Revenue: As of FY2026 Q1, the actual value is USD 353.1 M.

EPS: As of FY2026 Q1, the actual value is USD 2.47, beating the estimate of USD 2.25.

EBIT: As of FY2026 Q1, the actual value is USD 118.1 M.

Net Income

Chesapeake Utilities Corporation (切萨皮克气业) reported a net income of $59.3 million for the first quarter of 2026, an increase from $50.9 million in the first quarter of 2025, representing a 17% increase year-over-year (YoY). Adjusted net income for the first quarter of 2026 was $59.3 million, compared to $51.1 million in the prior-year period, an increase of 16% YoY.

Operating Income

Consolidated operating income for the first quarter of 2026 was $99.4 million, reflecting a $12.6 million, or 14.5%, increase compared to $86.8 million in the same period of 2025. Regulated Energy Segment: Operating income was $71.1 million in Q1 2026, up $10.6 million or 17.5% from $60.5 million in Q1 2025. Unregulated Energy Segment: Operating income was $28.3 million in Q1 2026, up $2.0 million or 7.6% from $26.3 million in Q1 2025.

Gross Margin

Consolidated adjusted gross margin increased by $23.8 million, or 13.0%, to $206.2 million in the first quarter of 2026, from $182.4 million in Q1 2025. GAAP gross margin for Q1 2026 was $157.2 million, a 15% increase from $137.2 million in Q1 2025. Regulated Energy Segment: Adjusted gross margin increased by $19.6 million, or 15.3%, to $147.7 million in Q1 2026, from $128.1 million in Q1 2025. This increase was driven by natural gas transmission service expansions ($6.9 million), contributions from regulated infrastructure programs ($5.5 million), rate changes from recent rate case activities ($4.1 million), natural gas growth ($2.0 million), changes in customer consumption ($1.7 million), and change in off-system natural gas capacity sales ($1.1 million), partially offset by the absence of recovered costs associated with Hurricane Michael (-$2.0 million). Unregulated Energy Segment: Adjusted gross margin increased by $4.1 million, or 7.5%, to $58.6 million in Q1 2026, from $54.5 million in Q1 2025. This was primarily due to increased propane customer consumption ($2.4 million) and increased performance from Aspire Energy ($1.4 million).

Operating Revenues

Total operating revenues were $353.1 million in Q1 2026, up from $298.7 million in Q1 2025, representing an 18% increase YoY. Regulated Energy Segment: Operating revenues were $249.3 million in Q1 2026, compared to $199.6 million in Q1 2025. Unregulated Energy Segment: Operating revenues were $113.7 million in Q1 2026, compared to $106.7 million in Q1 2025.

Operating Expenses

Other operating expenses increased by $11.9 million, or -18.6%, to $75.9 million in Q1 2026, from $64.0 million in Q1 2025, largely due to higher payroll, benefits, and other employee-related expenses (-$6.6 million), and increased facilities, maintenance costs, and outside services (-$3.1 million). The cost of sales (Natural Gas, Propane, & Electric) increased by 26% to $146.9 million in Q1 2026 from $116.3 million in Q1 2025. Operating expense rose by 21% to $27.5 million in Q1 2026 from $22.7 million in Q1 2025.

Depreciation & Amortization (D&A)

D&A decreased by 4% to $21.5 million in Q1 2026 from $22.5 million in Q1 2025.

Capital Investment

Capital investment for the first quarter of 2026 was $121.9 million. Total capital expenditures for Q1 2026 totaled $122 million. Transmission projects have a total capital expenditure of approximately $295 million.

Customer Growth

Residential customer growth for the three months ended March 31, 2026, increased by approximately 3.3% on the Delmarva Peninsula, 2.2% for FPU, and 2.0% for FCG.

Debt & Liquidity

As of March 31, 2026, total capitalization was $3,311 million, comprising 50% Equity ($1,652 million), 10% Short-Term Debt ($334 million), and 40% Long-Term Debt ($1,325 million). Available liquidity was 74% of the total capacity of $793.3 million.

Shares Outstanding and Equity Issuances

There were 24,004,761 shares outstanding as of May 4, 2026, with 107 thousand shares issued throughout Q1 2026.

Outlook / Guidance

Chesapeake Utilities Corporation (切萨皮克气业) re-affirms its 2026 full-year capital guidance range of $450 million to $500 million and its five-year (2024-2028) capital guidance range of $1.5 billion to $1.8 billion. The company expects to issue approximately $60 million through existing ATM and waiver programs for equity and $200-250 million in debt for 2026 financing. Chesapeake Utilities Corporation also re-affirms its 2028 EPS guidance range of $7.75 to $8.00 per share, with the Worcester Resiliency Upgrade (WRU) Project expected to have a FY 2026 EPS impact of -$0.10 and FY 2027 margin of $17.1 million upon completion in Q4 2026 and in-service in Q1 2027.