Chesapeake Utilities raises 2026 capital expenditure guidance to $550-$600 mln
Company expects capital investment of $1.4 bln through 2026, over $2.2 bln for 2024-2028
Chesapeake Utilities reaffirms 2028 EPS guidance of $7.75-$8.00
Overview
US diversified energy delivery firm's Q2 adjusted EPS missed analyst expectations
Company raised 2026 capital expenditure guidance to $550-$600 mln
Adjusted gross margin grew, driven by transmission expansion and regulatory initiatives
Result Drivers
TRANSMISSION EXPANSIONS - Adjusted gross margin growth was primarily driven by natural gas transmission service expansions and interim services
REGULATORY INITIATIVES - Contributions from regulated infrastructure programs and rate changes supported margin growth
LOWER CUSTOMER CONSUMPTION - Changes in customer consumption and decreased CNG/RNG/LNG services negatively affected results
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
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