Chesapeake Utilities Q1 Earnings Surpass Estimates

Chesapeake Utilities (CPK - Free Report) came out with quarterly earnings of $1.68 per share, beating the Zacks Consensus Estimate of $1.60 per share. This compares to earnings of $1.40 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 5%. A quarter ago, it was expected that this energy and utility company would post earnings of $1.22 per share when it actually produced earnings of $1.10, delivering a surprise of -9.84%.

Over the last four quarters, the company has surpassed consensus EPS estimates just once.

Chesapeake Utilities, which belongs to the Zacks Utility - Gas Distribution industry, posted revenues of $227.62 million for the quarter ended March 2019, missing the Zacks Consensus Estimate by 16.04%. This compares to year-ago revenues of $239.36 million. The company has topped consensus revenue estimates just once over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Chesapeake Utilities shares have added about 13.4% since the beginning of the year versus the S&P 500's gain of 15.1%.

What's Next for Chesapeake Utilities?

While Chesapeake Utilities has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

1 2
View single page >> |

Disclosure: Zacks.com contains statements and statistics that have been obtained from sources believed to be reliable but are not guaranteed as to accuracy or completeness. References to any specific ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.