Chesapeake Utilities Corporation

Standing Strong. Embracing Change. Shaping Our Future.

2020 Financial

Highlights

Our employees continued to come together across our Company, standing strong to successfully exceed the new challenges and uncertainties presented in 2020. We embraced change and implemented improved solutions for our customers. As we performed our day-to-day activities without service interruptions, we expanded our businesses and entered into new markets. We initiated and completed business initiatives while ensuring the safety and well-being of our customers, communities and each other.

Financial Highlights

(dollars in thousands, except per share data)

Diluted Earnings Per Share:
	2020	2019	2020/2019 % Change	2018	2019/2018 % Change
Gross Margin	$350,260	$325,104	8%	$300,146	8%
Operating Income from Continuing Operations	$112,723	$106,285	6%	$94,844	12%
Income from Continuing Operations	$70,642	$61,100	16%	$56,968	7%
Net Income	$71,498	$65,153	10%	$56,580	15%
From Continuing Operations	$4.21	$3.72	13%	$3.47	7%
Consolidated	$4.26	$3.96	8%	$3.45	15%
Annualized Dividends Per Share	$1.76	$1.62	9%	$1.48	9%
Total Assets	$1,932,487	$1,783,198	8%	$1,693,671	5%
Stockholders’ Equity	$697,085	$561,577	24%	$518,439	8%
Other
Employees	947	955	-1%	983	-3%
Shares Outstanding at Year End	17,461,841	16,403,776	6%	16,378,545	-
Average Distribution Customers	277,580	255,623	9%	247,487	3%

Our shared commitment and hard work continue to be exemplified by our superior performance and positive results.

The dedication of our employees positions us for growth opportunities year after year, and is reflected by the milestones achieved and accolades earned, especially during this unprecedented time. In today’s workplace, our employees have gone above and beyond mere compliance. We innovate with responsibility and integrity to provide safe and reliable delivery service and to use our understanding of technology to instill inclusiveness and to remain connected with our colleagues and external stakeholders. As a Company, we remain grounded and steadfastly focused on leading within the industry, growing our businesses and supporting our communities while shaping the future to facilitate sustainable practices and generate long-term value for our stakeholders.

Diluted Earnings Per Share from Continuing Operations