Chesapeake Utilities Lifts 2026 CapEx by $100M, Q2 Revenue Beats
CPK is trading near its 52-week low of $118.88 (12% above the low).
Summary
Chesapeake Utilities posted Q2 revenue of $201.9M, beating the $198.9M consensus, while adjusted EPS of $1.05 missed by $0.02. The company raised 2026 CapEx guidance by $100M to $550M-$600M, driven by transmission and distribution investments, and reaffirmed its 2028 adjusted EPS target of $7.75-$8.00. The CapEx hike signals confidence in growth projects, including the $1.2B Florida Energy Pathway pipeline announced in July. The earnings miss was modest, but the raised spending outlook may pressure near-term free cash flow.
At the time of this announcement, CPK was trading at $133.50 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $3.2B. The 52-week trading range was $118.88 to $140.83. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.