Operator
Greetings, and welcome to the Chesapeake Utilities Corporation s First Quarter Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded Wednesday, May 5, 2021.
I would now like to turn the conference over to Beth Cooper, Executive Vice President and Chief Financial Officer. Please go ahead.
Beth W. Cooper
Executive Vice President, Chief Financial Officer and Assistant Corporate Secretary
Thank you, and good afternoon, everyone. We appreciate you joining us today to review our first quarter 2021 results.
We announced our financial results for the quarter yesterday. As you saw, our strong financial results indicate we continued growing and operating effectively, serving our customers, identifying and finalizing new investment projects and keeping our employees as safe as possible.
Chesapeake Utilities Corporation Reports First Quarter 2021 Results
- Earnings per share ( EPS ) from continuing operations was $1.96 for the first quarter of 2021, an increase of $0.19, or 10.7 percent, compared to $1.77 for the first quarter of 2020
- Strong performance driven by over $17 million in additional gross margin for the quarter
- Natural gas expansion projects, regulatory initiatives and contributions from 2020 acquisitions generated $7.2 million in additional gross margin during the quarter
- Return to more normal temperatures in the first quarter of 2021 increased gross margin by $6.4 million
- Capital investments of $48.7 million for the quarter align with the 2021 capital forecast
- Capital structure at the end of the first quarter of 2021 was 52 percent equity to total capitalization
Apr 22, 2021
It just so happened to be the day before Earth Day that stakeholders around the Port of Savannah gathered to hear details about a project that will encourage cleaner technologies for freight movement. Trucking company owners were among those who came to a Georgia conference center April 21 to learn about the Port Fuel Center, expected to open this year.
Out West, so-called Clean Trucks programs around the ports infamously have operated with a mix of mandates against older equipment and some incentivizing of equipment upgrades. Alongside such efforts, plain strong-arm politics, too, have been a side result, with such programs used cynically toward unionization goals, as
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