- Net income and earnings per share (“EPS”)* were $21.6 million and $0.89, respectively, for the third quarter of 2026 and $106.3 million and $4.40, respectively, for the nine months ended September 30, 2026 with a year-to-date growth rate of 8.4 percent on Adjusted EPS**
- Adjusted gross margin** growth of $11.5 million for the third quarter of 2026 and $42.7 million year to date, representing a 9.2 percent growth rate for the nine months ended September 30, 2026, driven largely by regulatory initiatives and infrastructure programs, transmission expansion projects, natural gas organic growth, improved contributions from our unregulated businesses, and increased customer consumption.
- Announced a joint venture agreement with NextEra Energy Resources to finance and own 49 percent of the Florida Energy Pathway (“FEP”) project, a $1.2 billion, 97-mile intrastate natural gas transmission infrastructure project that supports energy reliability in South Florida.
Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) (“Chesapeake Utilities” or the “Company”) today announced financial results for the three and nine months ended September 30, 2026.
Additional highlights include:
- Invested $151.2 million of capital during the third quarter of 2026, bringing the year-to-date total to $412.8 million and on track to meet 2026 capital expenditure guidance of $550 – $600 million.
- Florida City Gas (“FCG”) interim rate increase of $16.2 million on an annualized basis became effective in July 2026 following approval by the Florida Public Service Commission. The Company participated in rate case hearings in late September and expects a final decision on the FCG rate case in December 2026.
- Established a new at-the-market equity offering program that provides the option to issue and sell up to $225 million of common stock to support the Company’s strategic growth initiatives in the coming years. This program includes forward sale agreements which provide additional financing optionality regarding pricing and timing of equity issuances.
“In the third quarter, we demonstrated continued earnings growth and made progress on the transformation of our business as we prepare for our next phase of growth and drive value for our customers and communities,” said Jeff Householder, the Company’s Chair of the Board, President and Chief Executive Officer. “We are also excited to move forward with the FEP project through a strategic partnership with NextEra Energy Resources, which supports our disciplined approach to capital deployment and infrastructure investment. We believe we are well positioned to expand natural gas transportation capacity to meet growing customer demands in one of the nation’s fastest-growing regions.
