--- title: "Chesapeake Utilities | 8-K: FY2025 Revenue Beats Estimate at USD 930 M" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/276944502.md" datetime: "2026-02-25T21:48:08.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/276944502.md) - [en](https://longbridge.com/en/news/276944502.md) - [zh-HK](https://longbridge.com/zh-HK/news/276944502.md) --- > 支持的语言: [English](https://longbridge.com/en/news/276944502.md) | [繁體中文](https://longbridge.com/zh-HK/news/276944502.md) # Chesapeake Utilities | 8-K: FY2025 Revenue Beats Estimate at USD 930 M Revenue: As of FY2025, the actual value is USD 930 M, beating the estimate of USD 874.12 M. EPS: As of FY2025, the actual value is USD 5.97, missing the estimate of USD 6.02. EBIT: As of FY2025, the actual value is USD 265.5 M. ### Consolidated Financial Performance #### Net Income - For the full year 2025, net income was $140.3 million, compared to $118.6 million in 2024 . - For the fourth quarter 2025, net income was $46.1 million, compared to $36.7 million in the prior-year period . #### Adjusted Net Income (Non-GAAP) - For the full year 2025, adjusted net income was $141.1 million, compared to $121.5 million in 2024 . - For the fourth quarter 2025, adjusted net income was $46.2 million, compared to $37.3 million in the fourth quarter of 2024 . #### Operating Income - For the full year 2025, operating income was $255.9 million, an increase of $27.7 million (12.1%) compared to $228.2 million in 2024 . - For the fourth quarter 2025, operating income was $73.8 million, an increase of $6.9 million (10.3%) compared to $66.9 million in the same period in 2024 . #### Adjusted Gross Margin (Non-GAAP) - For the full year 2025, total Adjusted Gross Margin was $638.5 million, an increase of $71.1 million (12.5%) compared to $567.4 million in 2024 . - For the fourth quarter 2025, total Adjusted Gross Margin was $176.1 million, an increase of $21.9 million (14.2%) compared to $154.2 million in the same period in 2024 . #### Operating Revenues - For the full year 2025, total operating revenues were $930.0 million, compared to $787.2 million in 2024 . - For the fourth quarter 2025, total operating revenues were $258.9 million, compared to $215.0 million in the fourth quarter of 2024 . #### Operating Expenses - For the full year 2025, total operating expenses were $674.1 million, compared to $559.0 million in 2024 . - For the fourth quarter 2025, total operating expenses were $185.1 million, compared to $148.1 million in the fourth quarter of 2024 . ### Segment-Specific Financial Performance #### Regulated Energy Segment - **Adjusted Gross Margin (Non-GAAP)**: - Full Year 2025: $494.0 million, an increase of $54.8 million (12.5%) from $439.2 million in 2024 . - Fourth Quarter 2025: $133.5 million, an increase of $18.4 million (16.0%) from $115.1 million in the same period in 2024 . - **Operating Income**: - Full Year 2025: $222.0 million, an increase of $25.8 million (13.1%) from $196.2 million in 2024 . - Fourth Quarter 2025: $60.8 million, an increase of $7.2 million (13.4%) from $53.6 million in the same period in 2024 . - **Operating Revenues**: - Full Year 2025: $687.8 million, compared to $583.4 million in 2024 . - Fourth Quarter 2025: $190.0 million, compared to $153.7 million in the fourth quarter of 2024 . - **Other Operating Expenses**: - Full Year 2025: $166.1 million, an increase of $9.6 million (6.1%) from $156.5 million in 2024 . - Fourth Quarter 2025: $46.1 million, an increase of $4.3 million (10.3%) from $41.8 million in the same period in 2024 . #### Unregulated Energy Segment - **Adjusted Gross Margin (Non-GAAP)**: - Full Year 2025: $144.6 million, an increase of $16.4 million (12.8%) from $128.2 million in 2024 . - Fourth Quarter 2025: $42.7 million, an increase of $3.6 million (9.2%) from $39.1 million in the same period in 2024 . - **Operating Income**: - Full Year 2025: $33.6 million, an increase of $1.9 million (6.0%) from $31.7 million in 2024 . - Fourth Quarter 2025: $12.7 million, a decrease of - $0.4 million (-3.1%) from $13.1 million in the same period in 2024 . - **Operating Revenues**: - Full Year 2025: $271.9 million, compared to $228.4 million in 2024 . - Fourth Quarter 2025: $76.6 million, compared to $68.3 million in the fourth quarter of 2024 . - **Other Operating Expenses**: - Full Year 2025: $87.9 million, an increase of $10.5 million (13.6%) from $77.4 million in 2024 . - Fourth Quarter 2025: $23.7 million, an increase of $2.7 million (12.9%) from $21.0 million in the same period in 2024 . ### Capital and Balance Sheet Metrics - Capital spending for 2025 was a record $470.4 million . - The Equity to Total Capitalization Ratio approximated 50 percent at December 31, 2025 . - Total assets were $3,994.8 million as of December 31, 2025, compared to $3,577.0 million as of December 31, 2024 . - Total capitalization was $2,925.6 million as of December 31, 2025, compared to $2,651.9 million as of December 31, 2024 . - Long-term debt, net of current maturities, was $1,327.1 million as of December 31, 2025, compared to $1,261.7 million as of December 31, 2024 . ### Operational Metrics - **Customer Growth (2025)**: - Residential customer growth was 4.1 percent in Delmarva . - Residential customer growth was 3.6 percent for FPU in Florida . - Residential customer growth was 2.2 percent for FCG in Florida . - **Adjusted Gross Margin Drivers (Full Year 2025)**: - Natural gas transmission service expansions contributed $18.8 million . - Contributions from regulated infrastructure programs amounted to $13.8 million . - Rate changes from rate case activities added $12.6 million . - Increased demand for CNG/LNG/RNG services contributed $10.7 million . - Higher customer consumption added $9.5 million . - Natural gas growth (excluding service expansions) contributed $7.4 million . - A change in propane margins and service fees resulted in - $1.4 million . ### Outlook and Guidance - Chesapeake Utilities Corporation (\[切萨皮克气业\]) is initiating 2026 capital expenditure guidance of $450-$500 million and continues to affirm its 2024-2028 capital expenditure guidance of $1.5 - $1.8 billion . The Company also affirms its 2028 EPS guidance of $7.75 - $8.00 . ### 相关股票 - [Chesapeake Utilities (CPK.US)](https://longbridge.com/zh-CN/quote/CPK.US.md) ## 相关资讯与研究 - [Locality Planning Energy Simplifies Capital Base as Options and Rights Lapse](https://longbridge.com/zh-CN/news/281457333.md) - [Fitch Places QatarEnergy's 'Aa' Rating On Rating Watch Negative](https://longbridge.com/zh-CN/news/281552069.md) - [Two drones hit Iraq's Rumaila North oilfield, wound three Iraqi workers - security, energy sources](https://longbridge.com/zh-CN/news/281682161.md) - [Adani Ports crosses 500 mmt cargo milestone in fy26](https://longbridge.com/zh-CN/news/281512687.md) - [SunPower files to delay 10-K, expects significant upside changes in FY 2025 results](https://longbridge.com/zh-CN/news/281182236.md)