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Chesapeake Utilities (CPK) Q4 Earnings In Line, Revenues Top
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Chesapeake Utilities Corporation (CPK - Free Report) reported fourth-quarter 2016 operating earnings of 73 cents which came in line with the Zacks Consensus Estimate. However, reported earnings were 30.4% higher than the year-ago figure of 16 cents.
Full-year adjusted earnings were $2.86, a penny lower compared with the Zacks Consensus Estimate of $2.87. However, earnings were 5.1% higher than the prior-year figure.
Total Revenue
Chesapeake Utilities’ total revenue of $141.9 million beat the Zacks Consensus Estimate of $117 million by 21.3%. Further, revenues were up 35.7% from $104.6 million in the prior-year quarter. Revenues at Regulated Energy climbed 18.9%, while Unregulated Energy revenues increased 73.3%.
Total revenue in 2016 was $498.9 million, up 8.6% from the year-ago level. Revenues were 4.1% higher than the Zacks Consensus Estimate.
At 2016 end, the company served a higher customer base compared with 2015-end levels.
Quarterly Highlights
Chesapeake Utilities’ operating expenses were pegged at $120.1 million, up 35.8% from $88.4 million a year ago.
Operating income came in at $21.9 million in the fourth quarter, up 3.6%.
The company incurred interest expense of $2.64 million, up 2.3% from $2.58 million in the prior-year quarter.
Chesapeake Utilities Corporation Price, Consensus and EPS Surprise
As of Dec 31, 2016, Chesapeake Utilities had cash and cash equivalents of $4.2 million, compared with $2.9 million as of Dec 31, 2015.
Long-term debt (excluding current maturities) was $136.9 million as of Dec 31, 2016, down from the 2015-end level of $149 million.
Peer Releases
ONEOK Inc. (OKE - Free Report) reported fourth-quarter 2016 operating earnings of 43 cents per share, missing the Zacks Consensus Estimate of 47 cents by 8.5%.
Atmos Energy Corporation (ATO - Free Report) reported fourth-quarter 2016 operating earnings of $1.08 per share, beating the Zacks Consensus Estimate of $1.03 by 4.9%.
UGI Corporation (UGI - Free Report) reported fourth-quarter 2016 operating earnings of 91 cents per share, beating the Zacks Consensus Estimate of 75 cents by 21.2%.
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Chesapeake Utilities (CPK) Q4 Earnings In Line, Revenues Top
Chesapeake Utilities Corporation (CPK - Free Report) reported fourth-quarter 2016 operating earnings of 73 cents which came in line with the Zacks Consensus Estimate. However, reported earnings were 30.4% higher than the year-ago figure of 16 cents.
Full-year adjusted earnings were $2.86, a penny lower compared with the Zacks Consensus Estimate of $2.87. However, earnings were 5.1% higher than the prior-year figure.
Total Revenue
Chesapeake Utilities’ total revenue of $141.9 million beat the Zacks Consensus Estimate of $117 million by 21.3%. Further, revenues were up 35.7% from $104.6 million in the prior-year quarter. Revenues at Regulated Energy climbed 18.9%, while Unregulated Energy revenues increased 73.3%.
Total revenue in 2016 was $498.9 million, up 8.6% from the year-ago level. Revenues were 4.1% higher than the Zacks Consensus Estimate.
At 2016 end, the company served a higher customer base compared with 2015-end levels.
Quarterly Highlights
Chesapeake Utilities’ operating expenses were pegged at $120.1 million, up 35.8% from $88.4 million a year ago.
Operating income came in at $21.9 million in the fourth quarter, up 3.6%.
The company incurred interest expense of $2.64 million, up 2.3% from $2.58 million in the prior-year quarter.
Chesapeake Utilities Corporation Price, Consensus and EPS Surprise
Chesapeake Utilities Corporation Price, Consensus and EPS Surprise | Chesapeake Utilities Corporation Quote
Financial Condition
As of Dec 31, 2016, Chesapeake Utilities had cash and cash equivalents of $4.2 million, compared with $2.9 million as of Dec 31, 2015.
Long-term debt (excluding current maturities) was $136.9 million as of Dec 31, 2016, down from the 2015-end level of $149 million.
Peer Releases
ONEOK Inc. (OKE - Free Report) reported fourth-quarter 2016 operating earnings of 43 cents per share, missing the Zacks Consensus Estimate of 47 cents by 8.5%.
Atmos Energy Corporation (ATO - Free Report) reported fourth-quarter 2016 operating earnings of $1.08 per share, beating the Zacks Consensus Estimate of $1.03 by 4.9%.
UGI Corporation (UGI - Free Report) reported fourth-quarter 2016 operating earnings of 91 cents per share, beating the Zacks Consensus Estimate of 75 cents by 21.2%.
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.
A Full-Blown Technological Breakthrough in the Making
Zacks’ Aggressive Growth Strategist Brian Bolan explores autonomous cars in our latest Special Report, Driverless Cars: Your Roadmap to Mega-Profits Today. In addition to who will be selling them and how the auto industry will be impacted, Brian reveals 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>