Uncategorized News
Chesapeake Utilities Corporation Reports Second Quarter 2021 Results
Double digit earnings growth results in strong second quarter and year-to-date performance Earnings per share (“EPS”)* from continuing operations was $0.78 for the second quarter of 2021, an increase of $0.14, or 21.9 percent, compared to $0.64 for the second quarter of 2020 Year-to-date earnings from continuing operations increased to $2.75 per share from $2.41, for the prior year Strong performance driven by over $27 million in additional gross margin** for the first half of 2021 Natural gas expansion projects, regulatory initiatives and contributions from 2020 acquisitions generated $7.1 million and $14.9 million in additional gross margin during the second [...]
Chesapeake Utilities Corporation Names 2021 Aspiring Scholars
DOVER, DE – Chesapeake Utilities Corporation (NYSE: CPK) (Chesapeake Utilities) today announced the 2021 recipients of scholarship awards through the Company’s Aspiring Scholars Program. Twelve children of Company employees have been selected to receive $2,000 each in scholarship funds toward their study at an accredited college, university or post-secondary education technical school. “We are a family at Chesapeake Utilities, and by extension, so are the children of our employees,” said Beth Cooper, executive vice president and chief financial officer of Chesapeake Utilities Corporation and Chair of the Aspiring Scholars Committee. “Recognizing the importance of higher education, we are honored to [...]
Chesapeake Utilities Corporation Recognized by AGA for Commitment to Safety
DOVER, DE – Chesapeake Utilities Corporation (NYSE: CPK) today announced that three of its regulated gas businesses recently were recognized by the American Gas Association (AGA) for their ongoing commitment to safety. Chesapeake Utilities, Florida Public Utilities Company (FPUC) and Eastern Shore Natural Gas Company (ESNG) each were presented with an Industry Leader Accident Prevention Award for working safely in 2020. Each company achieved a total DART (Days Away Restricted or Transferred) incidence rate below the industry average. “Safety is priority one at Chesapeake Utilities Corporation. We care about creating a safe environment for our employees, customers and communities,” said [...]
Chesapeake Utilities Corporation Raises Dividend By 9.1 Percent
Dover, Delaware – At their meeting held today, the Board of Directors of Chesapeake Utilities Corporation (NYSE: CPK) voted to increase the quarterly cash dividend on the Company’s common stock from $0.44 per share to $0.48 per share. The Board’s action raises the 2021 annualized dividend $0.16 per share from $1.76 to $1.92 per share, a 9.1 percent increase. The $0.48 per share dividend will be payable July 6, 2021 to all shareholders of record at the close of business on June 15, 2021. “Despite the challenges that we as a company and country faced in 2020, the Company delivered [...]
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 [...]
Chesapeake Utilities Corporation Recognizes National Gas Workers’ Day
DOVER, DE – Chesapeake Utilities Corporation (NYSE: CPK) (Chesapeake Utilities) today recognizes its frontline gas employees in celebration of National Gas Workers’ Day. These employees work year-round to provide safe, resilient and reliable natural gas and propane gas service to customers in Delaware, Florida, Maryland, Ohio, Pennsylvania, Virginia, and West Virginia. Gas workers respond 24 hours a day, seven days a week, on weekends and holidays, and in all conditions to keep gas flowing because homes, businesses and industries depend on it. "Today, we celebrate the hard work of these women and men for both their contributions while on the [...]
Chesapeake Utilities Corporation Names Cheryl Martin Senior Vice President
DOVER, DE – Chesapeake Utilities Corporation (NYSE: CPK) today announced the promotion of Cheryl Martin to Senior Vice President of Regulatory and External Affairs for the Company. Ms. Martin is responsible for overseeing the Corporation’s regulatory, legislative, communications and community affairs initiatives throughout several states. She is also responsible for leading the Equity, Diversity, & Inclusion (EDI) efforts throughout the organization. “Cheryl’s inspiring leadership, hard work and dedication to all, has contributed greatly to our Company’s success,” said Jim Moriarty, Executive Vice President and General Counsel for Chesapeake Utilities Corporation. “This is a well-deserved promotion. I am confident that Cheryl [...]
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 [...]
CHESAPEAKE UTILITIES CORPORATION ANNOUNCES QUARTERLY DIVIDEND – 60 YEARS OF CONSECUTIVE DIVIDENDS PAID
Dover, Delaware – Today, the Board of Directors of Chesapeake Utilities Corporation (NYSE: CPK) declared a quarterly cash dividend of $0.44 per share on the Company’s common stock. The $0.44 per share dividend will be paid on April 5, 2021 to all shareholders of record at the close of business March 15, 2021. For 60 years, Chesapeake has paid dividends to its shareholders without interruption. During those 60 years, Chesapeake has either maintained or increased its annualized dividend. Chesapeake Utilities Corporation is a diversified energy company engaged in natural gas transmission and distribution; electricity generation and distribution; propane gas distribution; [...]
CHESAPEAKE UTILITIES CORPORATION TO HOST CONFERENCE CALL TO REVIEW FOURTH QUARTER AND ANNUAL 2020 FINANCIAL RESULTS
Dover, Delaware – Chesapeake Utilities Corporation (NYSE: CPK) will host a conference call on Thursday, February 25, 2021, at 4:00 p.m. ET to discuss the Company’s financial results for the fourth quarter and year ended December 31, 2020. The earnings press release will be issued on Wednesday, February 24, 2021, after the market closes. To participate in this call, dial 877.224.1468 and reference Chesapeake Utilities Corporation’s 2020 Financial Results Conference Call. To access the replay recording of this call, please visit the Company’s website at CPK - Conference Call Audio Replay. Chesapeake Utilities Corporation is a diversified energy company engaged [...]
Chesapeake Utilities Corporation Announces $75 Million At-The-Market Equity Offering Program
Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) (“Chesapeake Utilities” or the “Company”) today announced that it has established an at-the-market equity offering program (the “ATM Program”) under which it may, from time to time, sell shares of its common stock having an aggregate sales price of up to $75,000,000 (the “Shares”). Chesapeake Utilities has entered into an equity distribution agreement with each of RBC Capital Markets, LLC, BofA Securities, Wells Fargo Securities, LLC, Janney Montgomery Scott LLC, Guggenheim Securities, LLC, Maxim Group LLC, Sidoti & Company, LLC, and Siebert Williams Shank & Co., LLC (collectively, the “Sales Agents”), as sales [...]
Chesapeake Utilities Corporation Partners with Atlanta Gas Light to Build CNG Filling Station at Port of Savannah
DOVER, DE – Chesapeake Utilities Corporation (NYSE: CPK) (Chesapeake Utilities or the Company) today announced that the Company has entered into an agreement with Atlanta Gas Light (AGL), a wholly-owned subsidiary of Southern Company Gas, for AGL to construct and maintain a compressed natural gas (CNG) filling station at the Port Fuel Center located in Port Wentworth near the Port of Savannah in Georgia. The station will provide a strategic staging area and CNG supply source for the Company’s Marlin Gas Services subsidiary’s (Marlin) CNG virtual pipeline operations. Marlin is a premier North American supplier of mobile CNG utility and pipeline natural [...]
Chesapeake Utilities Corporation Named Top Workplace for Ninth Consecutive Year
Company one of only two companies to receive the honor nine consecutive years DOVER, DE – Chesapeake Utilities Corporation (NYSE: CPK) (Chesapeake Utilities) announced today that the Company has been recognized as a …
Fortistar Rumpke Waste Recycling and Chesapeake Utilities Corporation Announce Renewable Fuel Project in Ohio
NEW OHIO-BASED RENEWABLE FUEL PROJECT AIMS TO CAPTURE THE EQUIVALENT OF NEARLY 50K TONS OF CARBON TO DISPLACE DIESEL AND FUEL 725 BIOFUEL TRUCKS Fortistar, Rumpke Waste & Recycling and Chesapeake Utilities Corporation Announce $33 Million Project to Address Global Climate Change WHITE PLAINS, N.Y. (September 17, 2020) – Fortistar, a privately-owned investment firm that addresses global challenges, and Rumpke Waste & Recycling, one of the nation’s largest privately-owned residential and commercial waste and recycling firms, announced commencement of construction of the Noble Road Landfill Renewable Natural Gas (RNG) Project, a $33 million transportation decarbonization project in Shiloh, Ohio. The [...]
CHESAPEAKE UTILITIES CORPORATION ANNOUNCES DEFINITIVE MERGER AGREEMENT TO ACQUIRE GATHERCO, INC.
— Transaction Valued at approximately $59.2 million — Dover, Delaware – Chesapeake Utilities Corporation (NYSE: CPK) ("Chesapeake Utilities" or "Company") and Gatherco, Inc. ("Gatherco") today announced that they have entered into a merger agreement, dated as of January 30, 2015 under which Chesapeake Utilities will acquire Gatherco. Upon consummation of the transaction, Gatherco will merge into Aspire Energy of Ohio, LLC ("Aspire Energy"), a wholly-owned subsidiary of Chesapeake Utilities. The transaction was approved by the Gatherco Board of Directors and by Chesapeake Utilities’ Merger and Acquisition Committee. The merger, which is expected to close in the second quarter of [...]
