Chesapeake Utilities outlines $550M-$600M 2026 capex plan while advancing $1.2B Florida Energy Pathway toward 2030 in-service (NYSE:CPK)

Mizuho raised its price target for Chesapeake Utilities (NYSE:CPK) to $155 from $150, citing growth prospects. The company's Q3 2026 EPS of $0.89 missed estimates but revenue grew 14% YoY. Management highlighted strong underlying growth and raised dividends for 23 consecutive years.

Chesapeake Utilities (CPK) reported Q3 earnings, highlighting contracts with three anchor shippers for 250,000 dekatherms per day. The company expects a $125M Worcester Resiliency Upgrade facility to come online in Q1 2027, with adjusted margins. Florida rate case decisions are expected in early 2027. The company plans to issue $250M in long-term debt and reaffirmed 2028 EPS guidance of $7.75-$8.00.

Chesapeake Utilities Corp (CPK) reported Q3 2026 earnings, citing higher costs that reduced adjusted EPS by $0.12. The company faced increased O&M expenses, depreciation, and property taxes. The WRU project's capital investment rose to $125M. CEO Jeff Householder discussed growth prospects, regulatory uncertainty, and margin dynamics. The company remains optimistic about future projects and cost management.

Chesapeake Util (CPK) reported Q3 2026 earnings with a 12% increase in adjusted net income and 8% rise in adjusted earnings per share. The company invested $151M in capital, on track for $550M-$600M annual guidance. Customer growth and infrastructure projects, including the $1.2B Florida Energy Pathway, drive long-term strategy. FCG rate case interim rates contributed $2.7M in margin.

Chesapeake Utilities (CPK) reported Q3 2026 earnings with adjusted EPS of $0.89, up 9%, and adjusted net income of $21.6M, up 11%. Growth was driven by natural gas projects and regulatory initiatives. Capital investment reached $151.2M, on track for annual targets. Management highlighted long-term growth prospects and reaffirmed 2028 EPS guidance of $7.75-$8.00. Risks include higher healthcare costs and increased project expenses.

Chesapeake Utilities reported 3Q 2026 revenue of $195.8M, up 9% YoY, and net income of $21.6M, up 11.3% YoY. Regulated energy growth was driven by rate changes and infrastructure investments, while unregulated energy saw higher operating expenses. The company increased its 2026 capital expenditure forecast to $550M-$600M.