切萨皮克气业 2025年季度报告

FORM10-Q Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15 (d)of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reportingcompany,” and "emerging growth company" in Rule 12b-2 of the Exchange Act. Table of Contents If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒Common Stock, par value $0.4867—23,327,358shares outstanding as of May2, 2025. Table of Contents PART I—FINANCIAL INFORMATION ITEM1.FINANCIAL STATEMENTSMANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF PART II—OTHER INFORMATION ITEM1.LEGAL PROCEEDINGSITEM1A.RISK FACTORSITEM2.UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDSITEM3.DEFAULTS UPON SENIOR SECURITIESITEM5.OTHER INFORMATIONITEM6.EXHIBITS SIGNATURES GLOSSARY OFD ASC:Accounting Standards Codification issued by the FASB Adjusted Gross Margin:A non-GAAP measure calculated by deducting the purchased cost of natural gas, propane and electricity andthe cost of labor spent on direct revenue-producing activities from operating revenues. The costs included in Adjusted Gross Margin Aspire Energy:Aspire Energy of Ohio, LLC, a wholly-owned subsidiary of Chesapeake Utilities Aspire Energy Express:Aspire Energy Express, LLC, a wholly-owned subsidiary of Chesapeake Utilities ASU:Accounting Standards Update issued by the FASB ATM:At-the-market CDD:Cooling Degree-Day Chesapeake, Chesapeake Utilities or Company:Chesapeake Utilities Corporation, individually or collectively with its divisions andsubsidiaries, as appropriate in the context of the disclosure CHP:Combined Heat and Power Plant CNG:Compressed natural gas Degree-day:Measure of the variation in the weather based on the extent to which the average daily temperature reaches above (CDD)or below (HDD) 65 degrees Fahrenheit Delmarva Peninsula:A peninsula on the east coast of the U.S. comprised of Delaware and portions of Maryland and Virginia DRIP:Dividend Reinvestment and Direct Stock Purchase Plan Dt(s):Dekatherm(s), which is a natural gas unit of measurement that includes a standard measure for heating value Dts/d:Dekatherms per day Eastern Shore:Eastern Shore Natural Gas Company, a wholly-owned subsidiary of Chesapeake Utilities Eight Flags:Eight Flags Energy, LLC, a wholly-owned subsidiary of Chesapeake Utilities Elkton Gas: Elkton Gas Company, a wholly-owned subsidiary of Chesapeake Utilities FASB:Financial Accounting Standards Board FCG or Florida City Gas: Pivotal Utility Holdings, Inc, doing business as Florida City Gas, a wholly-owned subsidiary ofChesapeake Utilities that was acquired from Florida Power & Light Company on November 30, 2023 FERC:Federal Energy Regulatory Commission FGT:Florida Gas Transmission Company Florida Natural Gas:Refers to the Company's legacy Florida natural gas distribution operations (excluding FCG) that wereconsolidated under FPU, for both rate-making and operations purposes Florida OPC:The Office of Public Counsel, an agency established by the Florida legislature who advocates on behalf of Florida'sutility consumers prior to actions or rule changes FPU:Florida Public Utilities Company, a wholly-owned subsidiary of Chesapeake Utilities GAAP:Generally Accepted Accounting Principles Gross Margin:a term which is the excess of sales over costs of goods sold GUARD:Gas Utility Access and Replacement Directive, a PSC approved capital infrastructure program to enhance the safety,reliability and accessibility of portions of FPU’s natural gas distribution system in Florida Gulfstream:Gulfstream Natural Gas System, LLC, an unaffiliated pipeline network that supplies natural gas to FPU HDD:Heating Degree-Day LNG:Liquefied natural gas Marlin Gas Services:Marlin Gas Services, LLC, a wholly-owned subsidiary of Chesapeake Utilities Maryland OPC:The Office of People’s Counsel, an agency established by the Maryland legislature who advocates on behalf ofMaryland's utility consumers prior to actions or rule changes. MetLife:MetLife Investment Advisors, an institutional deb