NYSE$CPK
Chesapeake Utilities Corporation · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Chesapeake Utilities reported strong financial results driven by the acquisition of Florida City Gas, regulatory initiatives, and organic growth.
Chesapeake Utilities Corporation reported net income of $17.5 million, or $0.78 per share, for the third quarter of 2024. Adjusted net income was $18.1 million, or $0.80 per share, up 16% compared to the prior-year period. The results were driven by contributions from Florida City Gas, regulated infrastructure programs, pipeline expansion projects, and natural gas distribution businesses growth.
- Net income was $17.5 million and EPS was $0.78 for Q3 2024.
- Adjusted net income was $18.1 million and Adjusted EPS was $0.80 for Q3 2024, excluding FCG transaction and transition-related expenses.
- Adjusted gross margin growth of $89.3 million driven by FCG, regulatory initiatives, infrastructure programs, natural gas organic growth, pipeline expansion projects, and additional customer consumption.
- The Company continues to affirm 2024 EPS and capital guidance.
Headline financials
Revenue & EPS history
Chesapeake Utilities · Revenue · Quarterly
$160M
Forward guidance
The Company continues to affirm its 2024 EPS guidance of $5.33 to $5.45 in adjusted earnings per share and its capital expenditure guidance of $300 million to $360 million.
Tailwinds
- Incremental margin opportunities present across the Company’s businesses
- Investment opportunities within and surrounding FCG
- Regulatory initiatives
- Operating synergies
- Capital expenditure guidance for the five-year period ended 2028 that will range from $1.5 billion to $1.8 billion
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
-0.5%
Avg return
Earnings day
-0.2%
Avg return
5 days after
+0.9%
Avg return
30 days after
46%
30 / 65 earnings
Positive
+7.0%
Q1 2015
Best reaction
-11.6%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.0% | -0.3% | -2.1% | |
| Q4 2025 | -0.4% | +2.2% | -7.5% | |
| Q3 2025 | +1.6% | +1.2% | -3.0% | |
| Q1 2025 | -2.8% | -11.2% | -11.5% | |
| Q4 2024 | -0.2% | +0.5% | +1.1% | |
| Q3 2024 | +0.1% | +1.2% | +4.2% | |
| Q2 2024 | -1.0% | -0.9% | +2.9% | |
| Q1 2024 | +0.5% | -0.5% | -2.5% | |
| Q4 2023 | -1.2% | -4.0% | -0.2% | |
| Q3 2023 | +3.9% | -0.6% | +11.0% | |
| Q2 2023 | -3.8% | -4.4% | -5.8% | |
| Q1 2023 | +1.9% | +3.2% | +6.0% | |
| Q4 2022 | +2.1% | +3.8% | +2.4% | |
| Q3 2022 | -11.6% | -14.2% | -5.6% | |
| Q2 2022 | -1.8% | -2.5% | -6.7% | |
| Q1 2022 | +6.9% | +4.6% | +11.3% | |
| Q4 2021 | -2.5% | +1.7% | +2.9% | |
| Q3 2021 | +0.1% | +0.1% | -0.1% | |
| Q2 2021 | +1.1% | +0.2% | +1.7% | |
| Q1 2021 | -3.1% | -0.9% | -3.2% | |
| Q4 2020 | +2.4% | +3.3% | +13.0% | |
| Q3 2020 | +0.7% | +2.6% | +4.2% | |
| Q2 2020 | -0.3% | +2.5% | -4.2% | |
| Q1 2020 | -2.7% | +0.4% | +3.7% | |
| Q4 2019 | -4.9% | -3.5% | -13.5% | |
| Q3 2019 | -3.1% | -3.3% | +2.5% | |
| Q2 2019 | +0.4% | +1.7% | +3.4% | |
| Q1 2019 | -0.1% | +3.3% | +1.7% | |
| Q4 2018 | -0.9% | -0.4% | -0.0% | |
| Q3 2018 | +1.2% | +2.3% | +9.0% | |
| Q2 2018 | -2.8% | -0.1% | +4.9% | |
| Q1 2018 | +1.0% | +1.6% | +0.3% | |
| Q4 2017 | +1.6% | +2.2% | +3.5% | |
| Q3 2017 | +0.4% | +2.2% | +2.9% | |
| Q2 2017 | -0.4% | +0.3% | +0.8% | |
| Q1 2017 | -1.8% | -0.8% | +4.6% | |
| Q4 2016 | +1.5% | +0.1% | +1.6% | |
| Q3 2016 | -5.9% | -3.5% | +2.9% | |
| Q2 2016 | +1.3% | +3.8% | +0.0% | |
| Q1 2016 | +2.8% | — | — | |
| Q4 2015 | -4.1% | — | — | |
| Q3 2015 | -4.1% | — | — | |
| Q2 2015 | -8.1% | — | — | |
| Q1 2015 | +7.0% | — | — | |
| Q4 2014 | -1.4% | — | — | |
| Q3 2014 | -2.3% | — | — | |
| Q2 2014 | +1.6% | — | — | |
| Q1 2014 | +0.7% | — | — | |
| Q4 2013 | -1.3% | — | — | |
| Q3 2013 | -4.4% | — | — | |
| Q2 2013 | -3.3% | — | — | |
| Q1 2013 | +3.7% | — | — | |
| Q4 2012 | +1.7% | — | — | |
| Q3 2012 | -6.2% | — | — | |
| Q2 2012 | +1.5% | — | — | |
| Q1 2011 | +0.9% | — | — | |
| Q1 2012 | +1.3% | — | — | |
| Q4 2011 | +1.4% | — | — | |
| Q4 2009 | +1.4% | — | — | |
| Q3 2011 | -1.5% | — | — | |
| Q3 2010 | -1.5% | — | — | |
| Q2 2011 | -0.5% | — | — | |
| Q4 2010 | -0.5% | — | — | |
| Q2 2010 | -0.5% | — | — | |
| Q1 2010 | +5.5% | — | — |
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