Chesapeake Utilities Q1 net income rises

Chesapeake Utilities

06/05/2026 21:25

Overview

US diversified energy delivery firm's Q1 net income and EPS rose yr/yr

Adjusted gross margin grew 13%, driven by regulatory initiatives and infrastructure programs

Company reaffirmed 2026 and 2024-2028 capital expenditure and 2028 EPS guidance

Outlook

Chesapeake Utilities reaffirms 2026 capital expenditure guidance of $450 mln to $500 mln

Company maintains 2024-2028 capital expenditure target of $1.5 bln to $1.8 bln

Chesapeake Utilities reaffirms 2028 EPS guidance range of $7.75 to $8.00

Result Drivers

TRANSMISSION EXPANSIONS - Co said natural gas transmission system expansions to support increased distribution demand generated $6.9 mln in incremental adjusted gross margin

INFRASTRUCTURE PROGRAMS - Infrastructure programs to enhance reliability provided $5.5 mln of incremental adjusted gross margin

COLDER WEATHER - Colder weather produced $4.5 mln of incremental adjusted gross margin, largely in Delmarva service areas

Company press release: ID:nPn3pp7y5a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
$59.3 mln
Q1 Operating Income
$99.4 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the natural gas utilities peer group is "buy"

Wall Street's median 12-month price target for Chesapeake Utilities Corp is $147.50, about 17.2% above its May 5 closing price of $125.85

The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 19 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)