Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) today reported first quarter financial results. The Company’s net income for the three months ended March 31, 2014 was $17.7 million, or $1.82 per share. This represents an increase of $2.8 million, or $0.28 per share, over the same quarter in 2013.
“We begin 2014 with another great quarter of financial results and growth. Our first quarter results reflect positive contributions from natural gas service expansions and acquisitions completed in 2013, as well as additional gross margin generated from colder temperatures,” stated Michael P. McMasters, President and Chief Executive Officer of Chesapeake Utilities Corporation. “I am particularly proud of our employees’ unwavering determination and drive during a significantly challenging winter. Operationally, we faced several periods of extreme weather, and our natural gas and propane employees responded to the challenges created by the sharply increased customer demands and the weather’s impact on the infrastructures of the Company and our suppliers,” Mr. McMasters added.
Chesapeake Utilities Corporation is a diversified utility company engaged in natural gas distribution, transmission and marketing, eletric distribution, propane distribution and wholesale marketing, advanced information services and other related businesses. Information about Chesapeake Utilities Corporation and the Chesapeake family of businesses is available at https://chpk.com
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