Chesapeake Utilities (CPK) Presents At Bank of America Gas Utility Conference - Slideshow

Financial Performance & Growth - The company's five-year performance through September 30, 2020, shows an annual shareholder return of 117%[7], EPS growth of 87%[7], and dividend growth of 89%[7] - The company's Return on Equity (ROE) consistently exceeds the peer median and 75th percentile[9] - Capital expenditures for the nine months ended September 30, 2020, were $1439 million[82] - The company reaffirms its five-year capital expenditure guidance up to $1 billion[84] From 2018 through September 30, 2020, the company has invested $626 million on new capital expenditures[84] Strategic Initiatives & Expansion - The company invested $144 million in Gas Reliability and Infrastructure Project[32] - The company's strategic plan for 2021-2025 includes optimizing earnings growth, pursuing transmission projects, expanding Marlin Gas Services, further expanding the propane business, and investing in Renewable Natural Gas (RNG) production projects[33] - The company expects to generate $1 million in incremental margin in 2021 from renewable gas transportation due to the Bioenergy DevCo, CleanBay, and Fortistar projects[78] COVID-19 Impact - For the three and nine months ended September 30, 2020, the COVID-19 operating income impacts were $19 million and $67 million, respectively[88] - Year-to-date net income was reduced $19 million or $012 per share due to COVID-19[88] Regulatory & Other Factors - In September 2020, the Florida Public Service Commission approved a settlement agreement regarding the final cost recovery and rates associated with Hurricane Michael, improving operating income by $29 million for the third quarter[89] - The settlement agreement allowed FPU to record regulatory assets for storm costs in the amount of $458 million, recover these storm costs through a surcharge for a total of $77 million annually, and collect an annual increase in revenue of $33 million to recover capital costs[89] - Gross Margin increased $82 million in the third quarter of 2020 compared to the third quarter of 2019[90]