Chesapeake Utilities Corporation (CPK) Earnings
Chesapeake Utilities Corporation is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $1.09. CPK has beaten EPS estimates in 5 of its last 12 reported quarters (average surprise -4.9% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $2.38 | $2.47 | +3.8% | $353M | +3.9% |
| Feb 26, 2026 | $2.38 | $1.94 | -18.5% | $213M | -31.9% |
| Nov 6, 2025 | $0.90 | $0.82 | -8.9% | $180M | -23.6% |
| Aug 7, 2025 | $1.00 | $1.04 | +4.0% | $193M | +5.7% |
| Feb 26, 2025 | $1.67 | $1.63 | -2.4% | $215M | -9.6% |
| Nov 8, 2024 | $0.67 | $0.78 | +16.4% | $160M | -6.8% |
| Aug 8, 2024 | $0.80 | $0.82 | +2.5% | $166M | -14.7% |
| Feb 21, 2024 | $1.56 | $1.26 | -19.2% | $185M | +0.0% |
| Nov 2, 2023 | $0.63 | $0.53 | -15.9% | $132M | -8.1% |
| Aug 3, 2023 | $0.96 | $0.90 | -6.2% | $136M | -7.8% |
| May 3, 2023 | $2.11 | $2.04 | -3.3% | $218M | +36.9% |
| Feb 22, 2023 | $1.44 | $1.47 | +2.1% | $187M | +0.7% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Jeff Householder recognized Beth Cooper's retirement after 36 years of service and welcomed Jeff Sylvester as the incoming CFO. • Strong start to the year with 16% increase in adjusted net income and 11% increase in adjusted earnings per share. • $122 million of capital invested across the business by end of first quarter, in line with full year 2026 capital expenditure guidance of $450 to $500 million. • WRU LNG storage facility in Bishopville, Maryland had construction progress but winter weather affected schedule, expecting reduced margin contributions in 2026 but project on track to come online early next year. • Discussed various potential expansion opportunities including Delmarva regional enhancement, Eastern Shore natural gas system extension, Cape and Port of Canaveral LNG transportation and storage, and South Florida transmission capacity expansion. • Jim Moriarty discussed Florida City Gas rate case filing for base rate increase and stakeholder engagement. • Jeff Sylvester detailed financial results, key drivers of first quarter performance, and financing activities. • Beth Cooper discussed dividend increase and long-term earnings growth commitment.
Guidance
• Reaffirmed long-term earnings per share compounded annual growth rate of 8% through 2028 and 2028 earnings per share guidance of $7.75 to $8 per share. • Expect to revisit capital guidance range by February 2027. • Expect to issue $60 million of equity throughout full year 2026 using ATM and waiver programs. • Refinancing of first tranche of debt from Florida gas city gas acquisition expected to generate interest expense savings.
Segment performance
Regulated segment: Adjusted gross margin was approximately $148 million this quarter, up 15% from the first quarter of last year. Unregulated energy segment: Adjusted gross margin was 8% to approximately $59 million in the first quarter of 2026, primarily driven by higher propane consumption and strong performance in Ohio Aspire operations. Adjusted net income was approximately $59 million, up 16% from the first quarter of 2025. Adjusted earnings per share were $2.47 this quarter, an 11% increase over the first quarter of 2025. Commercial customer growth and above average residential customer growth: 3.3% in Delmarva, 2.2% for Florida Public Utilities, and 2% for Florida City Gas.
Analyst Q&A
Q: Did Jeff mention a new LNG storage exploration project in Florida in the Cape and is it for LNG delivery and not regasification?
A: Jeff mentioned looking at the opportunity around Cape Canaveral and the Port of Canaveral for LNG facility development to serve cruise ships and spaceport, with gas currently barged in from Jacksonville and truck deliveries, and looking at various property locations.
Q: Customer growth rate down a bit, should it be read into EPS for 2028?
A: Jeff said it's likely due to weather, especially in Delmarva and seasonal fluctuations in Florida, with home building activity on the books.
Q: Equity guidance for the year and color on equity assumptions for CapEx plan?
A: Expect to issue about $60 million plus of equity throughout 2026 using ATM and waiver programs, and will readdress capital guidance range in February 2027.
Q: Should we expect 2026 EPS guidance following decision on interim rates in Florida?
A: Expect additional margin information if there's a final rate case settlement this year, with earnings estimates built through the margin table.
Q: Any other opportunities like the Ohio data center project evolving?
A: Actively pursuing opportunities in current service areas like Ohio and Delmarva Peninsula for data center gas service.
Q: Catalysts for South Florida capacity expansion project?
A: Growth in population, customers, and demand in South Florida, with facilities in West Palm Beach area close to interstate transmission interconnections, looking to expand capacity.