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Chesapeake Utilities (CPK) Misses on Q3 Earnings & Revenues
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Chesapeake Utilities Corporation (CPK - Free Report) reported third-quarter 2018 operating earnings of 34 cents per share, which missed the Zacks Consensus Estimate of 48 cents by 29.2%. The quarterly figure fell 19% year over year. Third-quarter earnings were hurt by seasonality, lower propane margins and lower operating income from Peninsula Energy Services Company, Inc (PESCO).
Total Revenues
Chesapeake Utilities’ revenues amounted to $140.3 million, which missed the Zacks Consensus Estimate of $143 million by 1.9%. The figure rose 10.5% from $126.9 million in the prior-year quarter.
Chesapeake Utilities Corporation Price, Consensus and EPS Surprise
ONEOK Inc (OKE - Free Report) posted third-quarter 2018 operating earnings of 75 cents per share, which beat the Zacks Consensus Estimate of 71 cents by 5.63%.
Sempra Energy’s (SRE - Free Report) third-quarter 2018 adjusted earnings per share came in at $1.23, beating the Zacks Consensus Estimate of $1.13 by 8.8%.
MDU Resources Group Inc. (MDU - Free Report) reported third-quarter 2018 operating earnings of 55 cents per share, which missed the Zacks Consensus Estimate of 56 cents by 1.79%.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Chesapeake Utilities (CPK) Misses on Q3 Earnings & Revenues
Chesapeake Utilities Corporation (CPK - Free Report) reported third-quarter 2018 operating earnings of 34 cents per share, which missed the Zacks Consensus Estimate of 48 cents by 29.2%. The quarterly figure fell 19% year over year. Third-quarter earnings were hurt by seasonality, lower propane margins and lower operating income from Peninsula Energy Services Company, Inc (PESCO).
Total Revenues
Chesapeake Utilities’ revenues amounted to $140.3 million, which missed the Zacks Consensus Estimate of $143 million by 1.9%. The figure rose 10.5% from $126.9 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 $128.2 million, up 14.2% from $112.3 million in the year-ago quarter.
The company incurred interest charges of $4.4 million, up 33.3% from $3.3 million in the prior-year quarter.
Operating income came in at $12 million, down 17.7% from $14.6 million in the prior-year quarter.
Financial Condition
As of Sep 30, 2018, Chesapeake Utilities had cash and cash equivalents of $6.2 million compared with $5.6 million as of Dec 31, 2017.
Long-term debt (excluding current maturities) was $241.6 million as of Sep 30, 2018, up from $197.4 million at the end of 2017.
Zacks Rank
Chesapeake Utilities carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Utility - Gas Distribution Releases
ONEOK Inc (OKE - Free Report) posted third-quarter 2018 operating earnings of 75 cents per share, which beat the Zacks Consensus Estimate of 71 cents by 5.63%.
Sempra Energy’s (SRE - Free Report) third-quarter 2018 adjusted earnings per share came in at $1.23, beating the Zacks Consensus Estimate of $1.13 by 8.8%.
MDU Resources Group Inc. (MDU - Free Report) reported third-quarter 2018 operating earnings of 55 cents per share, which missed the Zacks Consensus Estimate of 56 cents by 1.79%.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>