Chesapeake Utilities Corporation ( CPK ) Q3 2025 Earnings Call November 7, 2025 8:30 AM EST Company Participants Lucia Dempsey - Head of Investor Relations Jeffrey Householder - President, CEO & Chairman James Moriarty - Executive VP, General Counsel, Corporate Secretary and Chief Policy & Risk Officer Beth Cooper - Executive VP, CFO, Treasurer & Assistant Corporate Secretary Conference Call Participants Nicholas Campanella - Barclays Bank PLC, Research Division Tate Sullivan - Maxim Group LLC, Research Division Paul Fremont - Ladenburg Thalmann & Co. Inc., Research Division Alexis Kania - BTIG, LLC, Research Division Presentation Operator Welcome to Chesapeake Utilities Corporation's Third Quarter 2025 Earnings Conference Call. [Operator Instructions] I would now like to turn the call over to Lucia Dempsey, Head of Investor Relations.

Chesapeake Utilities (CPK) came out with quarterly earnings of $0.82 per share, missing the Zacks Consensus Estimate of $0.9 per share. This compares to earnings of $0.8 per share a year ago.

Net income and earnings per share ("EPS")* were $19.4 million and $0.82, respectively, for the third quarter of 2025 and $94.2 million and $4.03, respectively, for the nine months ended September 30, 2025 Adjusted net income and Adjusted EPS**, which exclude transaction and transition-related expenses attributable to the acquisition and integration of Florida City Gas ("FCG"), were $19.5 million and $0.82, respectively, for the third quarter of 2025 and $94.9 million and $4.06, respectively, for the nine months ended September 30, 2025 Adjusted gross margin** growth of $15.2 million and $49.3 million, respectively, for the three- and nine-month periods ended September 30, 2025 driven primarily by natural gas organic growth and transmission expansion projects, regulatory initiatives and infrastructure programs, and increased compressed natural gas, renewable natural gas and liquified natural gas services 2025 Adjusted EPS guidance of $6.15 - $6.35 re-affirmed, assuming a successful outcome on the FCG Depreciation Study The Company is increasing its 2025 capital guidance range to $425-$450 million The Company continues to affirm 2028 EPS and 2024-2028 capital expenditure guidance DOVER, Del. , Nov. 6, 2025 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) ("Chesapeake Utilities" or the "Company") today announced financial results for the three and nine months ended September 30, 2025.