• Third quarter net income totaled $5.5 million or $0.34 per share
  • Eastern Shore Natural Gas Company (“Eastern Shore”) and Peninsula Pipeline Company (“Peninsula Pipeline”) expansions added $3.6 million in gross margin* for the quarter
  • Continued growth in the natural gas transmission operations during the third quarter was offset by seasonality, slightly lower propane margins and lower results for Peninsula Energy Services Company, Inc. (“PESCO”) as it continues to build its platform for future growth
  • Year-to-date results continue to be strong as net income rose by $6.8 million ($0.40 per share) to $38.8 million or $2.36 per share
  • Higher year-to-date earnings are a result of continued growth and expansion in natural gas operations, as well as growth in electric and propane operations and reduced federal income taxes for the unregulated energy businesses
  • As a result of the Tax Cuts and Jobs Act (“TCJA”), the Company year-to-date has passed through approximately $7.5 million in lower federal income taxes to regulated energy customers

Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) (“Chesapeake Utilities” or the “Company”) today announced third quarter financial results. The Company’s net income for the quarter ended September 30, 2018 was $5.5 million, compared to $6.8 million for