Chesapeake Utilities Corporation reports third quarter net income of $19.4 million
Reuters
Nov 07
Chesapeake Utilities Corporation reports third quarter net income of $19.4 million
Chesapeake Utilities Corporation reported a net income of $19.4 million and earnings per share $(EPS)$ of $0.82 for the third quarter of 2025. For the nine months ended September 30, 2025, net income was $94.2 million with EPS at $4.03. Adjusted net income, which excludes transaction and transition-related expenses from the acquisition and integration of Florida City Gas, was $19.5 million with adjusted EPS of $0.82 for the quarter, and $94.9 million with adjusted EPS of $4.06 for the nine months period. Adjusted gross margin grew by $15.2 million in the third quarter and $49.3 million for the nine months, driven primarily by growth in natural gas, transmission expansion projects, regulatory initiatives, and increased services in compressed natural gas, renewable natural gas, and liquefied natural gas. The company reaffirmed its 2025 adjusted EPS guidance of $6.15 to $6.35 and increased its 2025 capital guidance range to $425 million to $450 million. Major business developments included completion of a Delaware rate case settlement and the initiation of a multi-year Enterprise Resource Plan process.
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