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Chesapeake Utilities Corporation (CPK - Free Report) reported first-quarter 2017 operating earnings of $1.17 missing the Zacks Consensus Estimate of $1.46. Moreover, reported earnings were below the year-ago figure of $1.33 by 12.03%.
Total Revenue
Chesapeake Utilities’ total revenue of $185.2 million beat the Zacks Consensus Estimate of $159.7 million by 15.9%. Further, revenues were up 26.57% from $146.3 million in the prior-year quarter. Revenues at Regulated Energy climbed 5.7%, and Unregulated Energy revenues increased 16%.
Quarterly Highlights
Chesapeake Utilities’ operating expenses were pegged at $150.5 million, up 36.9% from $109.9 million a year ago.
Operating income came in at $34.6 million in the first quarter, down 4.9%.
The company incurred interest expense of $2.7 million, up 3.4% from $2.6 million in the prior-year quarter.
Chesapeake Utilities Corporation Price, Consensus and EPS Surprise
As of Mar 31, 2017, Chesapeake Utilities had cash and cash equivalents of $5.7 million, compared with $4.2 million as of Dec 31, 2016.
Long-term debt (excluding current maturities) was $136.5 million as of Mar 31, 2017, down from the 2016-end level of $136.9 million.
Upcoming Peer Releases
South Jersey Industries, Inc. currently carries a Zacks Rank #2 (Buy). The Zacks Consensus Estimate is pegged at 81 cents. It is expected to report first-quarter 2017 earnings on May 9.
Clean Energy Fuels Corp. (CLNE - Free Report) currently carries a Zacks Rank of #3 (Hold). The Zacks Consensus Estimate is pegged at a loss of 13 cents. It is expected to report first-quarter 2017 earnings on May 4.
Sempra Energy (SRE - Free Report) currently carries a Zacks Rank of #3. The Zacks Consensus Estimate is pegged at $1.59. It is expected to report first-quarter 2017 earnings on May 9.
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Image: Bigstock
Chesapeake Utilities (CPK) Q1 Earnings Miss, Revenues Beat
Chesapeake Utilities Corporation (CPK - Free Report) reported first-quarter 2017 operating earnings of $1.17 missing the Zacks Consensus Estimate of $1.46. Moreover, reported earnings were below the year-ago figure of $1.33 by 12.03%.
Total Revenue
Chesapeake Utilities’ total revenue of $185.2 million beat the Zacks Consensus Estimate of $159.7 million by 15.9%. Further, revenues were up 26.57% from $146.3 million in the prior-year quarter. Revenues at Regulated Energy climbed 5.7%, and Unregulated Energy revenues increased 16%.
Quarterly Highlights
Chesapeake Utilities’ operating expenses were pegged at $150.5 million, up 36.9% from $109.9 million a year ago.
Operating income came in at $34.6 million in the first quarter, down 4.9%.
The company incurred interest expense of $2.7 million, up 3.4% from $2.6 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
Financial Condition
As of Mar 31, 2017, Chesapeake Utilities had cash and cash equivalents of $5.7 million, compared with $4.2 million as of Dec 31, 2016.
Long-term debt (excluding current maturities) was $136.5 million as of Mar 31, 2017, down from the 2016-end level of $136.9 million.
Upcoming Peer Releases
South Jersey Industries, Inc. currently carries a Zacks Rank #2 (Buy). The Zacks Consensus Estimate is pegged at 81 cents. It is expected to report first-quarter 2017 earnings on May 9.
Clean Energy Fuels Corp. (CLNE - Free Report) currently carries a Zacks Rank of #3 (Hold). The Zacks Consensus Estimate is pegged at a loss of 13 cents. It is expected to report first-quarter 2017 earnings on May 4.
Sempra Energy (SRE - Free Report) currently carries a Zacks Rank of #3. The Zacks Consensus Estimate is pegged at $1.59. It is expected to report first-quarter 2017 earnings on May 9.
Zacks Rank
Chesapeake Utilities Corporation currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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