Chesapeake utilities corporation reports third quarter 2023 results

Earnings per share ("eps")* for the third quarter of 2023 was $0.53 compared to $0.54 per share for the third quarter of 2022 adjusted eps** for the third quarter of 2023, which excludes transaction-related expenses attributable to the announced acquisition of florida city gas ("fcg"), increased by 28 percent to $0.69 compared to $0.54 per share for the third quarter of 2022 year-to-date eps was $3.47 compared to $3.58 per share in the prior year. adjusted eps, excluding transaction-related expenses, for the nine months ended september 30, 2023 was $3.63 historically warmer temperatures significantly impacted customer consumption during the first half of 2023, lowering both eps and adjusted eps by approximately $0.41 per share adjusted gross margin** growth of $7.6 million during the third quarter was driven by continued pipeline expansion projects, natural gas organic growth, regulatory initiatives, and increased propane margins and fees entered into a definitive agreement to acquire fcg for approximately $923 million, which is expected to close in the fourth quarter of 2023 dover, del.
CPK Ratings Summary
CPK Quant Ranking