Chesapeake Utilities Corporation Reports Record Results For Fiscal Year 2020; Updates Earnings And Capital Guidance
- Earnings Per Share ( EPS ) increased to $4.26 in 2020 from $3.96 in 2019
- 2020 EPS from continuing operations was a record $4.21, an increase of $0.49 or 13.2 percent over 2019
- Fourth quarter 2020 EPS from continuing operations increased $0.20, or 19.2 percent
- Expansion projects, customer growth, and pipeline replacement programs generated $15.5 million in additional gross margin for 2020
- Finalization of the Hurricane Michael regulatory proceeding resulted in $10.9 million in gross margin
- Acquisitions completed in 2019 and 2020 added $5.3 million in incremental gross margin
- Pipeline expansion projects and full year impact of acquisitions completed in 2020 are expected to further enhance growth going forward
SJI Reports 2020 Financial Results
Announces Renewable Natural Gas Investment
FOLSOM, NJ, Feb. 24, 2021 (GLOBE NEWSWIRE)
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Announces Renewable Natural Gas Investment
FOLSOM, NJ (February 24, 2021) – SJI (NYSE: SJI) today reported operating results for its 2020 full year and fourth quarter ended December 31, 2020. Highlights include:
2020 GAAP earnings of $1.62 per diluted share compared to $0.84 per diluted share in 2019
2020 Economic Earnings of $1.68 per diluted share compared to $1.12 per diluted share in 2019
2020 GAAP/Economic Earnings include $0.13 per diluted share in nonrecurring items adjustments for certain tax benefits ($.07), adjustments to SJG’s rate design ($.03) and pipeline supplier refunds ($.03)
Significant improvement in 2020 financial results, despite historic challenge of COVID pandemic, driven by increased profitability from Utility and Non-Utility operations