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
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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
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