Chesapeake Utilities Corporation (CPK - Free Report) reported fourth-quarter 2016 operating earnings of 73 cents which came in line with the Zacks Consensus Estimate. However, reported earnings were 30.4% higher than the year-ago figure of 16 cents.
Full-year adjusted earnings were $2.86, a penny lower compared with the Zacks Consensus Estimate of $2.87. However, earnings were 5.1% higher than the prior-year figure.
Total Revenue
Chesapeake Utilities’ total revenue of $141.9 million beat the Zacks Consensus Estimate of $117 million by 21.3%. Further, revenues were up 35.7% from $104.6 million in the prior-year quarter. Revenues at Regulated Energy climbed 18.9%, while Unregulated Energy revenues increased 73.3%.
Total revenue in 2016 was $498.9 million, up 8.6% from the year-ago level. Revenues were 4.1% higher than the Zacks Consensus Estimate.
At 2016 end, the company served a higher customer base compared with 2015-end levels.
Quarterly Highlights
Chesapeake Utilities’ operating expenses were pegged at $120.1 million, up 35.8% from $88.4 million a year ago.
Operating income came in at $21.9 million in the fourth quarter, up 3.6%.
The company incurred interest expense of $2.64 million, up 2.3% from $2.58 million in the prior-year quarter.
Financial Condition
As of Dec 31, 2016, Chesapeake Utilities had cash and cash equivalents of $4.2 million, compared with $2.9 million as of Dec 31, 2015.
Long-term debt (excluding current maturities) was $136.9 million as of Dec 31, 2016, down from the 2015-end level of $149 million.
Peer Releases
ONEOK Inc. (OKE - Free Report) reported fourth-quarter 2016 operating earnings of 43 cents per share, missing the Zacks Consensus Estimate of 47 cents by 8.5%.
Atmos Energy Corporation (ATO - Free Report) reported fourth-quarter 2016 operating earnings of $1.08 per share, beating the Zacks Consensus Estimate of $1.03 by 4.9%.
UGI Corporation (UGI - Free Report) reported fourth-quarter 2016 operating earnings of 91 cents per share, beating the Zacks Consensus Estimate of 75 cents by 21.2%.
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.
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Chesapeake Utilities Corporation (CPK - Free Report) reported fourth-quarter 2016 operating earnings of 73 cents which came in line with the Zacks Consensus Estimate. However, reported earnings were 30.4% higher than the year-ago figure of 16 cents.
Full-year adjusted earnings were $2.86, a penny lower compared with the Zacks Consensus Estimate of $2.87. However, earnings were 5.1% higher than the prior-year figure.
Total Revenue
Chesapeake Utilities’ total revenue of $141.9 million beat the Zacks Consensus Estimate of $117 million by 21.3%. Further, revenues were up 35.7% from $104.6 million in the prior-year quarter. Revenues at Regulated Energy climbed 18.9%, while Unregulated Energy revenues increased 73.3%.
Total revenue in 2016 was $498.9 million, up 8.6% from the year-ago level. Revenues were 4.1% higher than the Zacks Consensus Estimate.
At 2016 end, the company served a higher customer base compared with 2015-end levels.
Quarterly Highlights
Chesapeake Utilities’ operating expenses were pegged at $120.1 million, up 35.8% from $88.4 million a year ago.
Operating income came in at $21.9 million in the fourth quarter, up 3.6%.
The company incurred interest expense of $2.64 million, up 2.3% from $2.58 million in the prior-year quarter.
Financial Condition
As of Dec 31, 2016, Chesapeake Utilities had cash and cash equivalents of $4.2 million, compared with $2.9 million as of Dec 31, 2015.
Long-term debt (excluding current maturities) was $136.9 million as of Dec 31, 2016, down from the 2015-end level of $149 million.
Peer Releases
ONEOK Inc. (OKE - Free Report) reported fourth-quarter 2016 operating earnings of 43 cents per share, missing the Zacks Consensus Estimate of 47 cents by 8.5%.
Atmos Energy Corporation (ATO - Free Report) reported fourth-quarter 2016 operating earnings of $1.08 per share, beating the Zacks Consensus Estimate of $1.03 by 4.9%.
UGI Corporation (UGI - Free Report) reported fourth-quarter 2016 operating earnings of 91 cents per share, beating the Zacks Consensus Estimate of 75 cents by 21.2%.
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.
A Full-Blown Technological Breakthrough in the Making
Zacks’ Aggressive Growth Strategist Brian Bolan explores autonomous cars in our latest Special Report, Driverless Cars: Your Roadmap to Mega-Profits Today. In addition to who will be selling them and how the auto industry will be impacted, Brian reveals 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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