Chesapeake Utilities CorporationCPK reported fourth-quarter 2017 operating earnings of 93 cents beating the Zacks Consensus Estimate of 85 cents by 9.4%.
The company reported GAAP earnings of $1.59 per share, which came in higher than the year-ago figure of 73 cents by 117.8%.
Adjustments included a tax impact of 87 cents and Unrealized MTM loss of 21 cents.
Total Revenues
Chesapeake Utilities’ total revenues of $180.4 million beat the Zacks Consensus Estimate of $148 million by 21.9%. Further, revenues were up 27.2% from $141.9 million in the prior-year quarter.
Chesapeake Utilities Corporation Price, Consensus and EPS Surprise
Chesapeake Utilities’ operating expenses were $157.1 million, up 30.9% from $120 million a year ago.
Operating income came in at $23.3 million, up 6.6% from $21.8 million a year ago.
The company incurred interest expenses of $3.5 million, up 32.9% from $2.6 million in the prior-year quarter.
Total gross margin jumped 6.9% to $75 million from prior-year-quarter, thanks to the colder-than-normal temperatures in the fourth quarter.
Financial Condition
In 2017, Chesapeake Utilities had cash and cash equivalents of $5.6 million compared with $4.2 million in 2016.
Long-term debt (excluding current maturities) was $197.4 million in 2017, up from the 2016-end level of $137 million.
Peer Releases
South Jersey Industries, Inc. SJI reported fourth-quarter 2017 adjusted earnings of 50 cents per share, beating the Zacks Consensus Estimate of 41 cents by 21.95%. It carries a Zacks Rank #3 (Hold).
ONEOK OKE reported fourth-quarter 2017 operating earnings of 52 cents per share, beating the Zacks Consensus Estimate by a penny. It carries a Zacks Rank #3.
Zacks Rank
Chesapeake Utilities carries a Zacks Rank #4 (Sell).
Don’t Even Think About Buying Bitcoin Until You Read This
The most popular cryptocurrency skyrocketed last year, giving some investors the chance to bank 20X returns or even more. Those gains, however, came with serious volatility and risk. Bitcoin sank 25% or more 3 times in 2017.
Zacks’ has just released a new Special Report to help readers capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment