切萨皮克气业 2026年季度报告

FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the quarterly period ended: March31, 2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the transition period fromtoCommission File Number: 001-11590 CHESAPEAKEUTILITIESCORPORATION(Exact name of registrant as specified in its charter) 51-0064146 (I.R.S. EmployerIdentification No.) (State or other jurisdictionof incorporation or organization) 500 Energy Lane, Dover, Delaware 19901(Address of principal executive offices, including Zip Code) (302) 734-6799(Registrant’s telephone number, including area code) Title of each classTrading Symbol(s)Name of each exchange on which registeredCommon Stock - par value per share $0.4867CPKNew York Stock Exchange, Inc. 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),and (2)has been subject to such filing requirements for the past 90 days.Yes☒No☐ 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 theregistrant was required to submit such files).Yes☒No☐ 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. Large accelerated filer Non-accelerated filer 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 — 24,004.761 shares outstanding as of May4, 2026. Table of Contents PART I—FINANCIAL INFORMATION1ITEM1.FINANCIAL STATEMENTS1ITEM2.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS27ITEM3.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK49ITEM4.CONTROLS AND PROCEDURES50PART II—OTHER INFORMATION50ITEM1.LEGAL PROCEEDINGS50ITEM1A.RISK FACTORS51ITEM2.UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS51ITEM3.DEFAULTS UPON SENIOR SECURITIES51ITEM5.OTHER INFORMATION51ITEM6.EXHIBITS52SIGNATURES53 Table of Contents GLOSSARY OFDEFINITIONS 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 Marginexclude depreciation and amortization and certain costs presented in operations and maintenance expenses in accordance withregulatory requirements 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 BOD:Chesapeake Utilities Corporation's Board of Directors 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/DSPP: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 En