M	71.98M	77.2M	87.77M	90.68M
ECS Total Common Shares Outstanding	65.21M	71.98M	77.2M	87.77M	90.68M
Book Value / Share	33.09	27.71	24.53	32.6	38.85
Tangible Book Value	2.16B	1.99B	1.89B	2.86B	3.52B
Tangible Book Value Per Share	33.09	27.71	24.53	32.6	38.85
Total Debt	450M	500M	520M	650M	875M
Net Debt	449M	499M	519M	650M	875M
Account Code - Inventory Valuation	3	-	-	3	3

Fiscal Period: October	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Net Income	250M	-222M	-74.37M	865M	769M
(Gain) Loss on Sale of Investments - (CF)	-217M	257M	115M	-824M	-740M
Other Operating Activities, Total	-385M	-146M	-34.54M	-272M	-145M
Change In Accounts Receivable	-539K	30.77K	-1.25M	-1.32M	193K
Change In Accounts Payable	14.25K	-316K	8.07K	-290	5.04K
Change in Other Net Operating Assets	1.17M	-57.76K	-330K	-357K	693K
Cash from Operations	-351M	-111M	4.84M	-233M	-114M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	105M	50M	20M	130M	225M
Total Debt Issued	105M	50M	20M	130M	225M
Short Term Debt Repaid, Total	-74.04K	-	-	-	-
Long-Term Debt Repaid, Total	-	-	-	-	-
Total Debt Repaid	-74.04K	-	-	-	-
Issuance of Common Stock	373M	212M	138M	281M	96.67M
Common Dividends Paid	-125M	-152M	-162M	-179M	-203M
Common & Preferred Stock Dividends Paid	-125M	-152M	-162M	-179M	-203M
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	353M	111M	-4.47M	232M	119M
Net Change in Cash	1.36M	-737K	369K	-995K	4.34M
Supplemental Items
Cash Interest Paid	3.58M	7.48M	28.82M	34.79M	37.52M
Levered Free Cash Flow	19.45M	18.99M	34.91M	16.38M	13.64M
Unlevered Free Cash Flow	21.7M	24.3M	52.69M	37.76M	37.18M
Change In Net Working Capital	1.43M	3.06M	-9.34M	9.08M	3.93M
Net Debt Issued / Repaid	105M	50M	20M	130M	225M

Fiscal Period: October	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Profitability
Return on Assets	1	1.07	1.76	1.58	1.04
Return on Total Capital	1	1.07	1.77	1.58	1.04
Return On Equity %	13.09	-10.69	-3.83	36.4	24.1
Return on Common Equity	13.09	-10.69	-3.83	36.4	24.1
Margin Analysis
Gross Profit Margin %	100	100	100	100	100
SG&A Margin	35.69	34.34	21.81	22.02	29.49
EBITA Margin %	64.31	65.66	78.19	77.98	70.51
EBIT Margin %	64.31	65.66	78.19	77.98	70.51
Income From Continuing Operations Margin %	434.01	-333.02	-83.84	900.34	824.46
Net Income Margin %	434.01	-333.02	-83.84	900.34	824.46
Net Avail. For Common Margin %	434.01	-333.02	-83.84	900.34	824.46
Normalized Net Income Margin	36.09	32.96	28.92	26.58	19.54
Levered Free Cash Flow Margin	33.79	28.49	39.35	17.05	14.62
Unlevered Free Cash Flow Margin	37.7	36.45	59.4	39.29	39.86
Asset Turnover
Asset Turnover	0.02	0.03	0.04	0.03	0.02
Short Term Liquidity
Current Ratio	0.02	0.01	0.01	0.01	0.01
Quick Ratio	0.02	0.01	0.01	0.01	0.01
Operating Cash Flow to Current Liabilities	-0.77	-0.22	0.01	-0.36	-0.13
Long Term Solvency
Total Debt/Equity	20.85	25.07	27.46	22.72	24.83
Total Debt / Total Capital	17.25	20.04	21.54	18.51	19.89
Total Liabilities / Total Assets	17.52	20.14	21.92	18.59	19.97
EBIT / Interest Expense	10.28	5.16	2.44	2.19	1.75
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	0.26	15.82	33.05	8.35	-2.93
Gross Profit, 1 Yr. Growth %	0.26	15.82	33.05	8.35	-2.93
EBITA, 1 Yr. Growth %	-6.33	18.25	58.45	8.06	-12.23
EBIT, 1 Yr. Growth %	-6.33	18.25	58.45	8.06	-12.23
Earnings From Cont. Operations, 1 Yr. Growth %	-239.68	-188.87	-66.5	-1.26K	-11.11
Net Income, 1 Yr. Growth %	-239.68	-188.87	-66.5	-1.26K	-11.11
Normalized Net Income, 1 Yr. Growth %	0.67	5.79	16.74	-0.43	-28.65
Diluted EPS Before Extra, 1 Yr. Growth %	-215.53	-180.52	-68.77	-1.12K	-13.97
Accounts Receivable, 1 Yr. Growth %	20.56	-27.47	-15.58	18.78	8.32
Total Assets, 1 Yr. Growth %	29.95	-4.54	-2.9	44.89	25.28
Tangible Book Value, 1 Yr. Growth %	30.02	-7.57	-5.06	51.06	23.16
Common Equity, 1 Yr. Growth %	30.02	-7.57	-5.06	51.06	23.16
Cash From Operations, 1 Yr. Growth %	-872.06	-68.29	-104.34	-4.92K	-50.89
Levered Free Cash Flow, 1 Yr. Growth %	-14.94	-2.35	83.77	-53.07	-16.73
Unlevered Free Cash Flow, 1 Yr. Growth %	-19.81	11.97	116.84	-28.34	-1.53
Dividend Per Share, 1 Yr. Growth %	1.85	3.64	0	0	1.75
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-6.54	7.76	24.14	20.06	2.55
Gross Profit, 2 Yr. CAGR %	-6.54	7.76	24.14	20.06	2.55
EBITA, 2 Yr. CAGR %	-10.85	5.24	36.88	30.85	-2.62
EBIT, 2 Yr. CAGR %	-10.85	5.24	36.88	30.85	-2.62
Earnings From Cont. Operations, 2 Yr. CAGR %	-13.52	11.41	-45.44	97.42	221.59
Net Income, 2 Yr. CAGR %	-13.52	11.41	-45.44	97.42	221.59
Normalized Net Income, 2 Yr. CAGR %	2.22	3.2	11.13	7.82	-15.71
Diluted EPS Before Extra, 2 Yr. CAGR %	-25.24	-3.55	-49.85	78.78	196.73
Accounts Receivable, 2 Yr. CAGR %	56.83	-6.49	-21.75	0.14	13.43
Total Assets, 2 Yr. CAGR %	8.37	11.38	-3.72	18.61	34.73
Tangible Book Value, 2 Yr. CAGR %	10.11	9.63	-6.32	19.76	36.4
Common Equity, 2 Yr. CAGR %	10.11	9.63	-6.32	19.76	36.4
Cash From Operations, 2 Yr. CAGR %	88.31	56.47	-88.27	44.65	386.56
Levered Free Cash Flow, 2 Yr. CAGR %	-36.52	-8.86	33.96	-7.13	-37.49
Unlevered Free Cash Flow, 2 Yr. CAGR %	-38.54	-5.24	55.82	24.66	-15.99
Dividend Per Share, 2 Yr. CAGR %	2.84	2.74	1.8	0	0.87
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-6.54	0.39	15.6	18.63	11.85
Gross Profit, 3 Yr. CAGR %	-6.54	0.39	15.6	18.63	11.85
EBITA, 3 Yr. CAGR %	-11.45	-2.05	20.62	26.51	14.54
EBIT, 3 Yr. CAGR %	-11.45	-2.05	20.62	26.51	14.54
Earnings From Cont. Operations, 3 Yr. CAGR %	104.86	-12.73	-25.36	51.3	51.31
Net Income, 3 Yr. CAGR %	104.86	-12.73	-25.36	51.3	51.31
Normalized Net Income, 3 Yr. CAGR %	-6.63	3.4	7.53	7.14	-6.04
Diluted EPS Before Extra, 3 Yr. CAGR %	85.82	-23.37	-33.77	37.04	40.1
Accounts Receivable, 3 Yr. CAGR %	-44.23	21.28	-9.62	-10.07	2.8
Total Assets, 3 Yr. CAGR %	9.27	3.88	6.4	10.33	20.79
Tangible Book Value, 3 Yr. CAGR %	11.78	3.87	4.49	9.85	20.88
Common Equity, 3 Yr. CAGR %	11.78	3.87	4.49	9.85	20.88
Cash From Operations, 3 Yr. CAGR %	130.43	3.99	-52.63	-12.78	0.91
Levered Free Cash Flow, 3 Yr. CAGR %	2.92	-26.72	15.14	-5.56	-10.45
Unlevered Free Cash Flow, 3 Yr. CAGR %	29.13	-24.94	24.87	20.28	15.24
Dividend Per Share, 3 Yr. CAGR %	3.4	3.11	1.82	1.2	0.58
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	5.07	3.94	4.7	7.84	10.2
Gross Profit, 5 Yr. CAGR %	5.07	3.94	4.7	7.84	10.2
EBITA, 5 Yr. CAGR %	2.36	0.83	5.4	9.98	10.73
EBIT, 5 Yr. CAGR %	2.36	0.83	5.4	9.98	10.73
Earnings From Cont. Operations, 5 Yr. CAGR %	7.68	5.86	20.68	20.97	33.88
Net Income, 5 Yr. CAGR %	7.68	5.86	20.68	20.97	33.88
Normalized Net Income, 5 Yr. CAGR %	3.35	0.02	0.11	5.14	-2.45
Diluted EPS Before Extra, 5 Yr. CAGR %	-5.29	-2.1	10.04	7.54	20.66
Accounts Receivable, 5 Yr. CAGR %	26.56	18.21	-36.14	12.34	-1.02
Total Assets, 5 Yr. CAGR %	12.69	5.08	3.88	9.54	16.94
Tangible Book Value, 5 Yr. CAGR %	14.09	4.34	4.16	9.95	16.25
Common Equity, 5 Yr. CAGR %	14.09	4.34	4.16	9.95	16.25
Cash From Operations, 5 Yr. CAGR %	40.12	-19.45	-29.97	18.66	20.27
Levered Free Cash Flow, 5 Yr. CAGR %	3.89	-11.9	14.37	-19.43	-9.82
Unlevered Free Cash Flow, 5 Yr. CAGR %	2.61	-9.5	39.21	-8.05	6.56
Dividend Per Share, 5 Yr. CAGR %	3.82	3.5	2.76	1.85	1.44