Chesapeake Utilities (CPK) Beats On Q4 Earnings & Revenues

By Zacks Investment ResearchStock MarketsMar 01, 2018 09:10PM ET

www.investing.com/analysis/chesapeake-utilities-cpk-beats-on-q4-earnings--revenues-200295580

Chesapeake Utilities (CPK) Beats On Q4 Earnings & Revenues

By Zacks Investment Research | Mar 01, 2018 09:10PM ET

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Chesapeake Utilities Corporation (NYSE:CPK) reported fourth-quarter 2017 operating earnings of 93 cents beating the Zacks Consensus Estimate of 85 cents by 9.4%.

The company reported GAAP earnings of $1.59 per share, which came in higher than the year-ago figure of 73 cents by 117.8%.

Adjustments included a tax impact of 87 cents and Unrealized MTM loss of 21 cents.

Total Revenues

Chesapeake Utilities’ total revenues of $180.4 million beat the Zacks Consensus Estimate of $148 million by 21.9%. Further, revenues were up 27.2% from $141.9 million in the prior-year quarter.

Chesapeake Utilities Corporation Price, Consensus and EPS Surprise

Chesapeake Utilities Corporation Price, Consensus and EPS Surprise | Chesapeake Utilities Corporation Quote

Quarterly Highlights

Chesapeake Utilities’ operating expenses were $157.1 million, up 30.9% from $120 million a year ago.

Operating income came in at $23.3 million, up 6.6% from $21.8 million a year ago.

The company incurred interest expenses of $3.5 million, up 32.9% from $2.6 million in the prior-year quarter.

Total gross margin jumped 6.9% to $75 million from prior-year-quarter, thanks to the colder-than-normal temperatures in the fourth quarter.

Financial Condition

In 2017, Chesapeake Utilities had cash and cash equivalents of $5.6 million compared with $4.2 million in 2016.

Long-term debt (excluding current maturities) was $197.4 million in 2017, up from the 2016-end level of $137 million.

Peer Releases

South Jersey Industries, Inc. (NYSE:SJI) reported fourth-quarter 2017 adjusted earnings of 50 cents per share, beating the Zacks Consensus Estimate of 41 cents by 21.95%. It carries a Zacks Rank #3 (Hold).

National Fuel Gas Company (NYSE:NFG) reported first-quarter fiscal 2018 adjusted earnings of $1.02 per share, beating the Zacks Consensus Estimate of 82 cents by 24.4%. It holds a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

ONEOK (NYSE:OKE) reported fourth-quarter 2017 operating earnings of 52 cents per share, beating the Zacks Consensus Estimate by a penny. It carries a Zacks Rank #3.

Zacks Rank

Chesapeake Utilities carries a Zacks Rank #4 (Sell).

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Chesapeake Utilities (CPK) Beats On Q4 Earnings & Revenues

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