Chesapeake Utilities (CPK) Misses Q1 EPS by 17c
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Chesapeake Utilities Corporation Reports First Quarter Results
May 4, 2016 6:30 AM EDTDOVER, Del., May 4, 2016 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) ("Chesapeake Utilities" or the "Company") today reported first quarter financial results. The Company's net income for the quarter ended March 31, 2016 was $20.4 million, or $1.33 per share. This represents a decrease of $742,000, or $0.11 per share, compared to 2015. The period-over-period decrease was due primarily to the impact of warmer weather on the Company's natural gas and propane distribution operations. The Company estimates that lower usage due to the 26-percent warmer weather during the first quarter of 2016 reduced net income by $4.0 million and earnings... More
