Chesapeake Utilities Raises CapEx Guidance, Reports Higher 2Q Revenue

Dow Jones

08/07

Chesapeake Utilities reported higher second-quarter revenue and raised its capital expenditure guidance.

The company posted net income of $25.4 million, or $1.05 a share, up from $23.9 million, or $1.02 a share, the year prior.

Adjusted earnings were $1.05 a share. Analysts polled by FactSet expected $1.07 a share.

Operating revenues rose to $201.9 million from $192.8 million. Wall Street expected $198.9 million.

The company increased its 2026 capital expenditure guidance by $100 million to $550 million to $600 million, driven primarily by increases in transmission, distribution and infrastructure investments.

The company reiterated its 2028 adjusted earnings guidance of $7.75 to $8 a share.

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