Chesapeake Utils Corp Stock Price, News & Analysis

Chesapeake Utilities (NYSE: CPK) reported strong Q1 2025 financial results with net income of $50.9 million ($2.21 per share), up from $46.2 million ($2.07 per share) in Q1 2024. Excluding FCG acquisition-related expenses, adjusted net income reached $51.1 million ($2.22 per share). The company saw an 11% growth in adjusted gross margin to $182.4 million, driven by increased customer consumption, regulatory initiatives, and infrastructure programs. Key highlights include: $113 million invested in transmission and infrastructure projects, advancement of three rate cases, and continued progress on business transformation. The company reaffirmed its 2025 EPS guidance of $6.15-$6.35 and 2028 EPS guidance of $7.75-$8.00, implying an 8% annual growth rate. Capital expenditure guidance for 2025 remains at $325-375 million, with a five-year (through 2028) projection of $1.5-1.8 billion.

Chesapeake Utilities Corporation (NYSE: CPK) has announced a 7% increase in its quarterly dividend from $0.64 to $0.685 per share. The new dividend will be payable on July 7, 2025, to shareholders of record as of June 16, 2025. This increase raises the 2025 annualized dividend by $0.18, from $2.56 to $2.74 per share.

The company has maintained an impressive track record of paying dividends without interruption for 64 years and has consistently increased its annualized dividend every year since 2004. CEO Jeff Householder emphasized that this increase aligns with their strategic growth plan focused on capital deployment, regulatory strategy management, and business operations transformation.

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Chesapeake Utilities (NYSE: CPK), a diversified energy delivery company, has scheduled its first quarter 2025 earnings conference call and webcast for May 8, 2025, at 8:00 a.m. ET. The company will release its financial results for Q1 ending March 31, 2024, after market close on May 7, 2025.

Investors and analysts can participate via webcast by registering online, or join the Q&A session by phone using the toll-free number 800-579-2543 (International: 785-424-1789) with Conference ID: CPKQ125. The presentation materials will be available through the Events & Presentations section of the Investors page on www.chpk.com, with a replay accessible after the call.

Chesapeake Utilities (NYSE: CPK) hosted its 2025 Investor Day at Kennedy Space Center, marking its first such event in seven years. The event, driven by increased investor interest following the Florida City Gas (FCG) acquisition in late 2023, showcased the company's growth strategy and future opportunities.

Key financial highlights include:

• 5-year capital expenditure guidance of $1.5 - $1.8 billion
• 2025 adjusted EPS guidance of $6.15 - $6.35, representing a 14-18% increase over 2024
• Significant growth expected in Florida and Delmarva service areas

The two-day event featured presentations on strategy, growth, and panel discussions covering capital deployment, regulatory initiatives, business transformation, and financial strategy. The company also highlighted growth opportunities in the Cape and Port of Canaveral region within FCG's service area.

Chesapeake Utilities (NYSE: CPK) marks a significant milestone as its subsidiary Aspire Energy of Ohio celebrates 10 years since the merger with Gatherco Inc. in April 2015. The company has enhanced its natural gas infrastructure and service delivery across Ohio over the past decade.

Aspire Energy operates an extensive network spanning 40 counties in Ohio, including over 2,300 miles of pipelines, six compressor stations, and three mechanical refrigeration units for natural gas liquids extraction. The company serves multiple local distribution companies and manages Consumers Gas Cooperative, serving over 10,000 members in Orrville, Ohio.

In 2020, the company established Aspire Energy Express (AEX), an intrastate pipeline company that connects the Rockies Express Gas Pipeline to the 1,875 MW Guernsey Power Station. With Ohio's manufacturing sector growth driving increased power generation demands, Aspire Energy is positioned to expand its service territory through infrastructure additions and investments.

Chesapeake Utilities (NYSE: CPK) has received its first investment grade credit rating from Fitch Ratings. The company was assigned a BBB+ Long-Term Issuer Default Rating with a Stable outlook, while its senior unsecured debt received an A- instrument rating.

Beth Cooper, Executive Vice President, Chief Financial Officer, highlighted the company's track record of delivering top-tier investor returns through significant capital investment while maintaining prudent balance sheet management. The investment grade rating is expected to enable more efficient capital raising to support future growth plans.

Chesapeake Utilities (NYSE: CPK) has inaugurated its second Safety Town training facility in DeBary, Florida, with a ribbon-cutting ceremony on February 27, 2025. The one-acre state-of-the-art center mirrors the company's Dover, Delaware facility and features specialized training environments for gas-related operations.

The facility includes simulations for hit line and gas leaks, service hook-ups, utility locating, leak detection, and corrosion monitoring. It is equipped with technology-enabled training rooms, storage areas, and multiple training houses for real-life safety scenarios. The curriculum covers emergency response, infrastructure maintenance, underground utility operations, and propane tank training.

During the opening ceremony, CPK presented a $10,000 donation to the Florida Fire Chiefs' Association Foundation. The facility will serve as a training resource for both company employees and local first responders, featuring natural gas and electric mobile training units for on-site safety training throughout their service territories.

Chesapeake Utilities (NYSE: CPK) reported strong financial results for fiscal year 2024. Net income reached $118.6 million ($5.26 per share), compared to $87.2 million ($4.73 per share) in 2023. Adjusted net income, excluding Florida City Gas (FCG) acquisition-related expenses, was $121.5 million ($5.39 per share).

The company's performance was driven by FCG contributions, regulatory initiatives, infrastructure programs, natural gas distribution growth, pipeline expansion projects, and increased virtual pipeline services. Capital expenditures totaled $356 million in 2024, near the top end of guidance.

Looking forward, Chesapeake Utilities reaffirmed its 2025 EPS guidance of $6.15-$6.35 and 2028 EPS guidance of $7.75-$8.00, implying an 8% annual growth rate. The company projects capital expenditures of $325-375 million for 2025 and maintains its five-year capital guidance of $1.5-1.8 billion through 2028.

Chesapeake Utilities (NYSE: CPK) has declared a quarterly cash dividend of $0.64 per share on its common stock. The dividend will be paid on April 7, 2025 to shareholders of record at the close of business on March 14, 2025.

The company maintains a remarkable dividend track record, having paid dividends without interruption for 64 years and consistently increased its annualized dividend every year since 2004.