CHESAPEAKE UTILITIES CORPORATION REPORTS THIRD QUARTER EARNINGS

November 06, 2014

Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) today reported third quarter and nine months financial results. The Company’s net income for the three months ended September 30, 2014 was $3.2 million, or $0.22 per share. This represents a decrease of $699,000, or $0.05 per share, over the same quarter in 2013, due principally to the net impact of two non-recurring items in the third quarter of 2013. These two non-recurring items related to recovery of previously expensed litigation costs of $1.9 million, which was offset by an accrual of additional taxes other than income of $698,000. The net of these two items contributed $697,000 of net income, or $0.05 per share, to last year’s third quarter. Absent these non-recurring items, the Company’s net income remained unchanged quarter-over-quarter.

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