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Chesapeake Utilities Corporation reports developments from a diversified energy delivery business built around regulated and unregulated energy operations. The company distributes natural gas, electricity and propane, transmits natural gas, generates electricity and steam, and provides mobile compressed natural gas and other energy-related services.
Recurring updates cover earnings, adjusted gross margin, capital investment, regulatory initiatives, infrastructure programs, natural gas organic growth, transmission expansion projects, customer consumption, rate proceedings, dividends, and leadership or governance changes. Company-specific developments also include Florida City Gas, Peninsula Pipeline, Aspire Energy Express and other utility and pipeline operations subject to state utility commission or FERC oversight.
Chesapeake Utilities (NYSE: CPK) reported financial results for Q3 and the first nine months of 2022, achieving a year-to-date EPS of $3.58, a 3.8% increase from $3.45 in 2021. Net income for the quarter was $9.7 million, down from $12.5 million in Q3 2021, primarily due to one-time earnings impacts. Key growth drivers included pipeline expansions and higher demand for natural gas and propane. Rising interest rates affected earnings by decreasing EPS, which was also impacted by the absence of prior year gains. The company secured $80 million in financing to support growth.
Chesapeake Utilities Corporation (NYSE: CPK) will conduct a conference call on November 3, 2022, at 4:00 p.m. ET, to discuss its third-quarter financial results for the period ending September 30, 2022. The earnings press release will be issued on November 2, 2022, post-market close. Participants can join the call by dialing 877.224.1468 and referencing the financial results.
Chesapeake Utilities provides diverse energy solutions including natural gas and electricity services.
Chesapeake Utilities Corporation's affiliate, Marlin Compression, and the Port Fuel Center were awarded the CNG Implementation Energy Matters Award on Sept. 14, 2022. This recognition was given by Georgia Public Service Commission Vice Chairman Tim Echols during the Clean Energy Roadshow at Savannah State University. The award honors their collaboration on a significant CNG fueling station in Port Wentworth, Georgia, which opened in March and serves as one of the largest public access CNG stations on the East Coast.
Chesapeake Utilities Corporation's subsidiary, Sharp Energy, opened its first propane autogas fueling station in North Carolina on September 14, 2022. Located in Dunn, this station will serve as a cleaner fuel option for local truck fleets, contributing to reduced greenhouse gas emissions. This opening follows Sharp Energy's expansion into the Carolinas through acquisitions earlier this year. Additionally, Chesapeake Utilities made a $5,000 donation to the Beacon Rescue Mission in Dunn during the ceremony, emphasizing their commitment to community support.
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On August 4, 2022, Chesapeake Utilities Corporation (NYSE: CPK) declared a quarterly cash dividend of $0.535 per share, to be paid on October 5, 2022, to shareholders of record as of September 15, 2022. This marks 61 consecutive years of uninterrupted dividend payments, with annual increases since 2004. The company provides sustainable energy solutions through various services, including natural gas and electricity distribution. This consistent dividend payment reflects Chesapeake's commitment to shareholder value.
Chesapeake Utilities (NYSE: CPK) announced solid financial results for the second quarter and first half of 2022, with year-to-date earnings per share (EPS) rising to $3.04, a 10.5% increase year-over-year. Second-quarter EPS was $0.96, up 23.1% from $0.78 in the previous year, bolstered by a one-time $1.9 million gain. Growth stemmed from pipeline expansions, acquisitions, and increased customer consumption, despite challenges such as higher interest expenses and supply chain disruptions. The company reduced its 2022 capital expenditure guidance to $140-$175 million, but maintains long-term growth plans.
Chesapeake Utilities Corporation (NYSE: CPK) has appointed Sheree M. Petrone and Stephanie N. Gary to its Board of Directors, effective July 22, 2022. Petrone brings extensive energy sector experience from Dynegy Inc. and Exelon Corporation, while Gary serves as vice president of finance at TidalHealth. The Board emphasizes that their expertise will enhance strategic planning and support the company's growth in the evolving energy landscape. Both appointees express excitement about contributing to Chesapeake's sustainable growth and leadership in energy transition.
Chesapeake Utilities Corporation (NYSE: CPK) will host a conference call on August 4, 2022, at 4:00 p.m. ET to discuss its second quarter financial results for the period ending June 30, 2022. An earnings press release will be issued on August 3, 2022, after market close. The call can be accessed by dialing 877.224.1468, with details available on the company's website. Chesapeake Utilities provides diverse energy solutions, including natural gas, electricity, and propane services.
Chesapeake Utilities Corporation (NYSE: CPK) will host a live webcast on May 17, 2022, at 12:50 pm EST during the 2022 AGA Financial Forum. Presenters include CEO Jeff Householder, CFO Beth Cooper, and General Counsel Jim Moriarty. Participants will gain insights into the current projects and strategic initiatives aimed at driving future growth. To join the webcast, visit the Investors page on www.chpk.com or listen here. Chesapeake Utilities offers diverse energy solutions, focusing on sustainability.