Chesapeake Utilities Corporation is an American corporation formed in 1947. Chesapeake Utilities Corporation is a diversified energy company engaged, through our operating divisions and subsidiaries, in various energy and other businesses. Headquartered in Delaware, Chesapeake Utilities Corporation operates primarily within the Middle-Atlantic, Southeast and Midwest regions, providing natural gas distribution and transmission, natural gas supply, gathering and processing, electric distribution and propane distribution service.3 Its shares trade on NYSE under the symbol CPK.1Wikipedia text CC BY-SA 4.0
Chesapeake Utilities Corporation is an American corporation formed in 1947. Chesapeake Utilities Corporation is a diversified energy company engaged, through our operating divisions and subsidiaries, in various energy and other businesses. Headquartered in Delaware, Chesapeake Utilities Corporation operates primarily within the Middle-Atlantic, Southeast and Midwest regions, providing natural gas distribution and transmission, natural gas supply, gathering and processing, electric distribution and propane distribution service.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Where each dollar of operating cash went, fiscal 2025
Capital spendingDividends paid
Capital spending88¢$448.6M
Dividends paid12¢$60.7M
Out of $233.7M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.9
Financial statements
Revenue101112139$930.0M in 2025+94% since 2019Operating income101112139$255.9M in 2025+141% since 2019Net income101112139$140.3M in 2025+115% since 2019
Revenue1415$201.9M in Q2 FY2026−43% since Q1 FY2026Operating income1415$52.9M in Q2 FY2026−47% since Q1 FY2026Net income1415$25.4M in Q2 FY2026−57% since Q1 FY2026
Every line of the income statement as filed: the last 3 fiscal years, latest first.9
Period ending
2025-12-31
2024-12-31
2023-12-31
Regulated Energy
$687.8M
$583.4M
$473.6M
Unregulated Energy
$271.9M
$228.4M
$223.1M
Other
-$29.7M
-$24.6M
-$26.1M
Total operating revenues
$930.0M
$787.2M
$670.6M
Natural gas and electricity costs
$193.8M
$144.2M
$140.0M
Propane and natural gas costs
$97.7M
$75.6M
$76.5M
Operations
$229.3M
$210.1M
$178.4M
Maintenance
$23.9M
$22.5M
$20.4M
Depreciation and amortization
$91.7M
$65.7M
$65.5M
Other taxes
$36.5M
$36.9M
$28.6M
Total operating expenses
$674.1M
$559.0M
$519.8M
Operating Income
$255.9M
$228.2M
$150.8M
Other income, net
$9.6M
$2.0M
$1.4M
Interest charges
$72.5M
$68.4M
$36.9M
Income Before Income Taxes
$193.0M
$161.8M
$115.3M
Income taxes
$52.7M
$43.2M
$28.1M
Net Income (Loss) Attributable to Parent
$140.3M
$118.6M
$87.2M
Basic (in shares)
23.4M shares
22.5M shares
18.4M shares
Diluted (in shares)
23.5M shares
22.5M shares
18.4M shares
Income (Loss) from Continuing Operations, Per Basic Share
$6
$5
$5
Basic (in usd per share)
$6.00
$5.28
$4.75
Income (Loss) from Continuing Operations, Per Diluted Share
$6
$5
$5
Diluted (in usd per share)
$5.97
$5.26
$4.73
Transaction-related expenses
$1.2M
$4.0M
$10.4M
No quarter-by-quarter statement was filed.
Total assets16101112139$4.0B in 2025+124% since 2019Shareholders’ equity1112139$1.6B in 2025+185% since 2019Cash16101112139$1.8M in 2025−74% since 2019Long-term debt16101112139$1.3B in 2025+201% since 2019
Total assets1514$4.2B in Q2 FY2026+4% since Q2 FY2025Shareholders’ equity1514$1.7B in Q2 FY2026+5% since Q2 FY2025Cash1514$400.0K in Q2 FY2026−78% since Q2 FY2025Long-term debt1514$1.3B in Q2 FY2026−1% since Q2 FY2025
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.9
Period ending
2025-12-31
2024-12-31
2023-12-31
2022-12-31
Regulated Energy
$2.9B
$2.7B
Unregulated Energy
$492.4M
$463.7M
Other businesses
$38.3M
$29.9M
Construction Work in Progress
$283.7M
$148.1M
Cash and cash equivalents
$1.8M
$7.9M
Accounts Receivable, before Allowance for Credit Loss, Current
$106.9M
$80.0M
Accrued Revenue
$50.1M
$37.8M
Propane inventory, at average cost
$8.8M
$8.9M
Income taxes receivable
$0
$6.8M
Prepaid expenses
$19.7M
$17.3M
Other current assets
$3.0M
$2.6M
Total current assets
$237.0M
$204.3M
Operating Lease, Right-of-Use Asset
$9.9M
$10.5M
Regulatory assets
$74.3M
$77.4M
Receivables and other deferred charges
$17.3M
$11.7M
Total deferred charges and other assets
$639.4M
$636.8M
Additional paid-in capital
$962.8M
$830.5M
Retained earnings
$626.8M
$550.3M
Accumulated other comprehensive loss
-$2.7M
-$1.7M
-$2.8M
Treasury Stock, Value
-$12.6M
-$9.8M
Total capitalization
$2.9B
$2.7B
Current portion of long-term debt
$134.6M
$25.5M
Customer deposits and refunds
$45.1M
$45.7M
Accrued interest
$8.7M
$4.8M
Dividends payable
$16.4M
$14.7M
Regulatory liabilities
$14.5M
$16.1M
Derivative liabilities, at fair value
$800.0K
$0
Other accrued liabilities
$15.0M
$13.9M
Operating Lease, Liability, Noncurrent
$7.9M
$8.7M
Total Capitalization and Liabilities
$4.0B
$3.6B
Total property, plant and equipment
$3.5B
$3.2B
Accumulated depreciation
$637.6M
$567.6M
Net property, plant and equipment
$3.1B
$2.7B
Trade and other receivables, net
$101.5M
$76.7M
Other inventory, at average cost
$17.9M
$18.0M
Regulatory assets
$29.7M
$23.9M
Storage gas prepayments
$4.5M
$3.8M
Derivative assets, at fair value
$0
$600.0K
Goodwill
$507.5M
$507.7M
Other intangible assets, net
$13.2M
$15.0M
Investments, Fair Value Disclosure
$17.2M
$14.4M
Energy Marketing Contracts Assets, Noncurrent
$0
$100.0K
Total identifiable assets
$4.0B
$3.6B
Preferred stock, par value $0.01 per share (authorized 2,000,000 shares), no shares issued and outstanding
$0
$0
Common stock, par value $0.4867 per share (authorized 75,000,000 shares)
$11.6M
$11.1M
Deferred compensation obligation
$12.6M
$9.8M
Stockholders' Equity Attributable to Parent
$1.6B
$1.4B
$1.2B
$832.7M
Long-term debt, net of current maturities
$1.3B
$1.3B
Short-term borrowing
$158.0M
$196.5M
Accounts payable
$115.2M
$78.3M
Accrued compensation
$21.6M
$23.9M
Liabilities, Current
$529.9M
$419.4M
Deferred income taxes
$313.3M
$296.1M
Regulatory liabilities
$188.1M
$184.0M
Environmental liabilities
$2.9M
$2.2M
Other pension and benefit costs
$14.0M
$13.2M
Energy Marketing Contract Liabilities, Noncurrent
$600.0K
$100.0K
Deferred investment tax credits and other liabilities
$12.5M
$1.4M
Deferred Credits and Other Liabilities
$539.3M
$505.7M
Allowance for uncollectible accounts
$5.4M
$3.3M
Common stock, par value
$0.49
$0.49
Common stock, shares authorized
75.0M shares
50.0M shares
Preferred Stock, Shares Authorized
2.0M shares
2.0M shares
Preferred Stock, Par or Stated Value Per Share
$10.00
$10.00
Period ending
2025-12-31
2024-12-31
2023-12-31
2022-12-31
Regulated Energy
$2.9B
$2.7B
Unregulated Energy
$492.4M
$463.7M
Other businesses
$38.3M
$29.9M
Construction Work in Progress
$283.7M
$148.1M
Cash and cash equivalents
$1.8M
$7.9M
Accounts Receivable, before Allowance for Credit Loss, Current
$106.9M
$80.0M
Accrued Revenue
$50.1M
$37.8M
Propane inventory, at average cost
$8.8M
$8.9M
Income taxes receivable
$0
$6.8M
Prepaid expenses
$19.7M
$17.3M
Other current assets
$3.0M
$2.6M
Total current assets
$237.0M
$204.3M
Operating Lease, Right-of-Use Asset
$9.9M
$10.5M
Regulatory assets
$74.3M
$77.4M
Receivables and other deferred charges
$17.3M
$11.7M
Total deferred charges and other assets
$639.4M
$636.8M
Additional paid-in capital
$962.8M
$830.5M
Retained earnings
$626.8M
$550.3M
Accumulated other comprehensive loss
-$2.7M
-$1.7M
-$2.8M
Treasury Stock, Value
-$12.6M
-$9.8M
Total capitalization
$2.9B
$2.7B
Current portion of long-term debt
$134.6M
$25.5M
Customer deposits and refunds
$45.1M
$45.7M
Accrued interest
$8.7M
$4.8M
Dividends payable
$16.4M
$14.7M
Regulatory liabilities
$14.5M
$16.1M
Derivative liabilities, at fair value
$800.0K
$0
Other accrued liabilities
$15.0M
$13.9M
Operating Lease, Liability, Noncurrent
$7.9M
$8.7M
Total Capitalization and Liabilities
$4.0B
$3.6B
Total property, plant and equipment
$3.5B
$3.2B
Accumulated depreciation
$637.6M
$567.6M
Net property, plant and equipment
$3.1B
$2.7B
Trade and other receivables, net
$101.5M
$76.7M
Other inventory, at average cost
$17.9M
$18.0M
Regulatory assets
$29.7M
$23.9M
Storage gas prepayments
$4.5M
$3.8M
Derivative assets, at fair value
$0
$600.0K
Goodwill
$507.5M
$507.7M
Other intangible assets, net
$13.2M
$15.0M
Investments, Fair Value Disclosure
$17.2M
$14.4M
Energy Marketing Contracts Assets, Noncurrent
$0
$100.0K
Total identifiable assets
$4.0B
$3.6B
Preferred stock, par value $0.01 per share (authorized 2,000,000 shares), no shares issued and outstanding
$0
$0
Common stock, par value $0.4867 per share (authorized 75,000,000 shares)
$11.6M
$11.1M
Deferred compensation obligation
$12.6M
$9.8M
Stockholders' Equity Attributable to Parent
$1.6B
$1.4B
$1.2B
$832.7M
Long-term debt, net of current maturities
$1.3B
$1.3B
Short-term borrowing
$158.0M
$196.5M
Accounts payable
$115.2M
$78.3M
Accrued compensation
$21.6M
$23.9M
Liabilities, Current
$529.9M
$419.4M
Deferred income taxes
$313.3M
$296.1M
Regulatory liabilities
$188.1M
$184.0M
Environmental liabilities
$2.9M
$2.2M
Other pension and benefit costs
$14.0M
$13.2M
Energy Marketing Contract Liabilities, Noncurrent
$600.0K
$100.0K
Deferred investment tax credits and other liabilities
$12.5M
$1.4M
Deferred Credits and Other Liabilities
$539.3M
$505.7M
Allowance for uncollectible accounts
$5.4M
$3.3M
Common stock, par value
$0.49
$0.49
Common stock, shares authorized
75.0M shares
50.0M shares
Preferred Stock, Shares Authorized
2.0M shares
2.0M shares
Preferred Stock, Par or Stated Value Per Share
$10.00
$10.00
Cash from operations101112139$233.7M in 2025+127% since 2019Capital spending101112139$448.6M in 2025+143% since 2019Free cash flow101112139-$214.9M in 2025+163% since 2019Dividends paid101112139$60.7M in 2025+146% since 2019Share buybacks1011-$4.5M in 2022
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.9
Period ending
2025-12-31
2024-12-31
2023-12-31
Net Income
$140.3M
$118.6M
$87.2M
Depreciation and amortization
$91.7M
$65.7M
$65.5M
Depreciation and accretion included in operations expenses
$15.9M
$15.8M
$11.9M
Deferred income taxes and investment tax credits
$28.8M
$36.4M
$3.4M
Realized gains on sale of assets/commodity contracts
-$10.6M
-$4.4M
-$800.0K
Unrealized gains on investments/commodity contracts
-$2.1M
-$1.8M
-$1.9M
Employee benefits and compensation
$0
$0
$300.0K
Share-based compensation
$8.5M
$8.4M
$7.6M
Accounts receivable and accrued revenue
-$37.1M
-$10.3M
$2.3M
Propane inventory, storage gas and other inventory
Chesapeake Utilities sits at the top of its group. 29 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Chesapeake UtilitiesDover, Delaware, United States
Amelia Island Energy, LLC Subsidiary · Delaware, United States
Amelia Renewables, LLC Subsidiary · Delaware, United States
Aspire Energy Express, LLC Subsidiary · Delaware, United States
Aspire Energy of Ohio, LLC Subsidiary · Delaware, United States
Blue Peake LNG, LLC Subsidiary · Delaware, United States
Chesapeake Emergency Energy Recipient Program, Inc. Subsidiary · Delaware, United States
Chesapeake Investment Company Subsidiary · Delaware, United States
Chesapeake OnSight Services LLC Subsidiary · Delaware, United States
Chesapeake Service Company Subsidiary · Delaware, United States
Chesapeake Utilities of Maryland, Inc. Subsidiary · Maryland, United States
CUC Shared Services, Inc. Subsidiary · Delaware, United States
Eastern Shore Natural Gas Company Subsidiary · Delaware, United States
Eastern Shore Real Estate, Inc. Subsidiary · Delaware, United States
Eight Flags Energy, LLC Subsidiary · Delaware, United States
Flo-Gas Corporation Subsidiary · Florida, United States
Florida Public Utilities Company Subsidiary · Florida, United States
FPU Renewables, LLC Subsidiary · Delaware, United States
Marlin Compression, LLC Subsidiary · Delaware, United States
Marlin Gas Services, LLC Subsidiary · Delaware, United States
OnSight Renewables, LLC Subsidiary · Delaware, United States
PENINSULA ENERGY SERVICES COMPANY, INC. Subsidiary · Dover, Delaware, United States
Peninsula Pipeline Company, Inc. Subsidiary · Delaware, United States
Pivotal Utility Holdings, Inc. Subsidiary · New Jersey, United States
Planet Found Energy Development, LLC Subsidiary · Maryland, United States
Sandpiper Energy, Inc. Subsidiary · Delaware, United States
and 3 more
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Chesapeake Utilities reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
We own or lease offices and other operational facilities in our service territories located in Pennsylvania, Delaware, Maryland, Virginia, North Carolina, South Carolina, Florida and Ohio.
The rest of Item 2
The following table presents a summary of miles of assets operated by our natural gas distribution, natural gas transmission and electric business units as of December 31, 2025:
Operations · Miles
Delmarva Natural Gas (Natural gas pipelines) · 2,187
Delmarva Natural Gas (Underground propane pipelines) · 17
FPU (Natural gas pipelines) · 3,270
FCG (Natural gas pipelines) · 4,087
Eastern Shore · 532
FCG · 79
Peninsula Pipeline · 197
Aspire Energy Express (1) · —
FPU · 926
Total · 11,295
(1) Aspire Energy Express had less than 1 mile of natural gas pipeline at December 31, 2025.
Peninsula Pipeline also has a 50 percent jointly owned intrastate transmission pipeline with Seacoast Gas Transmission, LLC ("Seacoast Gas Transmission") in Nassau County, Florida. The 26-mile pipeline serves demand in both Nassau and Duval Counties.
The following table presents propane storage capacity, miles of underground distribution mains and transmission for our Unregulated Energy Segment operations as of December 31, 2025:
Operations · Gallons or miles
Propane distribution
Propane storage capacity (gallons in millions) · 8.4
Underground propane distribution mains (miles) · 152
Unregulated Energy Transmission and gathering (Aspire Energy)
Chesapeake Utilities Corporation was incorporated in Delaware in 1947. Chesapeake Utilities Corporation is a diversified energy company engaged, directly or through operating divisions and subsidiaries, in regulated and unregulated energy businesses. The Company's common stock began trading on the NASDAQ Exchange in 1985 and on the New York Stock Exchange (currently traded as CPK) in 1993.
The company began construction of the controversial Eastern Shore Pipeline on the Eastern Shore of Maryland in 2021.
Chesapeake Utilities Corporation operates directly or through operating divisions and subsidiaries throughout the diversified energy midstream and downstream supply chain.
Aspire Energy of Ohio operates more than 2,600 miles of pipeline systems in 40 counties throughout Ohio.
Chesapeake Utilities and Sandpiper Energy distribute natural gas to tens of thousands of residential, commercial and industrial customers in Delaware and Maryland. Additionally, Sandpiper Energy distributes propane and natural gas to customers in Worcester County, Maryland.
Eastern Shore Natural Gas owns and operates a 448-mile interstate pipeline that transports natural gas from various points in Pennsylvania to customers in Delaware, Maryland and Pennsylvania.
Read the full text
Florida Public Utilities (FPU) distributes natural gas to tens of thousands of residential and commercial customers in Florida. It also distributes electricity and propane to various regions in Florida.
Peninsula Energy Services Company (PESCO) provides natural gas supply and supply management services to customers in Florida and on the Delmarva Peninsula.
Peninsula Pipeline Company provides natural gas transportation services in Florida.
Sharp Energy distributes propane to nearly 40,000 customers in Delaware, eastern Pennsylvania, Maryland and Virginia. Sharp AutoGas fuels more than 600 vehicles through its more than 30 propane fueling stations throughout the Delmarva Peninsula.
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
365 filings to the SEC since October 2021: 6 annual reports, 17 quarterly reports, 67 major events, 208 insider forms, 21 large holders, 46 other. The latest 20:
24 open-market trades by officers, directors and large owners since October 2021: 1 buys and 23 sales. Grants, option exercises and gifts are left out.
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Chesapeake Utilities is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
From the cover page of the 10-K filed Feb 25, 2026 (Section 12(b) of the Exchange Act).17
Risk factors and legal proceedings
The risks Chesapeake Utilities names in Item 1A of its 10-K filed Feb 25, 2026: 36 risks under these headings, as written.17
FINANCIAL RISKS
Our financial results may fluctuate significantly and may not fully reflect the underlying performance of our business.
Our access to the capital markets at competitive rates, which could be impacted by instability and volatility in the financial markets as well as our credit ratings, could negatively impact access to capital at competitive rates which could affect our ability to implement our strategic plan, undertake improvements and make other investments required for our future growth.
If we fail to comply with our debt covenant obligations, we could experience adverse financial consequences that could affect our liquidity and ability to borrow funds.
Increases in interest rates may adversely affect our results of operations and cash flows.
Continuing or worsening inflationary and/or supply chain issues may adversely impact our financial condition and results of operations.
Disruptions, uncertainty or volatility in the credit and capital markets may exert downward pressure on the market price of the Company’s common stock.
Fluctuations in propane gas prices could negatively affect results of operations.
OPERATIONAL RISKS
We must construct new facilities to support future growth in earnings in our natural gas and electric distribution and natural gas transmission operations.
We do not own all of the land on which our pipelines and facilities are located, which could result in disruptions to our operations.
We operate in a competitive environment, and we may lose customers to competitors.
The other 26 risks
Fluctuations in weather may cause a significant variance in our earnings.
Severe weather events (such as a major hurricane, flood, or tornado), natural disasters and acts of terrorism could adversely impact earnings and access to insurance coverage.
Operating events affecting public safety and the reliability of our natural gas and electric distribution and transmission systems could adversely affect our operations and increase our costs.
A security breach disrupting our operating systems, facilities, and workforce or exposing confidential information may adversely affect our reputation, disrupt our operations and increase our costs.
The Company’s business, results of operations, financial condition and cash flows could be adversely affected by interruption of the Company’s information technology or network systems as well as the Company’s implementation of its technology roadmap.
Concerns relating to the responsible use of new and evolving technologies, such as AI, may result in reputational or financial harm and liability.
Failure to attract and retain an appropriately qualified employee workforce could adversely affect operations.
A strike, work stoppage or a labor dispute could adversely affect our operations.
Our businesses are capital-intensive, and the increased costs and/or delays of capital projects may adversely affect our future earnings.
Our regulated energy business may be at risk if franchise agreements are not renewed, or new franchise agreements are not obtained, which could adversely affect our future results or operating cash flows and financial condition.
Slowdowns in customer growth may adversely affect earnings and cash flows.
Energy conservation could lower energy consumption, which would adversely affect our earnings.
Commodity price increases may adversely affect the operating costs and competitive positions of our natural gas, electric and propane operations, which may adversely affect our financial condition, results of operations and cash flows.
Our use of derivative instruments may adversely affect our results of operations.
A substantial disruption or lack of growth in interstate natural gas pipeline transmission and storage capacity or electric transmission capacity may impair our ability to meet customers’ existing and future requirements.
Our ability to grow our businesses could be adversely affected if we are not successful in making acquisitions or integrating the acquisitions we have completed.
An impairment of our assets including long-lived assets, goodwill and other intangible assets, could negatively impact our financial condition and results of operations.
REGULATORY, LEGAL AND ENVIRONMENTAL RISKS
Regulation of our businesses, including changes in the regulatory environment, may adversely affect our financial condition, results of operations and cash flows.
We may face certain regulatory and financial risks related to pipeline safety legislation.
Pipeline integrity programs and repairs may impose significant costs and liabilities on the Company.
We are subject to operating and litigation risks that may not be fully covered by insurance.
Costs of compliance with environmental laws may be significant.
Unanticipated changes in our tax provisions or exposure to additional tax liabilities could affect our profitability and cash flow.
Our business may be subject in the future to additional regulatory and financial risks associated with global warming and climate change.
Climate changes may impact the demand for our services in the future and could result in more frequent and more severe weather events, which ultimately could adversely affect our financial results.
Our certificate of incorporation and bylaws may delay or prevent a transaction that stockholders would view as favorable.
Legal proceedings
See Item 8, Financial Statements and Supplementary Data (Note 19, Other Commitments and Contingencies, in the consolidated financial statements), which is incorporated into Item 3 by reference.
