earnings
confidence high
sentiment positive
materiality 0.85
Chesapeake Utilities Q2 EPS $1.05, raises 2026 capex to $550-600M, unveils $1.2B FEP project
CHESAPEAKE UTILITIES CORP
- Q2 net income $25.4M ($1.05 diluted EPS); YTD net income $84.7M ($3.51 diluted EPS).
- Adjusted gross margin grew $31.2M YTD (+9.6%); Adjusted EPS growth 8.0% YTD.
- 2026 capex guidance raised to $550-600M; expects >$2.2B total investment 2024-2028.
- Announced $1.2B Florida Energy Pathway pipeline project; targeted in-service 2030.
- Revolving credit facility increased to $650M; interim rates of $16.2M annualized approved in Florida.