RGC Resources, Inc. Reports Second Quarter Earnings

ROANOKE, Va., Might 06, 2025 (GLOBE NEWSWIRE) — RGC Sources, Inc. (Nasdaq: RGCO) introduced consolidated Firm earnings of $7,676,208, or $0.74 per share, for the second quarter ended March 31, 2025, in comparison with $6,443,390, or $0.63 per share, for the second quarter ended March 31, 2024. The first drivers of the elevated earnings have been greater base charges that went into impact July 1, 2024 and elevated volumes, offset by decrease earnings from unconsolidated affiliate and better curiosity expense.

Cooler winter climate and better base charges drove greater margins and earnings. CEO Paul Nester acknowledged, “We had a powerful second quarter as utility margin elevated 12%, enhanced by a colder January and by a big industrial buyer who continued sturdy utilization in comparison with the identical interval a yr in the past. The Firm’s earnings from its funding within the MVP, with the pipeline in operation, have been $801,175 within the second quarter ended March 31, 2025, down from $1,229,384 within the second quarter ended March 31, 2024. The bigger 2024 quantity corresponded to the Firm’s share of Allowance for Funds Used Throughout Building (AFUDC) throughout the development section.”

By way of the primary six months of fiscal 2025, the Firm’s web earnings of $12,945,897, or $1.26 per share, was up 12.9% from $11,463,382, or $1.14 per share, with comparable causes because the quarter – greater utility margin offset by decrease earnings from the Firm’s funding in MVP and better curiosity expense. In early April, the State Company Fee issued a remaining order and made everlasting the negotiated charges from the Firm’s 2024 price case submitting.

RGC Sources, Inc. supplies power and associated services and products to clients in Virginia by way of its working subsidiaries Roanoke Gasoline Firm and RGC Midstream, LLC.

Utility margin is a non-GAAP measure outlined as utility revenues much less value of gasoline. Administration considers this non-GAAP measure to supply helpful data to each administration and traders for function of such comparability and in evaluating working efficiency, however it needs to be thought of along with outcomes ready in accordance with GAAP and shouldn’t be thought of an alternative choice to, or superior to, GAAP outcomes.

The statements on this launch that aren’t historic details represent “forward-looking statements” made pursuant to the protected harbor provision of the Non-public Securities Litigation Reform Act of 1995 that contain dangers and uncertainties. So as to adjust to the phrases of the protected harbor, the Firm notes that quite a lot of components might trigger the Firm’s precise outcomes and expertise to vary materially from any expectations expressed within the Firm’s forward-looking statements, relating to inflation, rates of interest, buyer development, infrastructure funding and margins. These dangers and uncertainties embody gasoline costs and provide, home and geopolitical concerns, together with dangers included underneath Merchandise 1-A within the Firm’s fiscal 2024 Type 10-Ok. Ahead-looking statements replicate the Firm’s present expectations solely as of the date they’re made. The Firm assumes no responsibility to replace these statements ought to expectations change or precise outcomes differ from present expectations besides as required by relevant legal guidelines and rules.

Previous efficiency will not be essentially a predictor of future outcomes.

Abstract monetary statements for the second quarter and financial yr to this point are as follows: