Back to top
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
ONEOK, Inc. (OKE) - $25 value - yours FREE >>
Chesapeake Utilities Corporation (CPK) - $25 value - yours FREE >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
ONEOK, Inc. (OKE) - $25 value - yours FREE >>
Chesapeake Utilities Corporation (CPK) - $25 value - yours FREE >>
Image: Bigstock
Chesapeake Utilities (CPK) Misses Q3 Earnings Estimates
Chesapeake Utilities Corporation (CPK - Free Report) reported third-quarter 2016 operating earnings of 29 cents per share, missing the Zacks Consensus Estimate of 41 cents by 29.3%. Reported earnings were also down from 33 cents reported in the year-ago quarter.
Total Revenue
Chesapeake Utilities’ total revenue of $108.3 million beat the Zacks Consensus Estimate of $101 million by 7.2%. Revenues were also up 17.9% from $91.9 million in the prior-year quarter.
Revenues at Regulated Energy climbed 9.8%, while Unregulated Energy revenues increased 36.3%.
Quarterly Highlights
Chesapeake Utilities’ operating expenses stood at $98.2 million, up 21.2% from $81 million a year ago.
Operating income came in at $10.2 million in the third quarter, down 6.9%.
The company incurred interest expense of $2.7 million, up 9.2% from $2.5 million in the prior-year quarter.
CHESAPEAKE UTIL Price, Consensus and EPS Surprise
CHESAPEAKE UTIL Price, Consensus and EPS Surprise | CHESAPEAKE UTIL Quote
Financial Condition
As of Sep 30, 2016, Chesapeake Utilities had cash and cash equivalents of $1.5 million, compared with $2.9 million as of Dec 31, 2015.
Long-term debt (excluding current maturities) was $143.5 million as of Sep 30, 2016, down from the 2015-end level of $149 million.
Capital expenditures in the first nine months of 2016 were $106.3 million.
Guidance
The company projects capital expenditure to be between $150 million and $170 million in 2016.
Peer Releases
ONEOK Inc. (OKE - Free Report) reported third-quarter 2016 operating earnings of 44 cents per share, outpacing the Zacks Consensus Estimate of 43 cents by 2.3%.
ONE Gas, Inc. (OGS - Free Report) reported third-quarter 2016 adjusted earnings of 24 cents per share, surpassing the Zacks Consensus Estimate of 19 cents by 26.3%.
An Upcoming Peer Release
Atmos Energy Corporation (ATO - Free Report) is expected to report third-quarter results on Nov 9. The Zacks Consensus Estimate stands at 31 cents.
Zacks Rank
Chesapeake Utilities Corporation currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>