Chesapeake Utilities Corporation (CPK - Free Report) reported third-quarter 2017 operating earnings of 42 cents beating the Zacks Consensus Estimate of 35 cents. Moreover, reported earnings were higher than the year-ago figure of 29 cents by 44.8%.
Total Revenue
Chesapeake Utilities’ total revenues of $126.9 million beat the Zacks Consensus Estimate of $124 million by 2.3%. Further, revenues were up 17.1% from $108.3 million in the prior-year quarter.
Revenues at Regulated Energy decreased 0.4%, and Unregulated Energy revenues increased 49.3%.
Quarterly Highlights
Chesapeake Utilities’ operating expenses were pegged at $112.7 million, up 14.8% from $98.2 million a year ago.
Operating income came in at $14.2 million in the third quarter, up 39.2% from $10.2 million a year ago.
The company incurred interest expense of $3.3 million, up 22.2% from $2.7 million in the prior-year quarter.
Financial Condition
As of Sep 30, 2017, Chesapeake Utilities had cash and cash equivalents of $3.9 million, compared with $4.2 million as of Dec 31, 2016.
Long-term debt (excluding current maturities) was $201.2 million as of Sep 30, 2017, up from the 2016-end level of $136.9 million.
Chesapeake Utilities Corporation Price, Consensus and EPS Surprise
Peer Releases
Southwest Gas Corporation (SWX - Free Report) reported third-quarter 2017 earnings from continuing operations of 21 cents per share, beating the Zacks Consensus Estimate of 14 cents by 50%.
ONE Gas, Inc. (OGS - Free Report) reported third-quarter 2017 earnings from continuing operations of 36 cents per share, beating the Zacks Consensus Estimate of 28 cents by 28.6%
MDU Resources Group, Inc. (MDU - Free Report) reported third-quarter 2017 earnings from continuing operations of 46 cents per share, missing the Zacks Consensus Estimate of 50 cents by 8%
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 third-quarter 2017 operating earnings of 42 cents beating the Zacks Consensus Estimate of 35 cents. Moreover, reported earnings were higher than the year-ago figure of 29 cents by 44.8%.
Total Revenue
Chesapeake Utilities’ total revenues of $126.9 million beat the Zacks Consensus Estimate of $124 million by 2.3%. Further, revenues were up 17.1% from $108.3 million in the prior-year quarter.
Revenues at Regulated Energy decreased 0.4%, and Unregulated Energy revenues increased 49.3%.
Quarterly Highlights
Chesapeake Utilities’ operating expenses were pegged at $112.7 million, up 14.8% from $98.2 million a year ago.
Operating income came in at $14.2 million in the third quarter, up 39.2% from $10.2 million a year ago.
The company incurred interest expense of $3.3 million, up 22.2% from $2.7 million in the prior-year quarter.
Financial Condition
As of Sep 30, 2017, Chesapeake Utilities had cash and cash equivalents of $3.9 million, compared with $4.2 million as of Dec 31, 2016.
Long-term debt (excluding current maturities) was $201.2 million as of Sep 30, 2017, up from the 2016-end level of $136.9 million.
Chesapeake Utilities Corporation Price, Consensus and EPS Surprise
Peer Releases
Southwest Gas Corporation (SWX - Free Report) reported third-quarter 2017 earnings from continuing operations of 21 cents per share, beating the Zacks Consensus Estimate of 14 cents by 50%.
ONE Gas, Inc. (OGS - Free Report) reported third-quarter 2017 earnings from continuing operations of 36 cents per share, beating the Zacks Consensus Estimate of 28 cents by 28.6%
MDU Resources Group, Inc. (MDU - Free Report) reported third-quarter 2017 earnings from continuing operations of 46 cents per share, missing the Zacks Consensus Estimate of 50 cents by 8%
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.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
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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