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2026-09-01 14:16 8d ago
2026-09-01 08:15 9d ago
Chesapeake Utilities prodala 49 % projektu Florida Energy Pathway
CPK Chesapeake Utilities Corporation
FMP Stock News 78
Original source text
NextEra Energy Resources to acquire a minority interest in landmark South Florida natural gas infrastructure project.

, /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK), through its indirect subsidiary Peninsula Pipeline Holdings, LLC ("Peninsula"), today announced it sold a minority interest in Florida Energy Pathway (FEP), a natural gas transmission infrastructure project designed to support South Florida's growing energy needs. Under the agreement, Peninsula will retain 51% ownership of the project and NextEra Energy Resources ("NEER") will acquire a 49% minority ownership interest. The joint venture engaged Chesapeake Utilities' subsidiary, Peninsula Pipeline Company, Inc., to construct, manage and operate the project.

FEP is anticipated to be a 24-inch intrastate natural gas infrastructure project constructed from Palm Beach County to Miami-Dade County. The project is designed to expand natural gas transportation capacity, address regional supply constraints, meet growing customer demand, and enhance energy reliability in one of the nation's fastest-growing regions. Total project investment is estimated to be approximately $1.2 billion, pending finalization of design and development activities.  

"Since announcing the project in July, we have received strong interest from potential partners, reinforcing the value of this regulated infrastructure opportunity," said Jeff Householder, chair of the board, president and chief executive officer of Chesapeake Utilities Corporation. "This partnership strengthens our ability to advance a transformational infrastructure project alongside our robust capital growth plan to drive long-term value creation for our customers, communities, and shareholders." 

Development activities related to FEP continue to advance, including engineering, environmental studies and stakeholder engagement. Construction is expected to begin during the first half of 2028, and the project is anticipated to be in service in 2030, subject to final commissioning.

About Chesapeake Utilities Corporation
Chesapeake Utilities Corporation is a diversified energy delivery company listed on the New York Stock Exchange. Chesapeake Utilities Corporation offers sustainable energy solutions through its natural gas transmission and distribution, electricity generation and distribution, propane gas distribution, mobile compressed natural gas utility services and solutions and other businesses.

Forward-Looking Statements 
Forward-Looking Statements Matters included in this release may include forward-looking statements that involve risks and uncertainties. Forward-Looking statements include, but are not limited to, statements regarding project investment, timeline, and financing. Actual results may differ materially from those in the forward-looking statements. Please refer to the Safe Harbor for Forward-Looking Statements in the Company's 2025 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the second quarter of 2026 for further information on the risks and uncertainties related to the Company's forward-looking statements.

Chesapeake Utilities Corporation Contacts: 

Media 
Victoria Price 
Director, External Affairs 
850.382.4153 
[email protected] 

Investors 
Lucia Dempsey 
Head of Investor Relations 
347.804.9067 
[email protected] 

SOURCE Chesapeake Utilities Corporation
2026-08-31 10:23 10d ago
2026-08-26 04:34 15d ago
Bank of America snížila podíl v Chesapeake Utilities
CPK Chesapeake Utilities Corporation
FMP Stock News 72
Original source text
Bank of America Corp DE lowered its stake in Chesapeake Utilities Corporation (NYSE:CPK – Free Report) by 5.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 62,535 shares of the utilities provider’s stock after selling 3,938 shares during the period. Bank of America Corp DE owned 0.26% of Chesapeake Utilities worth $7,903,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CPK. EverSource Wealth Advisors LLC boosted its stake in Chesapeake Utilities by 94.7% in the second quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 108 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Chesapeake Utilities by 292.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider’s stock worth $28,000 after buying an additional 164 shares in the last quarter. Entrust Financial LLC bought a new position in Chesapeake Utilities during the 4th quarter valued at $37,000. CIBC Private Wealth Group LLC grew its holdings in Chesapeake Utilities by 66.1% during the third quarter. CIBC Private Wealth Group LLC now owns 274 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 109 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its stake in Chesapeake Utilities by 133.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 487 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 278 shares during the last quarter. 83.11% of the stock is owned by institutional investors and hedge funds.

Chesapeake Utilities Stock Performance CPK opened at $135.34 on Wednesday. Chesapeake Utilities Corporation has a 1 year low of $118.88 and a 1 year high of $140.83. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.32 and a quick ratio of 0.28. The business’s 50-day moving average price is $130.41 and its two-hundred day moving average price is $128.93. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 21.59 and a beta of 0.68.

Chesapeake Utilities (NYSE:CPK – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.02). The company had revenue of $201.90 million for the quarter, compared to analyst estimates of $198.91 million. Chesapeake Utilities had a return on equity of 9.34% and a net margin of 15.12%.The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $1.04 EPS. Chesapeake Utilities has set its FY 2026 guidance at 7.750-8.000 EPS. Equities analysts expect that Chesapeake Utilities Corporation will post 6.42 EPS for the current fiscal year. Chesapeake Utilities Dividend Announcement The business also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Monday, September 14th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, September 14th. Chesapeake Utilities’s payout ratio is 46.89%.

Wall Street Analysts Forecast Growth Several research analysts have commented on CPK shares. Wells Fargo & Company raised their target price on shares of Chesapeake Utilities from $132.00 to $134.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Weiss Ratings upgraded shares of Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 10th. Finally, Wall Street Zen downgraded Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $138.00.

Read Our Latest Research Report on CPK

Chesapeake Utilities Profile (Free Report)

Chesapeake Utilities Corporation (NYSE: CPK) is a diversified energy services holding company headquartered in Dover, Delaware. Through its operating subsidiaries, the company engages in natural gas distribution, transmission and storage; propane distribution; wholesale propane supply; and contract compression and natural gas liquids processing. Its core mission is to provide safe, reliable and cost-effective energy solutions to residential, commercial and industrial customers across multiple U.S.

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2026-08-07 17:21 1mo ago
2026-08-07 12:54 1mo ago
Chesapeake Utilities zveřejnila výsledky za 2. čtvrtletí 2026
CPK Chesapeake Utilities Corporation
FMP Stock News 78
Original source text
Chesapeake Utilities Corporation (CPK) Q2 2026 Earnings Call August 7, 2026 8:30 AM EDT

Company Participants

Lucia Dempsey - Head of Investor Relations
Jeffrey Householder - President, CEO & Chairman
James Moriarty - Executive VP, General Counsel, Corporate Secretary and Chief Policy & Risk Officer
Jeffrey S. Sylvester - Senior VP & CFO

Conference Call Participants

Constantine Lednev - Wells Fargo Securities, LLC, Research Division
Michael Brown - Barclays Bank PLC, Research Division
Tate Sullivan - Maxim Group LLC, Research Division
Christopher Ellinghaus - Siebert Williams Shank & Co., L.L.C., Research Division
Paul Fremont - Ladenburg Thalmann & Co. Inc., Research Division

Presentation

Operator

Welcome to Chesapeake Utilities Corporation's Second Quarter 2026 Earnings Conference Call. [Operator Instructions]

I would now like to turn the call over to Lucia Dempsey, Head of Investor Relations. Please go ahead.

Lucia Dempsey
Head of Investor Relations

Thank you, and good morning, everyone. Today's presentation can be accessed on our website under the Investors page and Events and Presentations subsection. After our prepared remarks, we will open up the call for questions.

On Slide 2, we show our typical disclaimers, while I remind you that matters discussed on this conference call may include forward-looking statements that involve risks and uncertainties. Forward-looking statements and projections could differ materially from our actual results. The safe harbor for forward-looking statements section of our 2025 annual report on Form 10-K and in our second quarter Form 10-Q provide further information on the factors that could cause such statements to differ from our actual results.

Additionally, the company evaluates its performance based on certain non-GAAP measures, including adjusted gross margin, adjusted net income and adjusted earnings per share, and the information presented today includes the appropriate disclosures in accordance with the SEC's Regulation G. A reconciliation of these non-GAAP measures to the related GAAP measures have been provided in the
2026-08-06 22:06 1mo ago
2026-08-06 16:30 1mo ago
Chesapeake Utilities zvýšila kapitálové výdaje na 600 mil. USD
CPK Chesapeake Utilities Corporation
FMP Stock News 92
Original source text
Net income and earnings per share ("EPS")* were $25.4 million and $1.05, respectively, for the second quarter and $84.7 million and $3.51, respectively, year to date Year-to-date growth rate of 8.0 percent on Adjusted EPS**, which excludes the transaction and transition-related expenses attributable to the acquisition and integration of Florida City Gas ("FCG") Adjusted gross margin** growth of $7.4 million for the second quarter and $31.2 million year to date, representing a 9.6 percent growth rate for the six months ended June 30, 2026, driven largely by transmission expansion projects, regulatory initiatives and infrastructure programs, natural gas organic growth, and improved contributions from unregulated businesses.  The Company is increasing its 2026 capital guidance range to $550 - $600 million in light of advances on various capital projects , /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) ("Chesapeake Utilities" or the "Company") today announced financial results for the three and six months ended June 30, 2026.

Additional highlights include:

Announced the Florida Energy Pathway ("FEP") project, a $1.2 billion natural gas pipeline project in south Florida with approximately 250,000 Dts/d of committed capacity; targeted in-service date in 2030 Increased capacity under the Company's revolving credit facility to $650 million to support capital investment growth Capital investment of $139.7 million during the second quarter of 2026, bringing the year-to-date total to $261.6 million Interim rates of $16.2 million on an annualized basis, effective in July 2026, were approved by the Florida Public Service Commission ("PSC") in connection with the Company's ongoing FCG rate case "Our second quarter results demonstrate consistent operational and financial performance as we make substantial progress on transforming for the next phase of sustained enterprise growth," said Jeff Householder, the Company's Chair of the Board, President and Chief Executive Officer. "We are also excited to be moving forward with the Florida Energy Pathway infrastructure project. This represents a significant investment opportunity to bring capacity and reliability to south Florida and support long-term growth across the state."

Earnings and Capital Investment Guidance

The Company is increasing its 2026 capital expenditure guidance by $100 million to $550 - $600 million, driven primarily by increases in transmission (including initial investments in FEP), distribution and infrastructure investments.

The Company had previously issued long-term capital guidance for the 2024 - 2028 period of $1.5 - $1.8 billion. Given a robust capital investment program to date and the recently announced FEP project, the Company expects to achieve capital investment of approximately $1.4 billion through 2026 and total investment exceeding $2.2 billion for the five-year period ended 2028. The Company also continues to reaffirm its 2028 earnings guidance of $7.75 - $8.00 per share.

As the Company continues discussions with potential partners for the FEP project and makes additional progress on its long-term investment opportunities, the Company expects to provide a long-term guidance update during its Full-Year 2026 earnings call in February 2027. At that time, the Company expects to provide a capital guidance range and EPS growth rate for the 2027 - 2031 period.

*Unless otherwise noted, EPS and Adjusted EPS information are presented on a diluted basis.

Non-GAAP Financial Measures

**This press release including the tables herein, include references to both Generally Accepted Accounting Principles ("GAAP") and non-GAAP financial measures, including Adjusted Gross Margin, Adjusted Net Income and Adjusted EPS. A "non-GAAP financial measure" is generally defined as a numerical measure of a company's historical or future performance that includes or excludes amounts, or that is subject to adjustments, so as to be different from the most directly comparable measure calculated or presented in accordance with GAAP. The Company's management believes certain non-GAAP financial measures, when considered together with GAAP financial measures, provide information that is useful to investors in understanding period-over-period operating results separate and apart from items that may, or could, have a disproportionately positive or negative impact on results in any particular period.

The Company calculates Adjusted Gross Margin by deducting the purchased cost of natural gas, propane and electricity and the cost of labor spent on direct revenue-producing activities from operating revenues. The costs included in Adjusted Gross Margin exclude depreciation and amortization and certain costs presented in operations and maintenance expenses in accordance with regulatory requirements. The Company calculates Adjusted Net Income and Adjusted EPS by deducting costs and expenses associated with significant acquisitions that may affect the comparison of period-over-period results. These non-GAAP financial measures are not in accordance with, or an alternative to, GAAP and should be considered in addition to, and not as a substitute for, the comparable GAAP measures. The Company believes that these non-GAAP measures are useful and meaningful to investors as a basis for making investment decisions, and provide investors with information that demonstrates the profitability achieved by the Company under allowed rates for regulated energy operations and under the Company's competitive pricing structures for unregulated energy operations. The Company's management uses these non-GAAP financial measures in assessing a business unit and Company performance. Other companies may calculate these non-GAAP financial measures in a different manner.

The following tables reconcile Gross Margin, Net Income, and EPS, all as defined under GAAP, to the Company's non-GAAP measures of Adjusted Gross Margin, Adjusted Net Income and Adjusted EPS for each of the periods presented.

Adjusted Net Income and Adjusted EPS

Three Months Ended

Six Months Ended

June 30,

June 30,

(dollars in millions, shares in thousands (except per share data))

2026

2025

2026

2025

Net Income (GAAP)

$         25.4

$         23.9

$         84.7

$         74.8

FCG transaction and transition-related expenses, net (1)



0.4



0.6

Adjusted Net Income (Non-GAAP)

$         25.4

$         24.3

$         84.7

$         75.4

Weighted average common shares outstanding - diluted

24,174

23,402

24,115

23,223

Earnings Per Share - Diluted (GAAP)

$         1.05

$         1.02

$         3.51

$         3.22

FCG transaction and transition-related expenses, net (1)



0.02



0.03

Adjusted Earnings Per Share - Diluted (Non-GAAP)

$         1.05

$         1.04

$         3.51

$         3.25

(1) Transaction and transition-related expenses represent non-recurring costs incurred attributable to the acquisition and integration of FCG including, but not limited to, transition services, consulting, system integration, rebranding, and legal fees.

Financial Summary Highlights

Key variances between the second quarter of 2025 and 2026 included:

(in millions, except per share data)

Pre-tax

Income

Net

Income

Earnings

Per Share

Three Months Ended June 30, 2025 Adjusted Results (1)

$      33.3

$       24.3

$       1.04

Change in Adjusted Gross Margins:

Natural gas transmission service expansions, including interim services (2)

4.9

3.6

0.15

Contributions from regulated infrastructure programs (2)

3.2

2.4

0.10

Natural gas growth including conversions (excluding service expansions)

2.0

1.4

0.06

Increased propane margins and service fees

1.5

1.1

0.05

Increased Aspire Energy performance - rate changes and gathering fees

0.4

0.3

0.01

Change in off-system natural gas capacity sales

0.3

0.2



Decreased CNG/RNG/LNG services

(1.0)

(1.0)

(0.04)

Absence of recovered costs associated with Hurricane Michael (3)

(1.9)

(1.4)

(0.06)

Changes in customer consumption

(2.7)

(2.0)

(0.08)

6.7

4.6

0.19

Change in Operating Expenses (Excluding Natural Gas, Propane, and
Electric Costs):

Depreciation, amortization and property taxes

(3.5)

(2.6)

(0.11)

Credit, collections and customer service costs

(1.3)

(0.9)

(0.04)

Payroll, benefits and other employee-related expenses

(1.2)

(0.8)

(0.03)

Facilities expenses, maintenance costs and outside services

(0.6)

(0.5)

(0.02)

Vehicle expenses

(0.5)

(0.3)

(0.02)

Insurance-related costs

(0.4)

(0.2)

(0.01)

Absence of amortization of costs associated with Hurricane Michael recovery (3)

1.9

1.3

0.06

(5.6)

(4.0)

(0.17)

Interest charges

(0.6)

(0.4)

(0.02)

Increase in shares outstanding due to 2025 and 2026 equity offerings (4)





(0.03)

Net other changes

1.2

0.9

0.04

0.6

0.5

(0.01)

Three Months Ended June 30, 2026 Adjusted Results (1)

$      35.0

$       25.4

$       1.05

(1)  Transaction and transition-related expenses attributable to the acquisition and integration of FCG have been excluded from the Company's non-GAAP measures of adjusted net income and adjusted EPS. See reconciliations above for a detailed comparison to the related GAAP measures.

(2)  Refer to the Major Projects and Initiatives table below for additional information.

(3)  The current period includes offsetting reductions in both adjusted gross margin and depreciation and amortization expense related to the absence of recovered costs associated with Hurricane Michael.

(4)  Reflects the impact of approximately 0.6 million common shares issued under the dividend reinvestment and direct stock purchase plan ("DRIP/DSPP") and at the market ("ATM") program.

Key variances between the six months ended June 30, 2025 and June 30, 2026 included:

(in millions, except per share data)

Pre-tax

Income

Net

Income

Earnings

Per Share

Six months ended June 30, 2025 Adjusted Results (1)

$     103.0

$       75.4

$       3.25

Change in Adjusted Gross Margins:

Natural gas transmission service expansions, including interim services (2)

11.8

8.7

0.36

Contributions from regulated infrastructure programs (2)

8.7

6.4

0.27

Natural gas growth including conversions (excluding service expansions)

4.0

2.9

0.12

Rate changes associated with recent rate case activities (2)

4.1

3.0

0.13

Increased propane margins and service fees

1.8

1.3

0.05

Increased Aspire Energy performance - rate changes and gathering fees

1.8

1.3

0.05

Changes in customer consumption

1.8

1.3

0.06

Change in off-system natural gas capacity sales

1.4

1.0

0.04

Decreased CNG/RNG/LNG services

(1.2)

(0.9)

(0.04)

Absence of recovered costs associated with Hurricane Michael (3)

(3.9)

(2.8)

(0.12)

30.3

22.2

0.92

Change in Operating Expenses (Excluding Natural Gas, Propane, and
Electric Costs):

Payroll, benefits and other employee-related expenses

(7.8)

(5.7)

(0.24)

Depreciation, amortization and property taxes

(5.0)

(3.7)

(0.15)

Facilities expenses, maintenance costs and outside services

(3.7)

(2.7)

(0.11)

Credit, collections and customer service costs

(2.7)

(2.0)

(0.08)

Insurance-related costs

(0.6)

(0.4)

(0.02)

Vehicle expenses

(0.6)

(0.4)

(0.02)

Absence of amortization of costs associated with Hurricane Michael recovery (3)

3.9

2.8

0.12

(16.5)

(12.1)

(0.50)

Interest charges

(1.2)

(0.8)

(0.04)

Increase in shares outstanding due to 2025 and 2026 equity offerings (4)





(0.12)

Net other changes

0.1





(1.1)

(0.8)

(0.16)

Six months ended June 30, 2026 Adjusted Results (1)

$     115.7

$       84.7

$       3.51

(1) Transaction and transition-related expenses attributable to the acquisition and integration of FCG have been excluded from Company's non-GAAP measures of adjusted net income and adjusted EPS. See reconciliations above for a detailed comparison to the related GAAP measures.

(2)  Refer to the Major Projects and Initiatives table below for additional information.

(3) The current period includes offsetting reductions in both adjusted gross margin and depreciation and amortization expense related to the absence of recovered costs associated with Hurricane Michael.

(4)  Reflects the impact of approximately 0.6 million common shares issued under the Company's DRIP/DSPP and ATM program.

Major Projects and Initiatives (ongoing and recently completed)

The Company continues to execute on its strategic plan driving significant investment in its service territories. A summary table of major project and initiatives is presented below with a comprehensive discussion of each of the items presented in the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2026.

Adjusted Gross Margin

Three Months Ended

Six Months Ended

Year Ended

Estimate for

June 30,

June 30,

December 31,

Fiscal

(in millions)

2026

2025

2026

2025

2025

2026

2027

Pipeline Expansions:

St. Cloud / Twin Lakes
Expansion

$     1.0

$     0.8

$      2.0

$      0.9

$          2.9

$      3.8

$      3.8

Wildlight

1.1

0.5

2.2

1.0

2.6

4.3

4.3

Worcester Resiliency Upgrade

0.4



0.8



0.3

1.5

17.1

Boynton Beach

0.9

0.9

1.8

1.4

3.0

3.4

3.4

New Smyrna Beach

0.6

0.3

1.2

0.3

1.6

2.6

2.6

Central Florida Reinforcement

1.1

0.3

2.2

0.6

2.6

4.3

4.3

Renewable Natural Gas
Supply Projects

1.2

0.5

2.5

0.5

2.5

5.4

6.4

Miami Inner Loop

1.9



3.8



2.8

7.6

7.6

Duncan Plains













1.1

Total Pipeline Expansions

8.2

3.3

16.5

4.7

18.3

32.9

50.6

Regulatory Initiatives:

Florida GUARD program

2.6

1.7

5.0

3.2

7.1

10.9

13.0

FCG SAFE Program

2.9

2.2

5.7

3.9

8.4

12.7

16.4

Capital Cost Surcharge
Programs

2.3

1.4

4.6

2.9

5.7

9.0

10.1

Electric Storm Protection Plan

1.8

1.5

5.1

2.6

6.4

9.7

10.4

Florida Mandatory Relocates

0.4



0.9





1.5

1.5

Infrastructure Subtotal

10.0

6.8

21.3

12.6

27.6

43.8

51.4

Rate Case

Maryland Rate Case (1)

0.7

0.6

2.0

0.6

1.5

3.5

3.5

Delaware Rate Case (1)

1.3

1.4

3.4

2.2

4.7

6.1

6.1

Electric Rate Case (1)

2.1

2.1

4.3

2.8

7.3

8.6

9.1

FCG Rate Case











TBD

TBD

     Rate Case Subtotal

4.1

4.1

9.7

5.6

13.5

18.2

18.7

Total Regulatory Initiatives

14.1

10.9

31.0

18.2

41.1

62.0

70.1

Total

$    22.3

$    14.2

$     47.5

$     22.9

$         59.4

$     94.9

$   120.7

(1) Includes adjusted gross margin attributable to interim and permanent rates.

Chesapeake Utilities Corporation and Subsidiaries

Condensed Consolidated Statements of Income (Unaudited)

Three Months Ended

Six Months Ended

June 30,

June 30,

2026

2025

2026

2025

(in millions, except shares (thousands) and per share data)

Operating Revenues

   Regulated Energy

$      164.3

$     151.8

$     413.6

$     351.4

Unregulated Energy

45.2

47.9

158.9

154.6

Other Businesses and Eliminations

(7.6)

(6.9)

(17.5)

(14.5)

Total Operating Revenues

201.9

192.8

555.0

491.5

Operating Expenses

  Regulated natural gas and electricity costs

39.6

34.1

141.2

105.6

  Unregulated propane and natural gas costs

12.1

15.9

57.4

60.7

  Operations

57.7

54.9

125.0

112.9

  Maintenance

7.0

6.0

15.0

11.4

  Depreciation and amortization

22.9

21.9

44.4

44.4

  Other taxes

9.7

9.2

19.7

18.6

  FCG transaction and transition-related expenses



0.5



0.8

Total Operating Expenses

149.0

142.5

402.7

354.4

Operating Income

52.9

50.3

152.3

137.1

Other income, net

0.5

0.4

0.5

1.0

Interest charges

18.4

17.8

37.1

35.9

Income Before Income Taxes

35.0

32.9

115.7

102.2

Income taxes

9.6

9.0

31.0

27.4

Net Income

$       25.4

$       23.9

$       84.7

$       74.8

Weighted Average Common Shares Outstanding:

Basic

24,056

23,307

23,997

23,133

Diluted

24,174

23,402

24,115

23,223

Earnings Per Share of Common Stock:

Basic

$       1.06

$       1.03

$       3.53

$       3.23

Diluted

$       1.05

$       1.02

$       3.51

$       3.22

Adjusted Net Income and Adjusted Earnings Per Share

Net Income (GAAP)

$       25.4

$       23.9

$       84.7

$       74.8

FCG transaction and transition-related expenses, net (1)



0.4



0.6

Adjusted Net Income (Non-GAAP)**

$       25.4

$       24.3

$       84.7

$       75.4

Earnings Per Share - Diluted (GAAP)

$       1.05

$       1.02

$       3.51

$       3.22

FCG transaction and transition-related expenses, net (1)



0.02



0.03

Adjusted Earnings Per Share - Diluted (Non-GAAP)**

$       1.05

$       1.04

$       3.51

$       3.25

(1) Transaction and transition-related expenses represent costs incurred attributable to the acquisition and integration of FCG including, but not limited to, transition services, consulting, system integration, rebranding and legal fees.

Chesapeake Utilities Corporation and Subsidiaries

Condensed Consolidated Balance Sheets (Unaudited)

Assets

June 30,
2026

December 31,
2025

(in millions, except shares and per share data)

Property, Plant and Equipment

Regulated Energy

$         3,076.1

$         2,941.6

Unregulated Energy

514.3

492.4

Other Businesses and Eliminations

43.0

38.3

Total property, plant and equipment

3,633.4

3,472.3

Less: Accumulated depreciation and amortization

(657.5)

(637.6)

Plus: Construction work in progress

376.6

283.7

Net property, plant and equipment

3,352.5

3,118.4

Current Assets

Cash and cash equivalents

0.4

1.8

Trade and other receivables

100.2

106.9

Less: Allowance for credit losses

(7.9)

(5.4)

Trade and other receivables, net

92.3

101.5

Accrued revenue

30.5

50.1

Propane inventory, at average cost

6.6

8.8

Other inventory, at average cost

17.1

17.9

Regulatory assets

19.6

29.7

Storage gas prepayments

2.9

4.5

Prepaid expenses

15.5

19.7

Derivative assets, at fair value

0.2



Other current assets

2.9

3.0

Total current assets

188.0

237.0

Deferred Charges and Other Assets

Goodwill

507.5

507.5

Other intangible assets, net

12.5

13.2

Investments, at fair value

18.7

17.2

Derivative assets, at fair value

0.1



Operating lease right-of-use assets

8.9

9.9

Regulatory assets

72.9

74.3

Receivables and other deferred charges

12.7

17.3

Total deferred charges and other assets

633.3

639.4

Total Assets

$         4,173.8

$         3,994.8

Chesapeake Utilities Corporation and Subsidiaries

 Condensed Consolidated Balance Sheets (Unaudited)

Capitalization and Liabilities

June 30,
2026

December 31,
2025

(in millions, except shares and per share data)

Capitalization

Stockholders' equity

Preferred stock, par value $0.01 per share (authorized 2,000,000 shares),
no shares issued and outstanding

$              —

$               —

Common stock, par value $0.4867 per share (authorized 75,000,000
shares)

11.7

11.6

Additional paid-in capital

986.7

962.8

Retained earnings

676.7

626.8

Accumulated other comprehensive loss

(1.7)

(2.7)

Deferred compensation obligation

17.5

12.6

Treasury stock

(17.5)

(12.6)

Total stockholders' equity

1,673.4

1,598.5

Long-term debt, net of current maturities

1,317.9

1,327.1

Total capitalization

2,991.3

2,925.6

Current Liabilities

Current portion of long-term debt

131.7

134.6

Short-term borrowing

238.1

158.0

Accounts payable

93.6

115.2

Customer deposits and refunds

50.2

45.1

Accrued interest

8.8

8.7

Dividends payable

17.7

16.4

Accrued compensation

13.0

21.6

Regulatory liabilities

16.3

14.5

Derivative liabilities, at fair value

0.3

0.8

Other accrued liabilities

25.0

15.0

Total current liabilities

594.7

529.9

Deferred Credits and Other Liabilities

Deferred income taxes

346.6

313.3

Regulatory liabilities

203.3

188.1

Environmental liabilities

3.2

2.9

Other pension and benefit costs

15.2

14.0

Derivative liabilities, at fair value

0.1

0.6

Operating lease - liabilities

7.0

7.9

Deferred investment tax credits and other liabilities

12.4

12.5

Total deferred credits and other liabilities

587.8

539.3

Environmental and other commitments and contingencies (1)

Total Capitalization and Liabilities

$         4,173.8

$         3,994.8

(1) Refer to Note 6 and 7 in the Company's Quarterly Report on Form 10-Q for further information.

Adjusted Gross Margin

Three Months Ended June 30, 2026

(in millions)

Regulated Energy

Unregulated
Energy

Other Businesses
and Eliminations

Total

Operating Revenues

$               164.3

$                 45.2

$                 (7.6)

$               201.9

Cost of Sales:

Natural gas, propane and
electric costs

(39.6)

(19.8)

7.7

(51.7)

Depreciation & amortization

(17.3)

(5.6)



(22.9)

Operations & maintenance
expenses (1)

(15.5)

(10.4)



(25.9)

Gross Margin (GAAP)

91.9

9.4

0.1

101.4

Operations & maintenance
expenses (1)

15.5

10.4



25.9

Depreciation & amortization

17.3

5.6



22.9

Adjusted Gross Margin (Non-
GAAP)

$               124.7

$                 25.4

$                  0.1

$               150.2

Three Months Ended June 30, 2025

(in millions)

Regulated Energy

Unregulated
Energy

Other Businesses
and Eliminations

Total

Operating Revenues

$               151.8

$                 47.9

$                 (6.9)

$               192.8

Cost of Sales:

Natural gas, propane and
electric costs

(34.1)

(22.9)

7.0

(50.0)

Depreciation & amortization

(16.8)

(5.1)



(21.9)

Operations & maintenance
expenses (1)

(14.6)

(9.8)

0.4

(24.0)

Gross Margin (GAAP)

86.3

10.1

0.5

96.9

Operations & maintenance
expenses (1)

14.6

9.8

(0.4)

24.0

Depreciation & amortization

16.8

5.1



21.9

Adjusted Gross Margin (Non-
GAAP)

$               117.7

$                 25.0

$                  0.1

$               142.8

For the Six Months Ended June 30, 2026

(in millions)

Regulated Energy

Unregulated
Energy

Other Businesses
and Eliminations

Total

Operating Revenues

$               413.6

$               158.9

$                (17.5)

$               555.0

Cost of Sales:

Natural gas, propane and
electric costs

(141.2)

(74.9)

17.5

(198.6)

Depreciation & amortization

(33.4)

(11.0)



(44.4)

Operations & maintenance
expenses (1)

(32.2)

(21.3)

0.1

(53.4)

Gross Margin (GAAP)

206.8

51.7

0.1

258.6

Operations & maintenance
expenses (1)

32.2

21.3

(0.1)

53.4

Depreciation & amortization

33.4

11.0



44.4

Adjusted Gross Margin (Non-
GAAP)

$               272.4

$                 84.0

$                   —

$               356.4

For the Six Months Ended June 30, 2025

(in millions)

Regulated Energy

Unregulated
Energy

Other Businesses
and Eliminations

Total

Operating Revenues

$               351.4

$               154.6

$                (14.5)

$               491.5

Cost of Sales:

Natural gas, propane and
electric costs

(105.6)

(75.1)

14.4

(166.3)

Depreciation & amortization

(34.4)

(10.0)



(44.4)

Operations & maintenance
expenses (1)

(27.9)

(19.5)

0.7

(46.7)

Gross Margin (GAAP)

183.5

50.0

0.6

234.1

Operations & maintenance
expenses (1)

27.9

19.5

(0.7)

46.7

Depreciation & amortization

34.4

10.0



44.4

Adjusted Gross Margin (Non-
GAAP)

$               245.8

$                 79.5

$                 (0.1)

$               325.2

(1) Operations & maintenance expenses within the condensed consolidated statements of income are presented in accordance with regulatory requirements and to provide comparability within the industry. Operations & maintenance expenses which are deemed to be directly attributable to revenue producing activities have been separately presented above in order to calculate Gross Margin as defined under GAAP.

Forward-Looking Statements

Matters included in this release may include forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those in the forward-looking statements. Please refer to the Safe Harbor for Forward-Looking Statements in the Company's 2025 Annual Report on Form 10-K and as may be identified in subsequent Reports on Form 10-Q for further information on the risks and uncertainties related to the Company's forward-looking statements.

Conference Call

Chesapeake Utilities (NYSE: CPK) will host a conference call on Friday, August 7, 2026, at 8:30 a.m. Eastern Time to discuss the Company's financial results for the three and six months ended June 30, 2026. To listen to the Company's conference call via live webcast, please visit the Events & Presentations section of the Investors page on www.chpk.com. For investors and analysts that wish to participate by phone for the question and answer portion of the call, please use the following dial-in information:

Toll-free: 800.245.3047
International: 203.518.9765
Conference ID: CPKQ226

A replay of the presentation will be made available on the previously noted website following the conclusion of the call.

About Chesapeake Utilities Corporation 

Chesapeake Utilities Corporation is a diversified energy delivery company, listed on the New York Stock Exchange. Chesapeake Utilities Corporation offers sustainable energy solutions through its natural gas transmission and distribution, electricity generation and distribution, propane gas distribution, mobile compressed natural gas utility services and solutions, and other businesses.

For more information, contact:

Lucia M. Dempsey
Head of Investor Relations
347.804.9067

SOURCE Chesapeake Utilities Corporation
2026-08-06 19:41 1mo ago
2026-08-06 14:56 1mo ago
Chesapeake Utilities schválila čtvrtletní dividendu 0,735 USD
CPK Chesapeake Utilities Corporation
FMP Stock News 78
Original source text
Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- At their meeting held yesterday, the Board of Directors of Chesapeake Utilities Corporation (NYSE: CPK) declared a quarterly cash dividend of $0.735 per share on the Company's common stock. The $0.735 per share dividend will be paid on October 5, 2026, to all shareholders of record at the close of business on September 14, 2026.

With this dividend, Chesapeake Utilities will have paid dividends to its shareholders without interruption for 65 years and since 2004, has increased its annualized dividend every year.

About Chesapeake Utilities Corporation:
Chesapeake Utilities Corporation is a diversified energy delivery company, listed on the New York Stock Exchange (NYSE: CPK). Chesapeake Utilities Corporation offers sustainable energy solutions through its natural gas transmission and distribution, electricity generation and distribution, propane gas distribution, mobile compressed natural gas utility services and solutions, and other businesses. For more information, visit www.chpk.com.

For more information, contact:
Lucia Dempsey
Head of Investor Relations
[email protected]
347-804-9067

SOURCE Chesapeake Utilities Corporation

Also from this source
2026-07-13 13:12 1mo ago
2026-07-13 08:04 1mo ago
Chesapeake Utilities oznámila projekt plynovodu Florida Energy Pathway
CPK Chesapeake Utilities Corporation
FMP Stock News 88
Original source text
,  /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) (the "Company" or "Chesapeake Utilities") and its subsidiary, Peninsula Pipeline Company ("PPC"), today announced the Florida Energy Pathway ("FEP"), a new intrastate natural gas infrastructure project in south Florida. This project will be developed, constructed and operated by PPC in order to expand natural gas transportation capacity to address regional supply constraints, enhance system reliability and extend natural gas infrastructure to serve homes and businesses.

FEP is anticipated to be a 24-inch intrastate natural gas pipeline originating in Palm Beach County and terminating in Miami-Dade County. The project is anchored by firm commitments totaling nearly 250,000 dekatherms per day from multiple investment grade shippers. Upstream capacity will be supplied by Florida Gas Transmission in conjunction with its Phase IX expansion. PPC is also accepting binding commitments with additional shippers for firm transportation service.

Total project investment is estimated to be approximately $1.2 billion, pending finalization of design and development activities. The project is anticipated to be in service in 2030, subject to final commissioning. Chesapeake Utilities is evaluating options for financing the project and intends to partner with one or more third parties to invest in and own up to 49% of the total project.

"Florida continues to lead the nation in population and economic growth, which drives increasing energy demand. In the south Florida area, this has led to significant energy supply constraints. Natural gas infrastructure expansions, including the Florida Energy Pathway project, play an important role in enabling regional growth, increasing natural gas capacity and supporting long-term energy independence," said Jeff Householder, Chesapeake Utilities chair of the board, president and chief executive officer.

"Florida Energy Pathway represents a long-term, regulated, organic growth opportunity and aligns strategically with our natural gas transportation expertise, above-average growth expectations and increased presence in south Florida following the acquisition of Florida City Gas. We are excited to bring this project online to serve our customers' needs and deliver energy that strengthens our local economies and communities."

Chesapeake Utilities will discuss this project in further detail and address its long-term capital investment expectations on its second quarter earnings call in August.

About Chesapeake Utilities Corporation
Chesapeake Utilities Corporation is a diversified energy delivery company, listed on the New York Stock Exchange. Chesapeake Utilities Corporation offers sustainable energy solutions through its natural gas transmission and distribution, electricity generation and distribution, propane gas distribution, mobile compressed natural gas utility services and solutions, and other businesses. For more information, visit www.chpk.com.

About Peninsula Pipeline Company
Peninsula Pipeline Company (PPC) is Chesapeake Utilities' intrastate transmission business in Florida. PPC provides transportation service that links interstate pipelines to local distribution systems, industrial customers and power generation facilities. For more information, visit www.peninsula-pipeline.com/.

Forward-Looking Statements 
Matters included in this release may include forward-looking statements that involve risks and uncertainties. Forward-looking statements include, but are not limited to, statements regarding project investment, timeline and financing. Actual results may differ materially from those in the forward-looking statements due to a number of factors, including uncontrollable authorization and construction impediments. Please refer to the Safe Harbor for Forward-Looking Statements in the Company's 2025 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the first quarter of 2026 for further information on the risks and uncertainties related to the Company's forward-looking statements.

Media
Alexander Nye
Director, Strategic Communications
727.754.0136
[email protected]

Investors
Lucia Dempsey
Head of Investor Relations
347.804.9067
[email protected]

SOURCE Chesapeake Utilities Corporation