Chesapeake Utilities (CPK) FY2019 results: revenue $480 million, down 2.2% on the year
Chesapeake Utilities Corp. (CPK) reported revenue of $480 million for fiscal 2019, the year ended 31 December 2019, down 2.2% on the year before. Net income was $65 million, up 15.2%, and diluted earnings per share $3.96. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2020.
Revenue
$480 million
-2.2% on the year
FY2012FY2019
Operating margin
22.2%
19.3% a year earlier
FY2012FY2019
Net income
$65 million
+15.2% on the year
FY2012FY2019
Diluted EPS
$3.96
+14.8% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
480
490
450
-2.2%
Operating income
106
94.8
89.7
+12.1%
Operating margin
22.2%
19.3%
20.0%
Interest expense
22.2
16.1
12.5
+37.6%
Pre-tax income
82.2
78.1
75.0
+5.3%
Income tax
21.1
21.1
14.7
-0.2%
Effective tax rate
25.6%
27.0%
19.6%
Net income
65.2
56.6
58.1
+15.2%
Net margin
13.6%
11.5%
12.9%
Diluted EPS
$3.96
$3.45
$3.55
+14.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
103
117
110
-12.3%
Capital expenditure
185
240
175
-23.1%
Free cash flow
-81.8
-123
-65.2
Free cash flow margin
-17.0%
-25.1%
-14.5%
Cash from investing
-187
-257
-187
Cash from financing
84.5
140
78.2
-39.6%
Depreciation and amortisation
45.4
40.2
36.4
+12.9%
Share-based compensation
4.3
2.8
2.5
+52.1%
Buybacks
0.7
0.7
n/a
+2.1%
Dividends paid
24.7
22.0
19.9
+12.0%
Dividend per share
$1.58
$1.44
$1.28
+10.5%
Diluted shares, weighted
16m
16m
16m
+0.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
562
518
486
+8.3%
Debt
733
622
458
+17.8%
Operating lease liabilities
9.9
n/a
n/a
Other liabilities
479
553
473
-13.4%
Total liabilities and equity
1,783
1,694
1,417
+5.3%
Fixed assets
1,464
1,354
1,126
+8.1%
Goodwill
32.7
21.6
19.6
+51.5%
Intangible assets
8.1
3.9
4.7
+111.1%
Cash and equivalents
7.0
6.1
5.6
+14.7%
Receivables
49.6
53.8
77.2
-7.9%
Other assets
222
255
184
-12.9%
Total assets
1,783
1,694
1,417
+5.3%
10-K for the year ended 31 December 2019, filed 26 February 2020: the filing.