Net income and earnings per share ("EPS")* were $17.5 million and $0.78, respectively, for the third quarter of 2024, and $81.9 million and $3.66, respectively, for the nine months ended September 30, 2024 Adjusted net income and Adjusted EPS**, which exclude transaction and transition-related expenses attributable to the acquisition and integration of Florida City Gas ("FCG"), were $18.1 million and $0.80, respectively, for the third quarter of 2024 and $84.2 million and $3.76, respectively, for the nine ...

"The RNG facility at FCD is a great example of our ability to leverage our expertise across the entire energy delivery value chain -- from production to virtual pipeline transportation, injection, transmission and distribution – while supporting our strategic focus on prudent capital deployment," said Jeff Householder, board chair, president and CEO. "We share FCD's commitment to innovative approaches that result in a more sustainable future for customers and our local communities. FPU Renewables LLC, a sub ...

Second Quarter 2024 Earnings Call Presentation scan here for an electronic copy August 9, 2024 1 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," "continue," "pote ...

Financial Data and Key Metrics Changes - Adjusted earnings per share (EPS) for Q2 2024 was $0.86, with year-to-date EPS at $2.96, reflecting strong contributions from Florida City Gas and legacy operations [7] - Adjusted gross margin was approximately $127 million, a 27% increase compared to Q2 2023, and adjusted net income was approximately $19 million, up 19% from the same period last year [7][20] - Operating income for the quarter increased 44% to approximately $41 million, driven by effective cost management [20] Business Line Data and Key Metrics Changes - Adjusted gross margin for the Regulated Energy segment was approximately $103 million, up 34% from Q2 2023, while the Unregulated Energy segment saw adjusted gross margin increase by 3% to $23 million [22][23] - Florida City Gas operations contributed $0.77 to adjusted EPS, reflecting strong customer growth and consistent natural gas demand [21] Market Data and Key Metrics Changes - Customer growth in Delmarva and Florida was strong, with a 3.7% increase in residential customers in Q2 2024 compared to the same period last year [8] - Significant growth was noted in Cecil County, Maryland, due to natural gas infrastructure investments attracting key businesses [9][10] Company Strategy and Development Direction - The company focuses on three fundamental drivers for earnings growth: prudent capital investment, proactive regulatory management, and continuous business transformation [11][12] - A five-year capital investment plan of $1.5 billion to $1.8 billion is underway, with $1.3 billion of projects identified [13][14] Management's Comments on Operating Environment and Future Outlook - Management reaffirmed full-year 2024 adjusted EPS guidance of $5.33 to $5.45, with expectations for continued strong performance [7][27] - The integration of Florida City Gas is critical for future growth, with ongoing efforts to optimize operations and identify synergies [18] Other Important Information - The company has a strong balance sheet with an equity to total capitalization ratio of 48%, targeting 50% [24] - A significant dividend increase of $0.05 per share was announced, representing an 8.5% year-over-year growth [26] Q&A Session Summary Question: Regarding RNG investments, is the Full Circle Dairy project owned by Chesapeake? - Yes, the company owns and operates the Full Circle Dairy facility through a contract [38] Question: Is the RNG project regulated or non-regulated? - It is currently a non-regulated investment, but there are plans to potentially move it into the regulated utility [39] Question: What is the expected contribution from tax credits for the RNG project? - The company expects to realize tax credits, but specific estimates have not been disclosed yet [42] Question: What is the timeline to reach the targeted 50% equity ratio? - The company aims to achieve this within the next year to year and a half, depending on market conditions [46] Question: Are the renewable natural gas projects scalable in Florida? - Yes, the company sees potential for scalability and has received regulatory approval for the pipeline expansions [50]

Chesapeake Utilities (CPK) came out with quarterly earnings of $0.86 per share, missing the Zacks Consensus Estimate of $0.88 per share. This compares to earnings of $0.90 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -2.27%. A quarter ago, it was expected that this energy and utility company would post earnings of $2.14 per share when it actually produced earnings of $2.10, delivering a surprise of -1.87%. Over the last fo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-11590 | --- | --- | --- | |---------------------------------------------------------------------------------------------------------------- ...

FOR IMMEDIATE RELEASE August 8, 2024 NYSE Symbol: CPK CHESAPEAKE UTILITIES CORPORATION REPORTS SECOND QUARTER 2024 RESULTS • Net income and earnings per share ("EPS")* were $18.3 million and $0.82, respectively, for the second quarter of 2024, and $64.4 million and $2.89, respectively, for the six months ended June 30, 2024 • Adjusted net income and Adjusted EPS**, which exclude transaction and transition-related expenses attributable to the acquisition and integration of Florida City Gas ("FCG"), were $19. ...

Net income and earnings per share ("EPS")* were $18.3 million and $0.82, respectively, for the second quarter of 2024, and $64.4 million and $2.89, respectively, for the six months ended June 30, 2024 Adjusted net income and Adjusted EPS**, which exclude transaction and transition-related expenses attributable to the acquisition and integration of Florida City Gas ("FCG"), were $19.3 million and $0.86, respectively, for the second quarter of 2024 and $66.1 million and $2.96, respectively, for the six months ...

DOVER, Del., July 22, 2024 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) will host a conference call on Friday, August 9, 2024 at 8:30 a.m. ET to discuss the Company's financial results for the second quarter ended June 30, 2024. The earnings press release will be issued on Thursday, August 8, 2024, after market close. To listen to the Company's conference call via live webcast, please register here prior to the call. The accompanying presentation will also be available in the registration li ...

Please note that Chesapeake Utilities Corporation is not affiliated with Chesapeake Energy, an oil and natural gas exploration company headquartered in Oklahoma City, Oklahoma. Media Contact: Susan Cellura Manager, External Communications 904.654.5087 [email protected] Investor Relations Contact: Lucia M. Dempsey Head of Investor Relations 347.804.9067 [email protected] SOURCE Chesapeake Utilities Corporation Using Renewable Energy to Support Growing Markets The projects, located in Florida's Brevard, India ...