Earnings ·
Chesapeake Utilities Corporation reported second quarter and year-to-date financial results for the period ended June…
CPKChesapeake Utilities Corp
Chesapeake Utilities Corporation reported second quarter and year-to-date financial results for the period ended June 30, 2026. The company posted net income of $25.4 million ($1.05 diluted EPS) for Q2 and $84.7 million ($3.51 diluted EPS) year-to-date. Adjusted EPS grew 8.0% year-over-year on a YTD basis, driven by transmission expansion projects, regulatory initiatives, and organic natural gas growth. The company announced the Florida Energy Pathway (FEP), a $1.2 billion natural gas pipeline project in south Florida with a targeted in-service date of 2030. Chesapeake increased its 2026 capital expenditure guidance to $550–$600 million and raised its revolving credit facility capacity to $650 million. Additionally, the Florida Public Service Commission approved interim rates totaling $16.2 million on an annualized basis for its Florida City Gas unit, effective July 2026. The company operates in the regulated energy sector, providing natural gas distribution, electric utility services, and unregulated propane and energy solutions.