Chesapeake Utilities Q1 EPS $2.04 vs $2.08 YoY; net income $36.3M; guidance reaffirmed

CHESAPEAKE UTILITIES CORP

2023-Q1 EPS reported $2.04 revenue$218,129,000

Net income of $36.3M ($2.04 diluted EPS) vs $36.9M ($2.08) in Q1 2022; weather cut EPS by $0.29.
Florida natural gas base rate case finalized; new permanent rates effective March 1, 2023.
Organic residential customer growth of 5.8% (Delmarva) and 4.4% (Florida) driven by demand.
2025 EPS guidance reaffirmed at $6.15–$6.35; 2023 capital expenditure guidance $200M–$230M.
Higher interest costs and warmer weather offset by propane margins, CNG/RNG/LNG services and pipeline expansions.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CHESAPEAKE UTILITIES CORP reported the quarter ended March 31, 2023 results: net income $36.3 million, EPS $2.04 per share. Guidance reaffirmed.

Period: the quarter ended March 31, 2023
Net income: $36.3 million
EPS: $2.04 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

The Company's net income for the quarter ended March 31, 2023 was $36.3 million, compared to $36.9 million reported in the same quarter of 2022. Diluted EPS in the quarter was $2.04 per share, compared to $2.08 per share reported in the same prior-year period.

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Source: SEC EDGAR

accession 0001628280-23-015264

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