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Chesapeake Utilities (DE:CH5)
FRANKFURT:CH5
Germany Market
EarningsQ2 2026 Earnings Report

Chesapeake Utilities (CH5) Q2 2026 Earnings Report

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DE:CH5 Q2 2026 EPS Results

Actual EPS€0.94
Consensus EPS€0.96
Beat/MissMissed by -€0.02
One Year Ago EPS€0.93

DE:CH5 Q2 2026 Revenue Results

Actual Revenue€180.18M
Expected Revenue€177.50M
Beat/MissBeat by +€2.67M
YoY Revenue Growth+4.77%

Earnings Announcement Details

QuarterQ2 2026
Date08/06/2026
TimeAfter Close
Conference CallThursday, August 6, 2026
DE:CH5 Upcoming Earnings
Chesapeake Utilities's next earnings date is estimated for November 5, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

DE:CH5 Q2 2026 Earnings Call
0:00 / 0:00

Q2 2026 Earnings Slide Deck

Q2 2026 Earnings Call Summary

Q2 2026
Earnings Call Date:Aug 06, 2026|
% Change Since:
|
Earnings Call Sentiment|Positive
The call presents a net-positive outlook: the company reported year-over-year growth in adjusted gross margin, adjusted net income and reaffirmed long-term EPS guidance while advancing significant growth projects (notably the $1.2 billion FEP) and strengthening liquidity. Offsetting pressures include higher depreciation and operating costs from an elevated capital program, dilution and financing impacts on EPS, regulatory uncertainty in the Florida City Gas rate case, and some softening in customer growth nationally. On balance, the company’s strong margin growth, clear capital plan, liquidity enhancements, and project pipeline outweigh the near-term cost and regulatory headwinds.
Company Guidance
Management raised full‑year 2026 capital guidance by $100 million to $550–$600 million (Q2 capex $140M; YTD $262M) and reaffirmed 2028 adjusted EPS of $7.75–$8.00, while announcing it now expects to exceed $1.4 billion of cumulative capital through year‑end and to exceed $2.2 billion of capex from 2024–2028; the company will provide 2027–2031 capex guidance and a 2027–2031 earnings growth rate in its Feb‑2027 full‑year call. Management also said transmission/infrastructure projects should add roughly $33M of gross margin in 2026 and $51M in 2027, highlighted the Florida Energy Pathway as a ~ $1.2B project (PPC to own ≥51%) targeted in service in 2030 with ~250,000 dekatherms/day committed, and reiterated a strong balance‑sheet posture (equity capitalization 50%, ~70% of $798M debt capacity available at 6/30, revolver increased to $650M — $250M 364‑day tranche and $400M five‑year tranche), with a next dividend of $0.74 after a 7.3% increase and a board payout target of 45–50% (retaining 50–55% of earnings to fund growth).
Adjusted Net Income and EPS Growth
Adjusted net income increased ~5% year-over-year to approximately $25 million in Q2 2026; adjusted earnings per share were $1.05 in the quarter, up ~1% year-over-year and up 8% in adjusted EPS through the first six months of 2026.
Adjusted Gross Margin and Segment Performance
Total adjusted gross margin was approximately $150 million in Q2 2026, up ~5% year-over-year; regulated segment adjusted gross margin was ~$125 million, up ~6% with regulated operating income up ~7% to ~$55 million; unregulated Energy segment gross margin increased ~2% to ~$25 million.
Strong Customer Growth in Core Markets
Continued above-average customer growth with Q2 metrics of ~3.0% for Delmarva, ~2.1% for Florida Public Utilities, and ~1.8% for Florida City Gas, supporting sustained natural gas demand in key service areas.
Florida Energy Pathway (FEP) — Major Growth Project
Announced FEP, a 97-mile intrastate transmission project expected in service in 2030 with total investment of ~ $1.2 billion; Peninsula Pipeline to fund and own at least 51%; anchored by investment-grade shippers committing nearly 250,000 dekatherms/day — positioned as a long-term regulated growth opportunity.
Increased Capital Spending and Updated Multi-Year Plan
Q2 capital investment of $140 million (YTD $262 million); increased full-year 2026 capital guidance by $100 million to $550–$600 million; now expect to exceed $2.2 billion of capital investment from 2024 through 2028 (updated from prior range).
Transmission Projects Contribution to Margin
Transmission projects are forecast to contribute approximately $33 million of gross margin in 2026 and an additional ~$51 million in 2027, supporting near-term margin growth tied to infrastructure investments.
Balance Sheet and Liquidity Enhancements
Equity capitalization at 50% as of June 30, 2026; maintained strong liquidity with 70% of $798 million total debt capacity available and recently amended revolver increased borrowing capacity to $650 million (up $200 million).
Operational Efficiency and ERP Progress
Operational expenses represented only 45% of gross margin for the first half of 2026, the lowest to date, demonstrating efficiency gains; ERP implementation advanced into realized build phase and remains on track for 2027 go-live.
Dividend Policy and Shareholder Returns
Announced most recent annual dividend increase of 7.3% and next dividend payment of $0.74 per share; Board targets payout range of 45%–50% of earnings while retaining 50%–55% to support growth.

DE:CH5 Earnings History

Report Date
Fiscal Quarter
Forecast / EPS
Last Year's EPS
EPS YoY Change
Press Release
Nov 05, 2026
2026 (Q3)
0.83 / -
0.732―
2026 (Q2)
0.96 / 0.94
0.9280.96% (<+0.01)
2026 (Q1)
2.13 / 2.20
1.98111.26% (+0.22)
2025 (Q4)
1.73 / 1.73
1.45519.02% (+0.28)
2025 (Q3)
0.81 / 0.73
0.7142.50% (+0.02)
2025 (Q2)
0.91 / 0.93
0.76720.93% (+0.16)
2025 (Q1)
2.00 / 1.98
1.8745.71% (+0.11)
2024 (Q4)
1.46 / 1.45
1.464-0.61% (>-0.01)
2024 (Q3)
0.60 / 0.71
0.61615.94% (+0.10)
2024 (Q2)
0.72 / 0.77
0.803-4.44% (-0.04)
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed