DOVER, Del., April 7, 2025 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE:CPK) today announced that video recordings of the presentation and panel discussions from the Company's recent 2025 Investor Day are now available to view via web replay on its Investor Relations site: https://investorevent.chpk.com/recap/.The 2025 Investor Day event held March 12-13 at the Kennedy Space Center in Cape Canaveral, Florida, brought together members of the Chesapeake Utilities leadership team and the financial co ...

DOVER, Del., April 2, 2025 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) celebrates the 10-year anniversary of its Ohio subsidiary. On April 1, 2015, the Company completed the merger of Gatherco Inc. into Aspire Energy of Ohio LLC to deliver energy through natural gas midstream services, processing and transportation services. Since the merger, the Ohio team has significantly improved the safety, resiliency, and reliability of the natural gas systems, while continuing to meet the growing need ...

Industry Overview - Natural gas distribution pipelines are essential for delivering natural gas to consumers, with nearly 3 million pipelines in the U.S. [1] - The demand for distribution pipelines is increasing due to rising natural gas consumption both domestically and internationally [2] Financial Environment - The natural gas industry requires consistent funding to address aging infrastructure and maintain pipelines [3] - The Federal Reserve has lowered the federal fund rate by one percentage point since September 2024, with further reductions expected in 2025, benefiting capital-intensive utilities [3] Utility Companies Performance - Utility service providers typically experience steady revenue growth and profitability, enhancing shareholder value through dividends [4] - Chesapeake Utilities (CPK) has a market capitalization of $2.90 billion, while New Jersey Resources (NJR) has $4.86 billion [6] Growth Projections - Chesapeake Utilities is projected to have 2025 earnings of $6.27 per share on revenues of $849.1 million, indicating a 16.3% increase in earnings and 7.9% revenue growth [7] - New Jersey Resources is expected to have earnings of $3.15 per share on revenues of $1.83 billion, reflecting a 7.5% increase in earnings and 1.7% revenue growth [7] Stock Performance - Over the past six months, NJR shares have increased by 2.1%, while CPK shares have risen by 0.9%, contrasting with a 4.9% decline in the industry [8] Debt and Financial Ratios - Chesapeake Utilities has a debt-to-capital ratio of 51.63%, and New Jersey Resources has 59.64%, both below the sector average of 60.26% [10] - The times interest earned (TIE) ratio for CPK is 3.4, and for NJR it is 4.2, indicating both companies have maintained financial flexibility to meet debt obligations [11] Dividend Yield - Chesapeake Utilities has a dividend yield of 2.06%, while New Jersey Resources has a yield of 3.76%, both exceeding the S&P 500 Composite average of 1.27% [12] Investment Recommendation - Both Chesapeake Utilities and New Jersey Resources are positioned as strong investments, with NJR being favored due to its superior TIE ratio, dividend yield, and stock performance [13]

Group 1 - Chesapeake Utilities (CPK) is a notable stock in the Utilities sector, which includes 104 individual stocks and has a Zacks Sector Rank of 5 [2] - The Zacks Rank system focuses on earnings estimates and revisions, with Chesapeake Utilities currently holding a Zacks Rank of 2 (Buy) [3] - The Zacks Consensus Estimate for CPK's full-year earnings has increased by 0.3% in the past quarter, indicating improved analyst sentiment [4] Group 2 - Chesapeake Utilities has returned approximately 3.8% year-to-date, matching the average return of the Utilities sector [4] - In comparison, Energias de Portugal (EDPFY) has outperformed the sector with a return of 4% since the beginning of the year [5] - Chesapeake Utilities belongs to the Utility - Gas Distribution industry, which ranks 72 in the Zacks Industry Rank, while the industry has seen an average loss of 6.8% this year [6]

Core Points - Chesapeake Utilities Corporation has received its inaugural investment grade credit rating from Fitch Ratings, with a Long-Term Issuer Default Rating (IDR) of BBB+ and a Stable outlook [1][3] - The company has a strong history of delivering top-tier returns for investors, supported by significant capital investment and prudent balance sheet management [2] - The investment grade rating will enhance Chesapeake's access to financing, allowing for more efficient capital raising to support future growth plans [2] Company Overview - Chesapeake Utilities Corporation is a diversified energy delivery company listed on the New York Stock Exchange, providing sustainable energy solutions through various services including natural gas transmission and distribution, electricity generation and distribution, and propane gas distribution [4]

Core Viewpoint - Income investors prioritize generating consistent cash flow, primarily through dividends, which are a significant component of long-term returns [2][6]. Company Overview: Chesapeake Utilities - Chesapeake Utilities (CPK) is based in Dover and operates in the Utilities sector, with a year-to-date share price change of 4.86% [3]. - The company currently pays a dividend of $0.64 per share, resulting in a dividend yield of 2.01%, which is lower than the industry average of 3.42% and the S&P 500's yield of 1.57% [3]. Dividend Performance - The annualized dividend of Chesapeake Utilities is $2.56, reflecting a 2% increase from the previous year [4]. - Over the last five years, the company has increased its dividend five times, achieving an average annual increase of 10.07% [4]. - The current payout ratio stands at 47%, indicating that the company distributes 47% of its trailing 12-month earnings per share as dividends [4]. Earnings Growth Expectations - For the fiscal year, Chesapeake Utilities anticipates solid earnings growth, with the Zacks Consensus Estimate for 2025 projected at $6.26 per share, representing a year-over-year growth rate of 16.14% [5]. Investment Considerations - Chesapeake Utilities is viewed as a compelling investment opportunity due to its attractive dividend and strong Zacks Rank of 2 (Buy) [7].

Company Performance - Chesapeake Utilities (CPK) has gained approximately 6% year-to-date, outperforming the average return of 4.3% for the Utilities sector [4] - The Zacks Consensus Estimate for CPK's full-year earnings has increased by 0.2% over the past quarter, indicating improving analyst sentiment [4] - Chesapeake Utilities holds a Zacks Rank of 2 (Buy), suggesting a favorable outlook for the stock [3] Industry Comparison - Chesapeake Utilities is part of the Utility - Gas Distribution industry, which consists of 13 companies and currently ranks 24 in the Zacks Industry Rank [6] - Stocks in the Utility - Gas Distribution industry have experienced an average loss of about 4.7% year-to-date, highlighting CPK's relative strength within this group [6] - Centrica PLC (CPYYY), another stock in the Utilities sector, has returned 11.1% year-to-date and also holds a Zacks Rank of 2 (Buy) [5]

Financial Data and Key Metrics Changes - Adjusted diluted earnings per share (EPS) for Q4 2024 was $1.63, bringing the full year EPS to $5.39, which is a significant accomplishment given various challenges faced during the year [12][34] - Full year adjusted gross margin was $567 million, up 25% from 2023, driven by the addition of Florida City Gas and infrastructure expansions [33] - Adjusted net income increased by 24% to approximately $122 million for full year 2024 [34] Business Line Data and Key Metrics Changes - Florida City Gas contributed nearly $89 million in adjusted gross margin for 2024 [16] - Adjusted gross margin for the Regulated Energy segment was approximately $439 million, up 32% from 2023 [37] - Unregulated Energy segment saw adjusted gross margin increase by 6% to approximately $128 million [38] Market Data and Key Metrics Changes - In Delmarva, over 4,000 new customers were added, driving residential growth by 4% and commercial growth by 1.6% [19] - In Florida, 6,700 new customers were added, resulting in residential and commercial growth of 3.9% and 1.2%, respectively [21] - Florida was the leading state for net in-migration and new resident net income growth in 2024 [21] Company Strategy and Development Direction - The company aims to prudently allocate capital, proactively manage regulatory strategies, and continually transform business operations [18] - A five-year capital investment plan of $1.5 billion to $1.8 billion is reaffirmed, with 2025 capital expenditure guidance set at $325 million to $375 million [27][25] - The company is focusing on integrating Florida City Gas and enhancing operational efficiencies through initiatives like the OneCX customer billing system [29] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the regulatory environment and its favorable impact on the industry, particularly for natural gas [63] - The company is positioned for significant growth in 2025, with a target of at least 14% adjusted EPS growth [55] - Management highlighted the importance of community engagement and maintaining a strong balance sheet to support future growth [53][39] Other Important Information - The company maintained a strong liquidity position with total available liquidity of $505 million at the end of 2024 [40] - A consistent dividend growth of approximately 9% was reported, with an annual dividend growth of 8.5% in 2024 [43][44] - The company is preparing for a credit rating pursuit and has made substantial progress in this area [42] Q&A Session Summary Question: Thoughts on executive orders and energy policy - Management indicated that executive orders have not changed their strategic thinking and are generally favorable for the industry [60][66] Question: Insights on Florida Supreme Court oral argument - Management believes the outcome will not significantly impact their operations and has moved to a more traditional depreciation study [68][72] Question: Weather impact on results, particularly for propane - Management noted that while the quarter started mild, favorable weather towards the end positively impacted results [78][80]

Fourth Quarter & Full-Year 2024 Earnings Call Presentation February 27, 2025 1 scan here for an electronic copy Safe Harbor for Forward-Looking Statements Safe Harbor Statement Some of the statements in this presentation are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable law. Such forward-looking statements may be identified by the use of words, such as "project," "believe," "expect," "anticipate," "intend," "plan," "estimate," "c ...

Core Points - Chesapeake Utilities Corporation opened its second Safety Town training facility in DeBary, Florida, emphasizing its commitment to safety for employees and the community [1][3] - The facility is modeled after the original Safety Town in Dover, Delaware, and includes specialized training environments for various safety scenarios [2][3] - A $10,000 donation was made to the Florida Fire Chiefs' Association Foundation during the opening ceremony to support education and scholarships for fire and emergency services professionals [5] Facility Details - The one-acre center features simulations for hit line and gas leaks, service hook-ups, utility locating, leak detection, and corrosion monitoring [2] - It includes technology-equipped training rooms, equipment storage areas, and multiple training houses for real-life safety scenarios [2] - The curriculum aims to enhance technical expertise and emergency preparedness through comprehensive training programs [3][4] Community Engagement - The facility serves as a valuable training resource for Florida's first responders and community partners [5][6] - Tours and safety demonstrations were offered to attendees, showcasing the training opportunities available [5] - The mayor of DeBary highlighted the importance of hands-on training for community safety [6]