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ONEOK, Inc. (OKE) - free report >>
Chesapeake Utilities Corporation (CPK) - free report >>
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Chesapeake Utilities (CPK) Q4 Earnings Miss, Revenues Beat
Chesapeake Utilities Corporation (CPK - Free Report) reported fourth-quarter 2018 operating earnings of $1.10 per share, which missed the Zacks Consensus Estimate of $1.22 by 9.8%. However, the figure improved 18.3% year over year. The earnings growth is attributable to continued improvement across the company's businesses.
Total Revenues
Chesapeake Utilities’ revenues amounted to $201.2 million, which surpassed the Zacks Consensus Estimate of $185.7 million by 8.4%. The figure rose 11.5% from $180.4 million in the prior-year quarter.
Quarterly Highlights
Chesapeake Utilities’ operating expenses were $172.3 million, up 9.9% from $156.8 million in the year-ago quarter.
The company incurred interest charges of $4.4 million, up 25.37% from $3.5 million in the prior-year quarter.
Operating income came in at $28.9 million, up 21.9% from $23.7 million in the prior-year quarter.
Financial Performance
As of Dec 31, 2018, Chesapeake Utilities had cash and cash equivalents of $6.1 million compared with $5.6 million recorded in the corresponding period of 2017.
Long-term debt (excluding current maturities) was $316.1 million as of Dec 31, 2018, up from $197.4 million at the end of 2017.
Zacks Rank
Chesapeake Utilities currently carries a Zacks Rank #3 (Hold).
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 fourth-quarter 2018 operating earnings of 70 cents per share, which missed the Zacks Consensus Estimate of 74 cents by 5.4%.
ONE Gas, Inc. (OGS - Free Report) recorded fourth-quarter 2018 operating earnings of 84 cents per share, lagging the Zacks Consensus Estimate of 85 cents by 1.2%.
MDU Resources Group Inc. (MDU - Free Report) delivered fourth-quarter 2018 operating earnings of 39 cents per share, which missed the Zacks Consensus Estimate of 42 cents by 7.14%.
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