olivLaw · US equity research
Chesapeake Utilities Corporation CPK
Natural Gas Transmisison & Distribution · SIC 4923 · Vertical: Natural Gas Transmisison & Distribution (SIC 4923)
Chesapeake Utilities is a Delaware energy delivery company distributing natural gas, electricity and propane, with regulated earnings and unregulated CNG, RNG and LNG services. It is expanding investment, including the Florida Energy Pathway pipeline project, with operating revenues of 930.0 million USD in fiscal 2025.
At the close of 04 Nov 2026, Chesapeake Utilities Corporation (CPK) stock was 141.70 USD (+2.64% on the day), with market capitalisation 3.4 bn USD, P/E 22.6 on diluted EPS of 6.27 USD over the last 12 months, dividend yield 1.49%, beta 0.09, 52-week range 118.97–141.70 USD. Latest reported quarter (Q2 2026): revenue of 201.9 m USD (+4.7% YoY), net income of 25.4 m USD (+6.3% YoY), diluted EPS 1.05 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 71.8
- overbought (≥ 70)
- Bollinger (20, 2)
- 125.24 – 140.66
- above the upper band · %B 1.07 · band width 11.6%
- SMA 50 / 200
- 131.23 / 129.42
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 2.45 / 1.48
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +12.2% | −1.1% | +13.3 pp | — |
| 3 months | +5.9% | −0.5% | +6.3 pp | — |
| 6 months | +12.6% | +4.4% | +8.2 pp | — |
| Year to date | +13.6% | +12.3% | +1.3 pp | — |
| 1 year | +7.6% | +13.5% | −5.9 pp | +4.0% |
| 3 years | +52.8% | +76.4% | −23.6 pp | +28.7% |
| 5 years | +4.6% | +63.7% | −59.1 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 160.2 m | 215.0 m | 298.7 m | 192.8 m | 179.6 m | 258.9 m | 353.1 m | 201.9 m |
| Operating income | 40.9 m | 66.9 m | 86.8 m | 50.3 m | 45.0 m | 73.8 m | 99.4 m | 52.9 m |
| Depreciation & amortisation | 16.8 m | 14.0 m | 22.5 m | 21.9 m | 23.3 m | 24.0 m | 21.5 m | 22.9 m |
| Interest expense | 17.1 m | 17.5 m | 18.1 m | 17.8 m | 18.2 m | 18.4 m | 18.7 m | 18.4 m |
| Pre-tax income | 24.3 m | 49.7 m | 69.3 m | 32.9 m | 27.0 m | 63.8 m | 80.7 m | 35.0 m |
| Income tax | 6.8 m | 13.0 m | 18.4 m | 9.0 m | 7.6 m | 17.7 m | 21.4 m | 9.6 m |
| Net income | 17.5 m | 36.7 m | 50.9 m | 23.9 m | 19.4 m | 46.1 m | 59.3 m | 25.4 m |
| Diluted EPS | 0.78 | 1.60 ≈ | 2.21 | 1.02 | 0.82 | 1.93 ≈ | 2.47 | 1.05 |
| Operating cash flow | 50.3 m ≈ | 21.7 m | 85.0 m | 54.2 m ≈ | 59.1 m ≈ | 35.4 m | 118.0 m | 95.6 m ≈ |
| Capex | 97.3 m | 95.7 m | 113.8 m | 99.9 m | 122.8 m | 126.4 m | 141.9 m | 125.0 m ≈ |
| Dividends paid | 14.1 m ≈ | 14.3 m | 14.5 m | 14.5 m ≈ | 15.8 m ≈ | 15.9 m | 16.2 m | 16.2 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 36 percentile of its own 39-quarter history (min 17.5, median 23.7, max 31.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 490.3 m | 479.6 m | 488.2 m | 570.0 m | 680.7 m | 670.6 m | 787.2 m | 930.0 m |
| Revenue YoY | +9.0% | −2.2% | +1.8% | +16.7% | +19.4% | −1.5% | +17.4% | +18.1% |
| Net income | 56.6 m | 65.2 m | 71.5 m | 83.5 m | 89.8 m | 87.2 m | 118.6 m | 140.3 m |
| Net income YoY | −2.7% | +15.2% | +9.7% | +16.7% | +7.6% | −2.9% | +36.0% | +18.3% |
| Diluted EPS | 3.45 | 3.96 | 4.26 | 4.73 | 5.04 | 4.73 | 5.26 | 5.97 |
| Diluted EPS YoY | −2.8% | +14.8% | +7.6% | +11.0% | +6.6% | −6.2% | +11.2% | +13.5% |
| net % | 11.5% | 13.6% | 14.6% | 14.6% | 13.2% | 13.0% | 15.1% | 15.1% |
| Free cash flow | -123.0 m | -81.8 m | -6.6 m | -36.4 m | 30.6 m | 14.9 m | -115.9 m | -214.9 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 1.8 m USD
- Financial debt
- 1.5 bn USD
- Net debt
- 1.5 bn USD
- Equity
- 1.6 bn USD
- Total assets
- 4.0 bn USD
- Debt / equity
- 0.93x
- Current ratio
- 0.45x
- ROE
- 9.4%
- ROA
- 3.7%
- FCF margin
- -23.1%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 488.2 m | 570.0 m | 680.7 m | 670.6 m | 787.2 m | 930.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Operating income | 112.7 m | 131.1 m | 142.9 m | 150.8 m | 228.2 m | 255.9 m | SEC (XBRL)· 25 Feb 2026verified |
| Depreciation & amortisation | 58.1 m | 62.7 m | 69.0 m | 65.5 m | 65.7 m | 91.7 m | SEC (XBRL)· 25 Feb 2026verified |
| EBITDA | 170.8 m ≈ | 193.8 m ≈ | 211.9 m ≈ | 216.3 m ≈ | 293.9 m ≈ | 347.6 m ≈ | SEC (XBRL)· 25 Feb 2026derived |
| Interest expense | 21.8 m | 20.1 m | 24.4 m | 36.9 m | 68.4 m | 72.5 m | SEC (XBRL)· 25 Feb 2026verified |
| Pre-tax income | 94.2 m | 112.7 m | 123.6 m | 115.3 m | 161.8 m | 193.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Income tax | 23.5 m | 29.2 m | 33.8 m | 28.1 m | 43.2 m | 52.7 m | SEC (XBRL)· 25 Feb 2026verified |
| Net income | 71.5 m | 83.5 m | 89.8 m | 87.2 m | 118.6 m | 140.3 m | SEC (XBRL)· 25 Feb 2026verified |
| Diluted EPS | 4.26 | 4.73 | 5.04 | 4.73 | 5.26 | 5.97 | SEC (XBRL)· 25 Feb 2026verified |
| Weighted average diluted shares | 16.8 m | 17.6 m | 17.8 m | 18.4 m | 22.5 m | 23.5 m | SEC (XBRL)· 25 Feb 2026verified |
| Dividend per share | 1.59 | 1.88 | 2.09 | 2.31 | 2.51 | 2.70 | SEC (XBRL)· 25 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 3.5 m | 5.0 m | 6.2 m | 4.9 m | 7.9 m | 1.8 m | SEC (XBRL)· 25 Feb 2026verified |
| Receivables | 56.9 m | 58.5 m | 62.9 m | 71.8 m | 76.7 m | 101.5 m | SEC (XBRL)· 25 Feb 2026verified |
| Current assets | 136.4 m | 170.3 m | 194.0 m | 185.7 m | 204.3 m | 237.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Property, plant & equipment, net | 1.6 bn | 1.7 bn | 1.8 bn | 2.5 bn | 2.7 bn | 3.1 bn | SEC (XBRL)· 25 Feb 2026verified |
| Goodwill | 38.7 m | 44.7 m | 46.2 m | 508.2 m | 507.7 m | 507.5 m | SEC (XBRL)· 25 Feb 2026verified |
| Intangibles (excl. goodwill) | 8.3 m | 13.2 m | 17.9 m | 16.9 m | 15.0 m | 13.2 m | SEC (XBRL)· 25 Feb 2026verified |
| Total assets | 1.9 bn | 2.1 bn | 2.2 bn | 3.3 bn | 3.6 bn | 4.0 bn | SEC (XBRL)· 25 Feb 2026verified |
| Accounts payable | 60.3 m | 52.6 m | 61.5 m | 77.5 m | 78.3 m | 115.2 m | SEC (XBRL)· 25 Feb 2026verified |
| Short-term debt | 175.6 m | 221.6 m | 202.2 m | 179.9 m | 196.5 m | 158.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Long-term debt | 508.5 m | 549.9 m | 578.4 m | 1.2 bn | 1.3 bn | 1.3 bn | SEC (XBRL)· 25 Feb 2026verified |
| Current liabilities | 329.0 m | 376.4 m | 369.0 m | 386.4 m | 419.4 m | 529.9 m | SEC (XBRL)· 25 Feb 2026verified |
| Equity | 697.1 m † | 774.2 m † | 832.7 m † | 1.2 bn † | 1.4 bn † | 1.6 bn † | SEC (XBRL)· 25 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 158.9 m | 150.5 m | 158.9 m | 203.5 m | 239.4 m | 233.7 m | SEC (XBRL)· 25 Feb 2026verified |
| Capex | 165.5 m | 186.9 m | 128.3 m | 188.6 m | 355.3 m | 448.6 m | SEC (XBRL)· 25 Feb 2026verified |
| Free cash flow | -6.6 m ≈ | -36.4 m ≈ | 30.6 m ≈ | 14.9 m ≈ | -115.9 m ≈ | -214.9 m ≈ | SEC (XBRL)· 25 Feb 2026derived |
| Investing cash flow | -181.6 m | -223.0 m | -136.5 m | -1.1 bn | -349.9 m | -435.7 m | SEC (XBRL)· 25 Feb 2026verified |
| Financing cash flow | 19.2 m | 74.0 m | -21.2 m | 906.6 m | 113.5 m | 195.9 m | SEC (XBRL)· 25 Feb 2026verified |
| Dividends paid | 27.2 m | 31.5 m | 35.2 m | 40.0 m | 54.2 m | 60.7 m | SEC (XBRL)· 25 Feb 2026verified |
| Share repurchases | -22.6 m | -15.9 m | -4.5 m | — | — | — | SEC (XBRL)· 22 Feb 2023verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 36 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40 · (margin_of_safety <= -0.25 & agreement in ['high', 'medium'])
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 3.4 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet10
- Growth65
- Quality64
- Returns27
- Valuation18
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 35.42 – 188.78 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the base of the ratio is not positive
- Peers: EV/EBITDA105.03 – 120.84 (Mid 112.32)3 companies used · median multiple 11.8x · quartiles 11.3x – 12.3xOKE, RGCO, SWX
- Peers: P/E83.92 – 188.78 (Mid 98.91)4 companies used · median multiple 15.8x · quartiles 13.4x – 30.1xCTRI, OKE, RGCO, SWX
- Dividend discount (DDM)35.42 – 47.63 (Mid 40.62)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 36/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 6.3% | 80 (vs peers) | 11% |
| Net margin · Quality | 15.1% | 100 (on a fixed band) | 7% |
| FCF conversion · Quality | -138.5% | 0 (on a fixed band) | 7% |
| Revenue CAGR 3Y · Growth | 11.0% | 91 (on a fixed band) | 9% |
| EPS CAGR 3Y · Growth | 5.8% | 39 (on a fixed band) | 9% |
| Net debt / EBITDA · Balance sheet | 4.3x | 0 (on a fixed band) | 11% |
| Interest coverage · Balance sheet | 3.7x | 34 (on a fixed band) | 7% |
| Current ratio · Balance sheet | 0.3x | 0 (on a fixed band) | 4% |
| P/E (TTM) · Valuation | 22.6x | 40 (vs peers) | 11% |
| EV/EBITDA · Valuation | 13.7x | 12 (on a fixed band) | 11% |
| FCF yield · Valuation | -6.1% | 0 (on a fixed band) | 9% |
| Shareholder yield (distributions) · Returns | 1.9% | 27 (on a fixed band) | 7% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet10/100 · 3/3 factors with a value
- Growth65/100 · 2/2 factors with a value
- Quality64/100 · 3/3 factors with a value
- Returns· partial27/100 · 1/2 factors with a value
- Valuation18/100 · 3/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
CHESAPEAKE UTILITIES CORP (CPK). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 930.0 m USD in 2025; YoY growth 18.1%; net margin 15.1%; ROE 9.5%; net debt/EBITDA 4.3x.
The estimated value range is 83.92–120.84 USD per share (median of 3 methods, agreement: medium); assumptions are illustrative. Against the central value of 98.91 USD, the price of 141.70 USD leaves a potential of -30.2% (value / price − 1) and a margin of safety of -43.3% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 36/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 6.3%
- Net margin: 15.1%
- Revenue CAGR 3Y: 11.0%
What contradicts it
- FCF conversion: -138.5%
- Net debt / EBITDA: 4.3x
- Current ratio: 0.3x
- EV/EBITDA: 13.7x
- FCF yield: -6.1%
- Shareholder yield (distributions): 1.9%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): Payout ratio (FCF).
Versus the vertical median
Natural Gas Transmisison & Distribution (SIC 4923) · same industry (4-digit SIC) · compared with 6 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| OKEONEOK, Inc. | 55.9 bn | 13.8 | 17.9% | 9.4% | +55.0% | +22% / +29% |
| SWXSouthwest Gas Holdings, Inc. | 6.7 bn | 12.2 | 14.1% | — | +9.6% | +11% / +56% |
| CPKChesapeake Utilities Corp | 3.4 bn | 22.6 | 9.5% | 15.1% | +18.1% | +8% / +53% |
| CTRICenturi Holdings, Inc. | 2.1 bn | 67.1 | 4.0% | 0.9% | +13.1% | −9% / unavailable |
| BIPCBrookfield Infrastructure Corporation | 1.7 bn | — | — | -6.6% | +0.1% | −16% / +24% |
| NEXTNextdecade Corporation | 1.7 bn | 129.9 | 292.6% | — | unavailable | +2% / +25% |
| RGCORGC Resources, Inc. | 248.3 m | 17.8 | 11.7% | 13.1% | +12.6% | +6% / +36% |
1- and 3-year price returns: for CPK from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 88.62 Total return -36% · Per year -36% | 156.21 Total return 12% · Per year 12% | 234.67 Total return 68% · Per year 68% |
| 3 years | 97.54 Total return -27% · Per year -10% | 192.34 Total return 41% · Per year 12% | 315.57 Total return 130% · Per year 32% |
| 5 years | 107.36 Total return -17% · Per year -4% | 236.82 Total return 77% · Per year 12% | 424.36 Total return 213% · Per year 26% |
- Exit P/E± 48.08
- Net margin± 33.66
- Annual revenue growth± 26.02
- Annual dilution± 2.83
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Chesapeake Utilities is a Delaware energy delivery company distributing natural gas, electricity and propane, with regulated earnings and unregulated CNG, RNG and LNG services. It is expanding investment, including the Florida Energy Pathway pipeline project, with operating revenues of 930.0 million USD in fiscal 2025 13.
SWOT
Strengths
- A regulated earnings base and approved rates give high earnings visibility and a good ability to recover costs 1.
- The company has shown steady growth in adjusted gross margin and adjusted EPS in the first half of 2026 3.
- Diversification across regulated distribution, transmission, propane and unregulated CNG, RNG and LNG services reduces reliance on any single revenue source 12.
Weaknesses
- Planned growth requires large capital investment beyond operating cash flow, so financing depends on capital markets 1.
- Revenue is sensitive to heating-season weather, and some areas lack revenue normalization mechanisms 1.
- Propane margins depend on purchase costs and the ability to pass price changes on to customers 1.
Opportunities
- The Florida Energy Pathway project could open a major new source of long-term growth if partners and approvals are secured 3.
- Expansion of compressed, liquefied and renewable gas services could add unregulated revenue 12.
- Strategic propane acquisitions could strengthen the company's position in existing markets and new growth areas 2.
Threats
- Changes in trade policy and tariffs could raise equipment costs and delay infrastructure projects 1.
- Tighter credit markets and higher interest rates could raise the cost of capital and limit investment 1.
- Severe weather and natural disasters could damage assets and interrupt operations, while raising insurance costs 1.
Risks
- Access to capitalhigh
The growth plan requires external funding, and the cost and availability of debt and equity depend on credit ratings and market conditions 1.
- Debt covenant compliancemedium
Breaching debt-to-capital or interest-coverage covenants could trigger acceleration of debt, although the company was in compliance at December 31, 2025 1.
- Weather and seasonalitymedium
Unusual heating-season temperatures can significantly change revenue and quarterly earnings 12.
- Permitting and construction delaysmedium
Regulatory approvals, rights-of-way and contractor availability could delay new facilities and reduce expected growth 1.
- Operational safetylow
Leaks, explosions and other safety incidents could raise costs and harm the company's reputation, with regulatory consequences 1.
Investment thesis
What would need to be true (bull case)
- Rising adjusted margins and transmission investment support an earnings growth path, if projects are completed as planned 23.
- The Florida Energy Pathway project and the long-term investment framework could open new revenue sources after 2028 3.
- The regulated base and approved rates could provide stability even during periods of market volatility 1.
What would break the thesis
- Heavy capital needs and dependence on financial markets could strain debt levels and dilute shareholders if financing costs rise 13.
- Large transmission projects could face delays or cost overruns, which would reduce the return on investment 1.
- Propane and unregulated service revenue could be hurt by volatile prices and competition 1.
What to watch
- Long-term investment and EPS guidance for 2027-2031February 2027
- Progress of partner discussions for the Florida Energy Pathway project2026
- Final decision on the FCG rate case and base rate increase request2026
- Quarterly results and segment adjusted gross margin trendsQ3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Chesapeake Utilities Corporation is an energy delivery company formed as a Delaware corporation in 1947, with operations primarily in the Mid-Atlantic region, North Carolina, South Carolina, Florida and Ohio 1. It distributes natural gas, electricity and propane, transmits natural gas, generates electricity and steam, and provides mobile compressed natural gas services 1. Its strategy aims to grow earnings from a stable regulated base, with investments in related businesses that could offer returns above traditional utility levels 12.
The company expanded in Florida through the FCG acquisition, completed on November 30, 2023 for 922.8 million USD in cash; FCG serves about 125,000 residential and commercial natural gas customers in eight Florida counties 1. Operating revenues were 930.0 million USD in 2025, and GAAP net income was 140.3 million USD, or 5.97 USD per diluted share 1.
In 2026 Chesapeake Utilities announced the Florida Energy Pathway project and raised its 2026 capital guidance to 550-600 million USD, linking long-term growth to transmission and distribution investment 3. It reaffirmed its 2028 EPS guidance of 7.75-8.00 USD and expects to give a long-term guidance update in February 2027 3.
Market context
The company operates in regulated markets where rates are set by state or federal authorities, providing a relatively predictable revenue base 1. Natural gas demand is seasonal, peaking in the November to March heating season, so quarterly results vary with temperatures 12.
Rising demand for transmission capacity in south Florida and infrastructure investment support the company's market development 3. However, equipment and material costs could keep rising, and trade policy changes could affect capital projects 1.
Trends
- Transmission and infrastructure investmenttailwind
Growing investment in pipelines and infrastructure programs supports adjusted earnings, including through new transmission services and capacity expansions 23. If transmission projects stay on schedule, margin growth could continue.
- Florida Energy Pathway projectmixed
The south Florida pipeline could add new capacity and reliability, but it requires partners and regulatory approvals, with in-service targeted for 2030 3.
- Inflation and supply chain pressureheadwind
Prices of equipment, materials and skilled labor have risen and could keep rising, while tariffs could increase project costs 1.
- Seasonal demand and weathermixed
Revenue depends on heating-season temperatures; warmer-than-normal weather could reduce sales, while colder winters could increase them 12.
Competitive position
The company competes with interstate pipelines where customers are close enough to connect directly, and customers can switch to alternative fuels including renewables 1. In propane, competition centers on service and price, while electric competition is limited but exposed to other energy sources 1.
In CNG, RNG and LNG services, the company faces other energy service providers, and keeping market share depends on growing its customer base 12. Losing customers to competitors could reduce revenue and cash flow 1.
- Interstate pipeline operators
Interstate pipeline operators that could compete directly for customers located near their networks, as noted in the company's risk factors 1.
- Other propane distributors
Propane distributors that compete on service and price, a risk the company identifies in its propane business 1.
- Alternative fuel and renewable energy providers
Providers of alternative fuels and renewable sources that could draw customers away from natural gas 1.
- Other electric power providers
Electric power providers whose actions could change competition in distribution markets, especially if legislation or market conditions shift 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Life on the move in a changing Chesapeake BayPhys.org · 03 Nov 2026 · EN
- Oyster stocks have plunged in the Chesapeake. This resident wants to bring them backNPR News · 31 Oct 2026 · EN
- Rising seas could weaken Chesapeake Bay's natural storm surge bufferPhys.org · 14 Oct 2026 · EN
- Chesapeake Bay Restoration Obstructed by Federal Policy Shift, Tribal WithdrawalInside Climate News · 02 Oct 2026 · EN
- Chesapeake Bay underwater grasses increase 7%, buoyed by gains in salty watersPhys.org · 08 Sept 2026 · EN
SEC filings
- Current report01 Oct 2026Material agreement · Other events · Financial statements and exhibits
- Current report29 Sept 2026Departure or appointment of officers · Financial statements and exhibits
- Current report01 Sept 2026Material agreement · Creation of a direct financial obligation · Other events · Financial statements and exhibits
- Quarterly report06 Aug 2026
- Current report06 Aug 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report13 Jul 2026Other events · Financial statements and exhibits
- Current report08 May 2026Shareholder vote · Financial statements and exhibits
- Quarterly report06 May 2026
- Current report06 May 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Proxy statement25 Mar 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Chesapeake Utilities Corporation · 25 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Chesapeake Utilities Corporation · 06 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Chesapeake Utilities Corporation · 06 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.