Chesapeake Utilities Q1 2024 Adj EPS $2.10 Misses $2.12 Estimate, Sales $245.744M Miss $260.150M Estimate
Portfolio Pulse from Benzinga Newsdesk
Chesapeake Utilities (NYSE:CPK) reported Q1 2024 adjusted EPS of $2.10, missing the $2.12 estimate, and sales of $245.744M, missing the $260.150M estimate. This represents a 2.94% increase in EPS and a 12.66% increase in sales from the same period last year.
May 08, 2024 | 8:48 pm
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NEGATIVE IMPACT
Chesapeake Utilities reported a slight miss in Q1 2024 earnings and sales against analyst estimates, with a year-over-year increase in both EPS and sales.
Missing analyst estimates for both earnings per share and sales typically leads to negative investor sentiment in the short term, potentially causing a decrease in stock price. However, the year-over-year growth in both metrics may mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100