Chesapeake Utilities (CPK) Corporate presentation summary

Company overview and business segments

• Operates a diversified portfolio with regulated and unregulated energy delivery, serving ~440,000 customers across multiple states.

• $2.5B market cap and $3.3B in total assets as of March 31, 2024.

• Business lines include natural gas transmission/distribution, electric distribution, propane, CNG, CHP, and RNG.

• 160+ years of operations with a workforce of ~1,250 employees.

Financial performance and growth

• Achieved 10x asset and adjusted net income growth since 2003, with a 20-year EPS CAGR of 8%.

• Q1 2024 adjusted EPS was $2.10, with 2024 guidance of $5.33–$5.45 and 2025 guidance of $6.15–$6.35.

• Gross margin and net income both grew nearly 30% year-over-year in Q1 2024.

• 21 consecutive years of dividend increases, with a current annualized dividend of $2.56/share and a 10-year dividend CAGR of 9%.

Capital investment and project pipeline

• 5-year CapEx guidance of $1.5–$1.8B, with $1.3B in identified projects already underway.

• 2024 capital expenditures expected at $300–$360M, with 21% spent in Q1.

• Major projects include Florida and Delmarva infrastructure expansions, RNG facilities, and resiliency upgrades.

• Significant investments in technology transformation and storm protection.