Chesapeake Utilities FY 2023 adj EPS $5.31, up 5.4%; guides 2024 EPS $5.33-$5.45

CHESAPEAKE UTILITIES CORP

2023-FY EPS reported $4.73 revenue$670,604,000

Adjusted EPS for FY 2023 was $5.31 (up 5.4% vs $5.04); GAAP EPS $4.73 includes $0.58 FCG acquisition costs.
Q4 2023 adjusted EPS $1.64 (+12% YoY); GAAP EPS $1.26.
Completed FCG acquisition for $923.4M cash on Nov 30, 2023; adds ~120K customers in Florida.
Introduced 2024 EPS guidance $5.33-$5.45; reaffirmed 2025 $6.15-$6.35 and 2028 $7.75-$8.00.
Adjusted gross margin increased $33.9M in 2023; warmer weather reduced EPS by ~$0.54 for the year.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CHESAPEAKE UTILITIES CORP reported year and the fourth quarter ended December 31, 2023 results: net income adjusted net income** ... was $97.8 million, EPS Adjusted EPS** for the year ended December 31, 2023 was $5.31. Guidance reaffirmed.

Period: year and the fourth quarter ended December 31, 2023
Net income: adjusted net income** ... was $97.8 million
EPS: Adjusted EPS** for the year ended December 31, 2023 was $5.31
Guidance: reaffirmed
Result: reported results

Exact text from the filing

For 2023, adjusted net income**, which excludes transaction-related expenses related to the acquisition of FCG, was $97.8 million compared to $89.8 million in 2022, representing approximately 9 percent growth. Adjusted EPS** for the year ended December 31, 2023 was $5.31 compared to $5.04 per share reported in the prior-year, representing growth of more than 5 percent.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CHESAPEAKE UTILITIES CORP reported twelve months ended December 31, 2023 results: EPS $4.73.

Period: twelve months ended December 31, 2023
EPS: $4.73
Result: reported results

Exact text from the filing

On February 21, 2024 , Chesapeake Utilities Corporation issued a press release announcing its financial results for the twelve months ended December 31, 2023.

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CHESAPEAKE UTILITIES CORP filing history →

Source: SEC EDGAR

accession 0001628280-24-005941

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