Chesapeake Utilities(DE:CH5)
€126.00+1.00 (+0.80%)
DE:CH5
Chesapeake Utilities earnings date
€126.00
At close:+1.00 (+0.80%)
Chesapeake Utilities (CH5) Q3 2026 Earnings Report
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DE:CH5 Q3 2026 EPS Results
- Actual EPS
- EUR 0.80
- Consensus EPS
- EUR 0.84
- Beat/Miss
- Missed by -EUR 0.04
- One Year Ago EPS
- EUR 0.74
DE:CH5 Q3 2026 Revenue Results
- Actual Revenue
- EUR 176.99M
- Expected Revenue
- EUR 174.74M
- Beat/Miss
- Beat by +EUR 2.25M
- YoY Revenue Growth
- +9.08%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/05/2026
- Time
- After Close
- Conference Call
- Thursday, November 5, 2026
DE:CH5 Upcoming Earnings
Chesapeake Utilities's next earnings date is estimated for February 24, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
DE:CH5 Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was predominantly positive, supported by double-digit adjusted net income growth, 9% adjusted EPS growth in the quarter, continued customer and infrastructure expansion, progress on major projects, strong liquidity, and reaffirmed long-term EPS guidance. The company also reported higher payroll, healthcare, O&M, and capital-related expenses, a $25 million increase in Worcester project capital needs, and pending regulatory and project-siting decisions. These challenges were acknowledged but did not outweigh the breadth of reported operating progress and growth initiatives.
Company Guidance
The company reaffirmed full year capital guidance of $550 million to $600 million, with current 5-year capital expenditures expected to exceed $2.2 billion; FEP is a $1.2 billion project expected to require 12 to 18 months for permitting, begin construction directly after, and come online in 2030. WRU total capital investment is now expected to be approximately $125 million, with full-year margin contribution of $19.7 million, the facility expected to come online within the first quarter of next year subject to the completion of all FERC commissioning work, and 2027 margin expectation of $17.2 million; gas transmission projects are expected to represent nearly $33 million of adjusted gross margin this year and over $50 million in 2027. The ERP remains on track for a planned Q2 2027 go-live, with no additional O&M expected until 2028, and 2028 earnings per share guidance was reaffirmed at $7.75 to $8.00.
- Nine-Month Earnings GrowthAdjusted net income increased 12% and adjusted earnings per share increased 8% through the first nine months of 2026 compared with the same period last year.
- Third-Quarter Financial PerformanceThird-quarter adjusted gross margin was approximately $149 million, up 9%; adjusted net income was approximately $22 million, up 11%; and adjusted earnings per share were $0.89, up 9% compared with the third quarter of 2025.
- Regulated and Unregulated Segment GrowthRegulated adjusted gross margin was approximately $126 million, up 10%, and regulated operating income was approximately $56 million, up 13%, in the third quarter of 2026. The unregulated energy segment generated approximately $22 million of adjusted gross margin.
- Contribution from Infrastructure and Transmission InvestmentsTransmission and distribution systems generated an incremental $4.8 million in the third quarter, while infrastructure programs that strengthen system safety and resilience contributed an incremental $2.8 million of margin. In the earnings bridge, transmission expansion projects added $0.09 per share and infrastructure program investments added $0.08 per share.
- Florida City Gas Interim Rate ContributionFlorida City Gas interim rates became effective in August and contributed $2.7 million of margin in the third quarter, or $0.09 of adjusted earnings per share. The company expects a final commission order in early January 2027.
- Capital Investment on TrackThe company invested $151 million of capital in the third quarter and $413 million year to date, remaining on track to meet full-year capital guidance of $550 million to $600 million.
- Long-Term Capital ProgramThe company continues to expect capital expenditures to exceed $2.2 billion under its current five-year capital guidance program.
- Customer Growth Across Service TerritoriesYear-to-date residential customer growth was 2.7% in Delmarva, 2% for Florida Public Utilities, and 1.7% for Florida City Gas. Management also reported solid customer growth across all customer classes.
- Delmarva Residential and Community ExpansionIn 2026, sales teams signed 18 new projects across Sussex, New Castle, and Kent Counties that are expected to receive service over the next several years. Chesapeake was also selected to serve Sussex Technical High School, converting the campus from oil and propane to natural gas.
- Florida Energy Pathway ProgressThe $1.2 billion Florida Energy Pathway project is intended to address supply constraints, expand natural gas transportation capacity, and enhance energy reliability in South Florida. NextEra Energy Resources will acquire a 49% minority interest while Chesapeake retains 51%. Three anchor shippers have contracted for capacity of 250,000 dekatherms per day, engineering and design work has progressed, permitting preparations have begun, and the project is still expected to come online in 2030.
- Worcester Resiliency Upgrade Nearing CompletionMechanical and electrical systems construction at the Worcester Resiliency Upgrade LNG storage facility is essentially complete, pre-commissioning work is underway, and recent FERC inspections have gone well. The company continues to expect the facility to come online within the first quarter of 2027, subject to completion of FERC commissioning work.
- Worcester Resiliency Upgrade Rate Approval and Margin OutlookFERC approved updated rates associated with the Worcester Resiliency Upgrade's revised capital expectations. The company now expects full-year margin contribution of $19.7 million and expects 2027 margin to remain relatively consistent at $17.2 million.
- Growing Transmission Earnings ContributionGas transmission projects collectively represent nearly $33 million of adjusted gross margin in 2026 and more than $50 million in 2027, with the increase driven in large part by continued demand growth in the distribution businesses.
- ERP Transformation MilestoneThe company successfully transitioned its ERP implementation into the testing phase and remains on track for a planned second-quarter 2027 go-live.
- Natural Gas Demand and Propane Margin ManagementContinued demand for natural gas distribution contributed $0.06 of incremental adjusted earnings per share, while improved propane margins and fees contributed $0.03 per share. Despite higher propane prices in the fall, management said it had not seen substantive margin erosion and cited storage volumes and customer hedging programs as protections against pricing fluctuations.
- Strong Capital Structure and LiquidityAs of September 30, equity capitalization was 49%, the company had issued nearly $37 million of equity year to date, and 67% of total funding capacity remained available. The revolving credit agreement was amended to increase total borrowing capacity by $200 million to $650 million.
- Dividend Increase and Shareholder ReturnsThe company’s most recent annual dividend increase was 7.3%. The next dividend payment is $0.74 per share, consistent with the 45% to 50% payout target range and allowing the company to retain 50% to 55% of earnings for its capital program.
- Reaffirmed 2028 EPS GuidanceManagement reaffirmed 2028 earnings per share guidance of $7.75 to $8.00 and said it remains committed to delivering industry-leading long-term EPS growth.
- Community Engagement and RecognitionMore than 600 team members participated in volunteer events during the first nine months of the year, and the company contributed nearly $1.2 million through charitable donations, community partnerships, and sponsorships. Sharp Energy received Stars of Delaware recognition for the seventh consecutive year, and four employees received the inaugural Spirit of Chesapeake Award.
- Additional Florida Growth OpportunitiesManagement said the Florida Energy Pathway could potentially support additional capacity through compression and additional upstream resources. Chesapeake is also upgrading its existing pipeline into the spaceport area and adding pipe to meet anticipated capacity requirements without relying on SpaceX as a principal customer.
DE:CH5 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 24, 2027 | 2026 (Q4) | 1.80- | 1.75 | ― | ― |
| Nov 05, 2026 | 2026 (Q3) | 0.840.80 | 0.74 | 8.54% (+0.06) | |
| Aug 06, 2026 | 2026 (Q2) | 0.970.95 | 0.94 | 0.96% (+0.01) | |
| May 06, 2026 | 2026 (Q1) | 2.152.23 | 2.01 | 11.26% (+0.23) | |
| Feb 25, 2026 | 2025 (Q4) | 1.751.75 | 1.47 | 19.02% (+0.28) | |
| Sep 30, 2025 | 2025 (Q3) | 0.820.74 | 0.72 | 2.50% (+0.02) | |
| Aug 07, 2025 | 2025 (Q2) | 0.920.94 | 0.78 | 20.93% (+0.16) | |
| May 07, 2025 | 2025 (Q1) | 2.032.01 | 1.9 | 5.71% (+0.11) | |
| Feb 26, 2025 | 2024 (Q4) | 1.481.47 | 1.48 | -0.61% (-0.01) | |
| Nov 07, 2024 | 2024 (Q3) | 0.610.72 | 0.62 | 15.94% (+0.10) |
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
