Chesapeake Utilities

Chesapeake Utilities Corp. engages in the distribution and transmission of natural gas, propane and electricity, and the generation of electricity and steam. It operates through the following segments: Regulated Energy and Unregulated Energy. The Regulated Energy segment distributes and transmits gas, natural gas, and electricity. The Unregulated Energy segment markets and sells propane, crude oil, and natural gas. The company was founded in 1947 and is headquartered in Dover, DE.

Earnings data Q1 2021

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Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

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Earnings data Q3 2024

Earnings data Q4 2024

Chesapeake Utilities excels in Q4, boosts sustainable energy investments

Chesapeake Utilities demonstrated strong financial performance and strategic growth initiatives in Q4 2022, underpinned by margin expansion and significant customer growth. The company's focus on sustainable energy projects, increased guidance for 2023, and enhanced capital expenditure range for 2021-2025 signal a positive outlook for future growth. Despite challenges like capital expenditure delays and regulatory complexities, Chesapeake Utilities remains poised to leverage opportunities in the sustainable energy market.

Chesapeake Utilities reports solid Q1 performance amidst growth opportunities

Chesapeake Utilities demonstrated resilience in Q1 despite weather challenges, with a focus on operational efficiency and financial stability.
While facing temperature impacts and rising interest rates, the company leveraged organic growth and strategic investments to drive performance.
The emphasis on dividend growth, infrastructure projects, and safety initiatives positions CPK for sustained success and shareholder value creation.
Continued commitment to long-term guidance and earnings reaffirmation underscores management's confidence in future prospects.

Chesapeake Utilities reports resilient Q2 performance amidst weather challenges

Chesapeake Utilities delivered solid financial performance in Q2 2023, navigating weather challenges and emphasizing growth initiatives. The company's strategic focus on organic growth, renewable energy, and expansion projects positions it well for future opportunities. Despite weather-related volume impacts, Chesapeake Utilities remains committed to sustainable growth and strategic investments.

Chesapeake Utilities reports strong Q3 earnings and plans Florida expansion

Chesapeake Utilities' Q3 performance shows strong earnings and operational growth, despite weather impacts.
The acquisition of Florida City Gas presents significant growth opportunities and a focus on sustainable energy solutions.
The company faces challenges in managing costs and evaluating post-acquisition synergies amidst market dynamics.
Strategic investments in pipeline capacity expansion and infrastructure enhancements position Chesapeake Utilities for long-term growth.

Chesapeake Utilities (CPK) excels in Q4 2023 earnings, eyes hydrogen integration

Chesapeake Utilities (CPK) reported strong earnings growth in 2023, driven by acquisitions and strategic investments. While facing challenges in customer growth and seasonal demand fluctuations, the company remains focused on operational efficiency, regulatory compliance, and future growth opportunities.

Chesapeake Utilities (CPK) reports robust Q1 earnings and growth outlook

Chesapeake Utilities (CPK) delivered a strong Q1 2024 performance, driven by strategic growth drivers and effective execution of integration plans.
While challenges like weather impacts persist, CPK's focus on synergies and operational optimization positions it well for future growth.
Confidence in meeting 2024 adjusted EPS guidance and a positive outlook on growth opportunities underline CPK's commitment to shareholder value.

Chesapeake Utilities (CPK) reports robust Q2 earnings and growth opportunities

Chesapeake Utilities (CPK) delivered a strong Q2 performance, showcasing financial growth and stability with increased customer base and capital investments on track. While facing challenges with operating expenses and financing costs, the company's focus on regulatory support and sustainability initiatives presents growth opportunities in the energy sector. CPK's commitment to stakeholders and community impact reinforces its position for long-term success.

Chesapeake Utilities reports strong Q3 earnings and growth opportunities

Chesapeake Utilities delivered solid financial results in Q3, driven by strong EPS performance and capital investments, with a focus on customer growth and operational efficiency.
The company showcased resilience through adjusted gross margin improvement, strategic contributions from operations, and a robust capital structure.
While facing challenges such as storm impacts and regulatory actions, Chesapeake Utilities remains well-positioned to capitalize on growth opportunities and drive long-term value.
By balancing operational challenges with strategic investments and a commitment to sustainability, the company aims to navigate market dynamics and deliver sustainable performance.

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Chesapeake Utilities Corp. engages in the distribution and transmission of natural gas, propane and electricity, and the generation of electricity and steam. It operates through the Regulated Energy and Unregulated Energy segments. The Regulated Energy segment distributes and transmits gas, natural gas, and electricity. The Unregulated Energy segment markets and sells propane, crude oil, and natural gas. The company was founded in 1947 and is headquartered in Dover, DE.

Chesapeake Utilities Corporation (CPK) Q4 2023 Earnings Call Transcript

Full Year 2023 earnings per share ("EPS")* was $4.73, including transaction-related expenses attributable to the acquisition of Florida City Gas ("FCG") of $0.58 per share, compared to $5.04 per share in 2022 Adjusted EPS**, which excludes the transaction-related expenses, was $5.31 for the year ended 2023, or an increase of 5.4 percent over 2022 EPS for the fourth quarter of 2023 was $1.26, including transaction-related expenses of $0.38 per share, versus $1.47 per share for the fourth quarter of 2022 Adjusted EPS** for the fourth quarter of 2023 increased by 12 percent to $1.64 compared to the fourth quarter of 2022 Adjusted gross margin** increased by $33.9 million during the year driven by regulatory initiatives, natural gas organic growth and continued pipeline expansion projects, increased propane margins and fees and incremental margin from FCG Significantly warmer than normal temperatures impacted customer consumption throughout 2023, lowering both EPS and Adjusted EPS by approximately $0.54 per share for the full year and $0.14 for the fourth quarter DOVER, Del. , Feb. 21, 2024 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) ("Chesapeake Utilities" or the "Company") today announced financial results for the year and the fourth quarter ended December 31, 2023.

CHESAPEAKE UTILITIES CORPORATION REPORTS FISCAL YEAR 2023 RESULTS

DOVER, Del., Feb. 6, 2024 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) will host a conference call on Thursday, February 22, 2024 at 8:30 a.m.

Chesapeake Utilities to Host its Fourth Quarter and Full Year 2023 Earnings Conference Call and Webcast on February 22, 2024

Second State-of the-Art Safety Training Center Underway DOVER, Del. , Feb. 2, 2024 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) announced today that it broke ground for its second safety training facility in DeBary, Florida, to serve its Florida subsidiaries Florida Public Utilities (FPU) and Florida City Gas (FCG).

Chesapeake Utilities Corporation Breaks Ground for Safety Training Facility in Florida

Chesapeake Utilities' (CPK) subsidiary acquires the propane operating assets of J.T. Lee and Son's in Cape Fear.

Chesapeake Utilities' (CPK) Unit Buys Propane Operating Assets

DOVER, Del. , Dec. 19, 2023 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) announced today that its subsidiary, Sharp Energy, has acquired the propane operating assets of J.T.

Chesapeake Utilities Corporation Expands Propane Services in North Carolina with Acquisition of J.T. Lee and Son's

Transformative transaction more than doubles operations in high-growth Florida; expands regulated utility business mix and aligns with long-term earnings and dividend growth targets. DOVER, Del.

Chesapeake Utilities Corporation Completes Acquisition of Florida City Gas

DOVER, Del. , Nov. 29, 2023 /PRNewswire/ -- The Company announced today that members of Management of Chesapeake Utilities Corporation (NYSE: CPK) will present and host one-on-one meetings with investors at the Sidoti December Virtual Investor Conference taking place on December 6-7, 2023.

Chesapeake Utilities Corporation to Present at Sidoti Virtual Investor Conference December 6, 2023

DOVER, Del. , Nov. 10, 2023 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) today announced the pricing of an underwritten public offering of 3,859,649 shares of its common stock at an offering price of $85.50 per share.

Chesapeake Utilities Announces Pricing of Public Offering of Common Stock

DOVER, Del. , Nov. 9, 2023 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) today announced the commencement of an underwritten public offering of $330,000,000 of shares of its common stock.

Chesapeake Utilities Announces Public Offering of $330 Million of Shares of Common Stock

Chesapeake Utilities Corporation (NYSE:CPK ) Q3 2023 Results Conference Call November 2, 2023 8:30 AM ET Company Participants Beth Cooper - EVP, CFO, Treasurer and Assistant Corporate Secretary Jeff Householder - Chairman, President and CEO Jim Moriarty - EVP, General Counsel, Corporate Secretary and Chief Policy and Risk Officer Conference Call Participants Chris Ellinghaus - Siebert Williams Shank Dylan Lipner - Ladenburg Thalmann Tate Sullivan - Maxim Group Brian Russo - Sidoti Operator Welcome to the Chesapeake Utilities Third Quarter 2023 Earnings Conference Call. At this time, all participants have been placed in a listen-only mode and the floor will be open for your question following the presentation.

Chesapeake Utilities Corporation (CPK) Q3 2023 Earnings Call Transcript

Earnings per share ("EPS")* for the third quarter of 2023 was $0.53 compared to $0.54 per share for the third quarter of 2022 Adjusted EPS** for the third quarter of 2023, which excludes transaction-related expenses attributable to the announced acquisition of Florida City Gas ("FCG"), increased by 28 percent to $0.69 compared to $0.54 per share for the third quarter of 2022 Year-to-date EPS was $3.47 compared to $3.58 per share in the prior year. Adjusted EPS, excluding transaction-related expenses, for the nine months ended September 30, 2023 was $3.63 Historically warmer temperatures significantly impacted customer consumption during the first half of 2023, lowering both EPS and Adjusted EPS by approximately $0.41 per share Adjusted gross margin** growth of $7.6 million during the third quarter was driven by continued pipeline expansion projects, natural gas organic growth, regulatory initiatives, and increased propane margins and fees Entered into a definitive agreement to acquire FCG for approximately $923 million, which is expected to close in the fourth quarter of 2023 DOVER, Del.

CHESAPEAKE UTILITIES CORPORATION REPORTS THIRD QUARTER 2023 RESULTS

DOVER, Del., Oct. 31, 2023 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) continues to advance the lower-carbon economy transition as an industry anchor partner with the Mid-Atlantic Clean Hydrogen Hub (MACH2™).

Chesapeake Utilities Corporation is an Industry Anchor Partner of the Infrastructure Funded Mid-Atlantic Clean Hydrogen Hub

DOVER, Del. , Oct. 18, 2023 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) today announced that its subsidiary, Eastern Shore Natural Gas Company (ESNG), plans to invest $80 million in the Worcester Resiliency Upgrade project, a planned liquefied natural gas storage facility in Bishopville, Maryland.

Chesapeake Utilities Corporation Announces $80 Million Investment to Support Growing Energy Demand on the Delmarva Peninsula

DOVER, Del. , Oct. 12, 2023 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) will host a conference call on Friday, November 3, 2023, at 8:30 a.m.

Chesapeake Utilities to Host its Third Quarter 2023 Earnings Conference Call and Webcast on November 3, 2023

DOVER, Del. , Oct. 11, 2023 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) has announced its designation as a 2023 Champion of Board Diversity by The Forum of Executive Women, joining other companies such as Campbell Soup Company, DuPont de Nemours, Rite Aid and WSFS Financial.

Chesapeake Utilities Corporation Named Champion of Board Diversity by The Forum of Executive Women

NextEra Energy

JUNO BEACH, Fla. , Sept. 26, 2023 /PRNewswire/ -- NextEra Energy, Inc. (NYSE: NEE) today announced its Florida Power & Light Company (FPL) subsidiary has entered into a definitive agreement to sell Florida City Gas (FCG) to Chesapeake Utilities Corporation (NYSE: CPK) (Chesapeake Utilities) for $923 million in cash.

NextEra Energy announces sale agreement for Florida City Gas and reaffirms long-term outlook

Transformative acquisition more than doubles operations in high-growth Florida service areas Positions CPK to execute on additional growth opportunities in regulated and unregulated businesses Supports long-term earnings and dividend growth; increases capital investment plan; financing plan maintains strong balance sheet DOVER, Del., Sept. 26, 2023 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) ("Chesapeake Utilities" or "the Company") today announced it has entered into a definitive agreement to acquire Florida City Gas ("FCG") from NextEra Energy, Inc. (NYSE: NEE) for $923 million in cash.

Chesapeake Utilities Corporation to Acquire Florida City Gas

DOVER, Del. , Sept. 13, 2023 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) announced today that it was recognized with four MerComm ARC International Awards for its 2022 Sustainability Report.

Chesapeake Utilities Corporation Celebrates Four ARC International Awards for Excellence in Sustainability Reporting

DOVER, Del. , Sept. 8, 2023 /PRNewswire/ -- On September 12, 2023, Management from Chesapeake Utilities Corporation (NYSE:CPK) (the "Company") will participate in the New York Stock Exchange's ("NYSE") Energy & Utilities Virtual Investor Access Day.

Chesapeake Utilities Corporation Participating in the NYSE Energy & Utilities Virtual Investor Access Day

Chesapeake Utilities Corporation (NYSE:CPK ) Q2 2023 Earnings Conference Call August 4, 2023 8:30 AM ET Company Participants Jeff Householder - Chairman, President and CEO Beth Cooper - EVP, CFO, Treasurer and Assistant Corporate Secretary Jim Moriarty - EVP, General Counsel, Corporate Secretary and Chief Policy and Risk Officer Conference Call Participants Tate Sullivan - Maxim Group Brian Russo - Sidoti Operator Welcome to the Chesapeake Utilities Second Quarter 2023 Earnings Conference Call. [Operator Instructions] I would now like to turn the call over to Beth Cooper, Executive Vice President, Chief Financial Officer, Treasurer and Assistant Corporate Secretary.

Chesapeake Utilities Corporation (CPK) Q2 2023 Earnings Call Transcript

Chesapeake Utilities (CPK) came out with quarterly earnings of $0.90 per share, missing the Zacks Consensus Estimate of $0.98 per share. This compares to earnings of $0.88 per share a year ago.

Chesapeake Utilities (CPK) Q2 Earnings and Revenues Miss Estimates

Earnings per share ("EPS")* for the second quarter of 2023 was $0.90 compared to $0.96 per share for the second quarter of 2022 which included a non-recurring gain of $0.08 per share; Operating income for the quarter grew 7.1 percent from the prior year quarter to $28.3 million Year-to-date EPS was $2.94 compared to $3.04 per share in the prior year Customer consumption was significantly impacted by historically warmer temperatures during the quarter and the six months ended June 30, 2023, lowering EPS by approximately $0.09 and $0.38 per share, respectively Adjusted gross margin growth of $7.4 million was driven by regulatory initiatives, natural gas organic growth, increased demand for CNG, RNG and LNG services and continued pipeline expansion projects Multiple new project updates, including the announcement of two new pipeline projects that will drive future earnings growth Reiteration of long-term earnings and capital expenditures guidance, including continued capital expenditure guidance of $200 million to $230 million for 2023 DOVER, Del. , Aug. 3, 2023 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) ("Chesapeake Utilities" or the "Company") today announced financial results for the three and six months ended June 30, 2023.

CHESAPEAKE UTILITIES CORPORATION REPORTS SECOND QUARTER 2023 RESULTS

DOVER, Del., June 28, 2023 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) will host a conference call on Friday, August 4, 2023, at 8:30 a.m.

Chesapeake Utilities to Host its Second Quarter 2023 Earnings Conference Call and Webcast on August 4, 2023

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