- 2017 net income totaled $58.1 million or $3.55 per share, including a one-time $0.87 per share deferred income tax benefit associated with the Tax Cuts and Jobs Act of 2017 (“TCJA”) and a $0.21 per share unrealized mark-to-market (“MTM”) loss on financial derivatives contracts
- Fourth quarter 2017 net income totaled $26.1 million, or $1.59 per share, including the onetime deferred income tax benefit and unrealized MTM loss
- Strong growth in natural gas distribution and transmission, propane and CHP plant operations generated $21.3 million in incremental gross margin* for 2017
- The first segment of Eastern Shore’s $117 million pipeline expansion project was placed into service during the fourth quarter
Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) (“Chesapeake Utilities” or the “Company”) today announced financial results for the year and the fourth quarter ended December 31, 2017. The Company’s net income for the year was $58.1 million, or $3.55 per share, an increase of $13.4 million, or $0.69 per share, compared to 2016.