EXHIBIT 11

UNITIL CORPORATION AND SUBSIDIARY COMPANIES

COMPUTATION OF EARNINGS PER AVERAGE COMMON SHARE OUTSTANDING

($ Millions, except for per share data)

(UNAUDITED)

	Three Months Ended March 31,
	2018		2017
Net Income	$	15.6	$	12.4
Less: Dividend Requirements on Preferred Stock		—		—
Net Income Applicable to Common Stock	$	15.6	$	12.4
Weighted Average Number of Common Shares Outstanding – Basic (000’s)		14,803		14,042
Dilutive Effect of Stock Options and Restricted Stock (000’s)		3		6
Weighted Average Number of Common Shares Outstanding – Diluted (000’s)		14,806		14,048
Earnings Per Share – Basic	$	1.06	$	0.88
Earnings Per Share – Diluted	$	1.06	$	0.88