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