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Chesapeake Utilities(CPK) - 2022 Q1 - Earnings Call Transcript
2022-05-08 10:46
Financial Data and Key Metrics Changes - The company reported earnings of $2.08 per share for Q1 2022, an increase of 6.1% compared to Q1 2021 [10][27] - Adjusted gross margin increased by $8.8 million or 7.5% during the quarter [30] - Net income for the quarter was $36.9 million, reflecting a 7.2% increase [30] Business Line Data and Key Metrics Changes - The Regulated Energy segment saw adjusted gross margin up 5.5% year-over-year, driven by pipeline expansions and organic growth [34] - The Unregulated Energy segment achieved an 11.6% increase in adjusted gross margin, primarily due to contributions from diversified energy and increased margins in propane distribution [36] Market Data and Key Metrics Changes - Delmarva and Florida service territories generated residential customer growth of 5.3% and 4.0%, respectively [19] - The company continues to monitor market factors impacting new home builds, with no current slowdown observed in Delmarva or Florida [20] Company Strategy and Development Direction - The company plans to deploy $175 million to $200 million in new capital investment in 2022, focusing on pipeline expansions and sustainable energy projects [11][62] - The North Ocean City Connector Pipeline project was announced to support growth and reliability in the region [15][45] Management's Comments on Operating Environment and Future Outlook - Management acknowledged inflationary pressures and supply chain challenges but expressed confidence in long-term growth and capital guidance [9][12] - The company remains committed to its five growth platforms and sees a bright future despite challenges such as rising rates and inflation [63] Other Important Information - The Board announced an 11.5% increase in the annualized dividend per share, aligning with earnings growth [17][60] - The company is actively pursuing renewable energy projects and enhancing its ESG disclosures [25][51] Q&A Session Summary Question: Details on the North Ocean City Connector project - Management confirmed the project supports growth and increases system reliability, contributing an estimated $400,000 in gross margin in the first year [66][67][68] Question: Customer growth rates in Florida - Management indicated that customer growth in Florida is expected to improve over the long term, with ongoing developments in the area [72][73] Question: Capital expenditure guidance - Management stated that the majority of capital investments are focused on natural gas distribution, with ongoing infrastructure programs also contributing [75][78] Question: Impact of inflation on unregulated businesses - Management noted that while inflation presents challenges, there are opportunities for margin growth in the unregulated segment [86][89] Question: Drivers of the Florida base rate filing - Management explained that the filing is driven by the need to consolidate tariffs and recover investments made over the past decade [93][96]
Chesapeake Utilities(CPK) - 2022 Q1 - Quarterly Report
2022-05-03 20:51
Table of Contents 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: March 31, 2022 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 | --- | --- | --- | |--------------------------------------------------------------------------------------------- ...
Chesapeake Utilities(CPK) - 2021 Q4 - Earnings Call Transcript
2022-02-25 01:46
Chesapeake Utilities Corporation (NYSE:CPK) Q4 2021 Earnings Conference Call February 24, 2022 4:00 PM ET Company Participants Jeff Householder – President and Chief Executive Officer Beth Cooper – Executive Vice President, Chief Financial Officer and Assistant Corporate Secretary James Moriarty – Executive Vice President, General Counsel, Corporate Secretary, and Chief Policy and Risk Officer Alex Whitelam – Head of Investor Relations Conference Call Participants Tate Sullivan – Maxim Group Brian Russo – S ...
Chesapeake Utilities(CPK) - 2021 Q4 - Annual Report
2022-02-23 21:41
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended: December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-11590 | --- | --- | |-----------------------------------------------------------------------------------------------------|---------------------| | | ...
Chesapeake Utilities(CPK) - 2021 Q3 - Earnings Call Transcript
2021-11-06 18:59
Chesapeake Utilities Corporation (NYSE:CPK) Q3 2021 Earnings Conference Call November 4, 2021 4:00 PM ET Company Participants Alex Whitelam – Head of Investor Relations Jeff Householder – President and Chief Executive Officer Beth Cooper – Executive Vice President, Chief Financial Officer and Assistant Corporate Secretary Jim Moriarty – Executive Vice President, General Counsel, Corporate Secretary and Chief Policy and Risk Officer Conference Call Participants Tate Sullivan – Maxim Group Brian Russo – Sidot ...
Chesapeake Utilities(CPK) - 2021 Q3 - Quarterly Report
2021-11-03 20:49
Table of Contents Common Stock - par value per share $0.4867 CPK New York Stock Exchange, Inc. 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: September 30, 2021 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 Indicate by check mark whether th ...
Chesapeake Utilities(CPK) - 2021 Q2 - Earnings Call Transcript
2021-08-07 17:48
Chesapeake Utilities Corporation (NYSE:CPK) Q2 2021 Earnings Conference Call August 5, 2021 4:00 PM ET Company Participants Beth Cooper - Chief Financial Officer Jeff Householder - President and Chief Executive Officer Jim Moriarty - Executive Vice President, General Counsel, Corporate Secretary and Chief Policy and Risk Officer Conference Call Participants Tate Sullivan - Maxim Group Brian Russo - Sidoti Roger Liddell - Clear Harbor Asset Management Operator Greetings and welcome to the Chesapeake Utilitie ...
Chesapeake Utilities(CPK) - 2021 Q2 - Earnings Call Presentation
2021-08-06 19:46
| --- | --- | |-------|-------| | | | | | | Presenters Jeff Householder President & CEO Beth Cooper Executive Vice President, CFO and Asst. Secretary Jim Moriarty Executive Vice President, General Counsel , Corporate Secretary and Chief Policy and Risk Officer 2 Forward Looking Statements and Other Disclosures Safe Harbor Statement Some of the Statements in this document concerning future Company performance will be forwardlooking within the meanings of the securities laws. Actual results may materially dif ...
Chesapeake Utilities(CPK) - 2021 Q2 - Quarterly Report
2021-08-04 21:01
Table of Contents Common Stock - par value per share $0.4867 CPK New York Stock Exchange, Inc. 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, 2021 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 Indicate by check mark whether the reg ...
Chesapeake Utilities(CPK) - 2021 Q1 - Earnings Call Transcript
2021-05-08 11:31
Chesapeake Utilities Corporation (NYSE:CPK) Q1 2021 Earnings Conference Call May 5, 2021 4:00 PM ET Company Participants Beth W. Cooper - EVP, CFO, and Assistant Corporate Secretary Jeff M. Householder - President and CEO James F. Moriarty - EVP, General Counsel, CS, and Chief Policy and Risk Officer Conference Call Participants Tate Sullivan - Maxim Group Brian Russo - Sidoti Michael Gaugler - Janney Montgomery Scott Operator Greetings and welcome to the Chesapeake Utilities Corporation's First Quarter Res ...