Rgc Resources Stock Price, News & Analysis

RGC Resources, Inc. (Nasdaq: RGCO) reported consolidated earnings of $156,692, or $0.02 per share, for the third quarter ended June 30, 2024, down from $686,816, or $0.07 per share, in the same period last year. The decline was attributed to higher operating costs and lower earnings from the Mountain Valley Pipeline (MVP) investment. Despite this, the company's nine-month net income increased by 13% to $11,620,074, or $1.15 per share, primarily due to MVP earnings. CEO Paul Nester highlighted the MVP's transition to operational status, which is expected to enhance system reliability and support regional growth. Roanoke Gas has filed for rate relief to address increasing costs, with interim rates effective July 1, 2024.

RGC Resources, Inc. (Nasdaq: RGCO) has announced its upcoming fiscal third quarter 2024 earnings call and webcast, scheduled for Wednesday, August 7, 2024, at 9:00 a.m. eastern time. The company will review its quarterly results during this event. Interested parties can access the conference call by dialing toll-free 1-877-304-9269 and using the conference identification number 917621.

Prior to the call, related presentation materials will be available on the company's website under the Investor & Financial Information page. An archive of the webcast will be accessible for one year on the same webpage. RGC Resources provides energy and related products and services to customers in Virginia through its operating subsidiaries Roanoke Gas Company and RGC Midstream,

Roanoke Gas Company, a subsidiary of RGC Resources (Nasdaq: RGCO), marked a significant milestone by starting to receive natural gas from the new Mountain Valley Pipeline (MVP) on June 14, 2024. This is the first new interstate natural gas pipeline for the Roanoke Valley since 1965. The MVP enhances the supply and reliability of natural gas, meeting the increasing demand from residential, commercial, and industrial sectors. The pipeline also provides access to cheaper natural gas markets, benefiting customers and propelling regional economic development.

RGC Resources, Inc. (NASDAQ: RGCO) announced the declaration of a $0.20 per share quarterly dividend for its common stock, marking the 321st consecutive quarterly cash dividend. The dividend will be paid on August 1, 2024, to shareholders of record on July 17, 2024. RGC Resources, Inc. provides energy and related products and services in Virginia through its subsidiaries.

RGC Resources, Inc. reported second-quarter earnings with a slight increase in consolidated company earnings compared to the same period last year. The earnings were driven by improved utility margins, investments in utility infrastructure, and earnings from the Company's investment in the Mountain Valley Pipeline, However, lower revenues due to a mild winter and inflationary cost pressures pose challenges to earnings. The Company's net income for the first six months of fiscal 2024 showed a significant increase primarily due to earnings from the MVP.