CHESAPEAKE UTILITIES CORP SEC 10-Q Report

Chesapeake Utilities Corp, a diversified energy company engaged in natural gas distribution, transmission, and electric distribution operations, has released its Form 10-Q report for the second quarter of 2025. The report highlights significant financial growth and operational achievements, underscoring the company's robust performance in both regulated and unregulated energy segments.

Financial Highlights

• Total Operating Revenues: $192.8 million, reflecting an increase from $166.3 million in the prior year period, driven by growth in both Regulated and Unregulated Energy segments.
• Operating Income: $50.3 million, up from $40.8 million in the previous year, indicating improved operational efficiency.
• Net Income: $23.9 million, compared to $18.2 million in the same period last year, showcasing strong bottom-line growth.
• Basic Earnings Per Share: $1.03, an increase from $0.82, highlighting enhanced shareholder value.
• Diluted Earnings Per Share: $1.02, up from $0.82, reflecting the company's improved profitability.

Business Highlights

• Revenue Segments: The Regulated Energy segment, which includes natural gas distribution, natural gas transmission, and electric distribution operations, reported operating revenues of $151.8 million for the three months ended June 30, 2025. The Unregulated Energy segment, which includes energy transmission, energy generation, propane distribution, and other unregulated services, reported operating revenues of $47.9 million for the same period.
• Geographical Performance: The Florida natural gas distribution and Florida City Gas divisions showed strong performance with revenues of $46.6 million and $39.5 million, respectively, for the three months ended June 30, 2025. The Maryland natural gas division also contributed significantly with $10.7 million in revenues.
• Sales Units: The propane delivery operations reported sales of 26.5 million gallons for the three months ended June 30, 2025, reflecting a decrease from the previous year.
• New Production Launches: The New Smyrna Beach project was placed into service in May 2025, enhancing the infrastructure to support increased supply to coastal Florida communities experiencing significant population growth.
• Future Outlook: The company anticipates continued growth in its regulated energy segment, driven by ongoing infrastructure projects and regulatory approvals. The completion of the Boynton Beach project in the fourth quarter of 2025 is expected to further bolster supply capabilities in Florida.
• Operational Efficiency: The integration of the FCG acquisition, completed in November 2023, continues to contribute to operational efficiencies and cost savings, with transaction and transition-related expenses being managed effectively.

SEC Filing: CHESAPEAKE UTILITIES CORP [ CPK ] - 10-Q - Aug. 07, 2025