📈 Price History

Ratio Health

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By Category

📊 Peer Medians

About

Chesapeake Utilities Corporation operates as an energy delivery company in the United States. It operates through two segments: Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the natural gas distribution operations in central and southern Delaware, Maryland’s eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula, Ohio, and Florida; and regulated electric distribution in northeast and northwest Florida. Its Unregulated Energy segment is involved in the propane operations in the Mid-Atlantic region, North Carolina, South Carolina, and Florida; unregulated natural gas transmission/supply operation in central and eastern Ohio; generation of electricity and steam; provision of compressed natural gas, liquefied natural gas, and renewable natural gas transportation and pipeline solutions primarily to utilities and pipelines in the United States; and sustainable energy investments. This segment also engages in the provision of other unregulated energy services, such as energy-related merchandise sale and heating, ventilation and air conditioning, and plumbing and electrical services. Chesapeake Utilities Corporation was founded in 1859 and is headquartered in Dover, Delaware.

Key Ratios Snapshot

📈 Growth Pattern

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⭐ Superinvestors Holding CPK

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	9.7K	$1.2M	0.00%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management emphasised 'fourth consecutive quarterly increase in earnings', 'double-digit growth in adjusted gross margin, operating income, and adjusted net income', and 'increasing our 2025 full-year capital expenditure guidance'. They also reiterated confidence in regulatory outcomes, stating 'we continue to reaffirm our full-year 2025 EPS guidance' and expect a successful outcome on the Florida City Gas depreciation study.

Q3 2025

Confident Specific

Management used consistent positive language: 'double-digit growth', 'reaffirming guidance', 'very confident in the numbers', 'strong growth trajectory'. They provided specific figures throughout, including EPS, margin contributions, and capital investment updates. The only cautious note was around the FCG depreciation study, which they addressed directly.

Q4 2025

Confident Specific

Management repeatedly used record-breaking language ("19th consecutive year of earnings growth", "industry-leading growth of 12%", "record levels of capital investments", "record year for incremental adjusted gross margin") and provided specific dollar and percentage figures throughout the prepared remarks and Q&A, indicating strong conviction in performance and outlook.

Q1 2026 latest

Confident Specific

Management repeatedly used terms like 'strong start', '16% increase in adjusted net income', and '23rd consecutive year of dividend increases', providing specific figures for margin growth and EPS. They also acknowledged headwinds (WRU delay, equity dilution) but framed them as manageable.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis remains intact but with a modest tempering. Strong Q1 results (16% adjusted net income growth) and consistent dividend growth reinforce the story of a steady utility compounding earnings. However, two overhangs were highlighted: the WRU LNG facility delay, which trims 2026 EPS by $0.10, and the expectation of ~$60M in equity dilution. The reaffirmation of 2028 EPS guidance ($7.75-$8.00) suggests management sees these as transitory. Key execution items to watch next quarter: progress on WRU commissioning timeline, interim rate decision in the Florida City Gas case (expected Q3 2026), and any further detail on South Florida transmission expansion. The leadership transition from Beth Cooper to Jeff Sylvester adds a layer of execution risk, but the narrative of 'one company' transformation and cost discipline is maintained.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED CPK Q1 2026: Adjusted net income up 16%, EPS $2.47, reaffirms 2028 EPS guidance of $7.75-$8.00.

Revenue & Profitability

Q1 2026 adjusted gross margin reached ~$206 million (up 13% YoY), adjusted net income ~$59 million (up 16% YoY), and adjusted EPS $2.47 (up 11% YoY). Regulated segment adjusted gross margin was ~$148 million (up 15%), operating income ~$71 million (up 18%). Unregulated segment adjusted gross margin ~$59 million (up 8%), operating income ~$28 million (up 8%). Full-year EPS impact from WRU project delay is approximately -$0.10.

Outlook

Management sees strong and sustained demand driven by population growth, home building, and increasing energy needs across service areas. Cold weather heightened peak demand, reinforcing the need for LNG storage and transmission expansion. The company reaffirms its long-term EPS CAGR of 8% through 2028 with 2028 EPS guidance of $7.75-$8.00 per share.

Growth Drivers

Key growth levers include transmission and infrastructure projects ($12 million incremental margin in Q1), distribution system growth and updated rates ($11 million), cold weather-driven consumption ($0.14 EPS), and improved Aspire system performance. Customer additions remain robust (3.3% Delmarva, 2.2% Florida Public Utilities, 2% Florida City Gas). Florida City Gas rate case ($47 million request) and interim rates ($16 million) are expected to contribute.

Balance Sheet & CapEx

Full-year 2026 capital expenditure guidance is $450-$500 million; $122 million invested in Q1. Major projects include WRU LNG storage facility (expected early 2027, $17 million 2027 margin), Delmarva Regional Enhancement ($75 million, 20-mile pipeline, construction start 2027), and feasibility studies for expansions into Virginia's Eastern Shore and South Florida. Approximately $60 million of equity planned for 2026 via ATM and waiver programs.

Margins

Not discussed in detail in this earnings call.

Key Risks

Primary risk is the WRU LNG project delay, which reduces full-year EPS by ~$0.10 due to construction challenges from severe winter weather and a slower FERC commissioning process. Other risks include higher payroll and operational expenses ($0.20 and $0.29 EPS headwinds in Q1), increased depreciation ($0.05 EPS), and financing costs ($0.05 EPS). No other material risks were raised by management or analysts.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-07

Adjusted net income and EPS grew 5% and 8% year-over-year, respectively, with robust customer and margin growth. The $1.2 billion Florida Energy Pathway project and increased capital guidance highlight long-term expansion, while regulated and unregulated segments both posted gains.

Q1 2026 Q1 2026 2026-05-07

Q1 2026 saw strong financial growth with adjusted net income up 16% and EPS up 11% year-over-year, driven by robust customer growth and higher margins from infrastructure projects. Delays in the WRU LNG project will reduce 2026 EPS by ~$0.10, but long-term growth targets remain intact.

Q4 2025 Q4 2025 2026-02-26

Delivered record 2025 results with 12% adjusted EPS growth, strong customer additions, and $470M in capital investment. Reaffirmed 8% long-term EPS CAGR and 2028 guidance, while launching a major ERP transformation and expanding infrastructure in high-growth regions.

Q3 2025 Q3 2025 2025-11-07

Double-digit growth in margin, income, and EPS year-to-date, with 2025 EPS guidance reaffirmed at $6.15-$6.35, contingent on a favorable FCG depreciation study outcome. Capital expenditure guidance raised to $425-$450 million, with strong customer and project growth across core regions.

Q2 2025 Q2 2025 2025-08-08

Q2 2025 saw 21% EPS growth and double-digit gains in margin and net income, driven by strong customer growth, successful rate cases, and robust capital investment. Full-year EPS guidance of $6.15–$6.35 was reaffirmed, with capital expenditure guidance raised to $375–$425M.

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