Chesapeake Utilities Corporation (CPK - Free Report) delivered first-quarter 2019 operating earnings of $1.68 per share, which beat the Zacks Consensus Estimate of $1.60 by 5%. The figure improved 20% year over year. The upside can be attributed to the positive impacts of recently completed and ongoing pipeline expansion projects, acquisitions, organic growth in the natural gas distribution operations as well as higher propane retail margins per gallon.
Chesapeake Utilities’ revenues amounted to $227.6 million, which missed the Zacks Consensus Estimate of $271 million by 16.04%. The figure declined 54.9% from $239.3 million in the prior-year quarter.
The company’s operating expenses were $183.6 million, down 7.7% from $199 million in the year-ago quarter.
The company incurred interest charges of $5.7 million, up 54% from $3.7 million in the prior-year quarter.
Operating income came in at $44 million, up 8.9% from $40.4 million in the prior-year quarter.
As of Mar 31, 2019, Chesapeake Utilities had cash and cash equivalents of $7.9 million compared with $6 million as of Dec 31, 2018.
Long-term debt (excluding current maturities) was $286 million as of Mar 31, 2019, down from $316 million Dec 31, 2018.
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.
MDU Resources Group Inc (MDU - Free Report) delivered first-quarter 2019 operating earnings of 21 cents per share, which missed the Zacks Consensus Estimate of 24 cents by 12.5%.
ONE Gas, Inc (OGS - Free Report) generated first-quarter 2019 operating earnings of $1.76 per share, which beat the Zacks Consensus Estimate of $1.73 by 1.7%.
ONEOK Inc (OKE - Free Report) generated first-quarter 2019 operating earnings of 81 cents per share, which beat the Zacks Consensus Estimate of 73 cents by 10.96%.
This Could Be the Fastest Way to Grow Wealth in 2019
Research indicates one sector is poised to deliver a crop of the best-performing stocks you'll find anywhere in the market. Breaking news in this space frequently creates quick double- and triple-digit profit opportunities.
These companies are changing the world – and owning their stocks could transform your portfolio in 2019 and beyond. Recent trades from this sector have generated +98%, +119% and +164% gains in as little as 1 month.
Click here to see these breakthrough stocks now >>