Chesapeake Utilities(US:CPK)2025-05-08 11:22Financial Performance - The company's Adjusted Gross Margin for Q1 2025 was $182.4 million, an increase of 11% compared to $164.5 million in Q1 2024 [19] - Adjusted Net Income for Q1 2025 reached $51.1 million, a 9% increase from $46.8 million in Q1 2024 [19] - Adjusted Earnings Per Share (EPS) for Q1 2025 was $2.22, up 6% from $2.10 in Q1 2024 [19] - The company reaffirmed its FY 2025 Adjusted EPS guidance of $6.15 - $6.35 per share and FY 2028 Adjusted EPS guidance of $7.75 - $8.00 per share [19] Growth and Capital Expenditure - The company's YTD 2025 Capital Expenditures amounted to $113 million, with a 2025 Capital Expenditure Guidance of $325 - $375 million [19] - The company's 2024-2028 5-Year Capital Expenditure Guidance is $1.5 - $1.8 billion [19] - Approved Transmission Expansions represent a capital investment of approximately $317 million, with an expected Adjusted Gross Margin of $22.1 million in 2025 and $42.3 million in 2026 [28] Operational Growth - Natural gas customer growth in Delmarva saw an average residential increase of 4% and a commercial & industrial increase of 1.5% in Q1 2025 compared to Q1 2024 [21] - Florida experienced natural gas customer growth with an average residential increase of 3% and a commercial & industrial increase of 1.7% in Q1 2025 compared to Q1 2024 [21] Rate Case Progress - The Maryland rate case resulted in a $3.5 million final base rate increase approved in March 2025 [38] - The Delaware rate case is expected to have a final order in Q2 2025, with approved cumulative interim rate relief of $6.1 million, effective May 1, 2025 [38]