Rgc Resources Stock Price, News & Analysis

RGC Resources, Inc. (NASDAQ: RGCO) is set to host its quarterly conference call on February 10, 2023, at 9:00 a.m. ET, to discuss the fiscal first quarter 2023 results. Interested parties can access the call by dialing 1-877-304-9269, using conference ID 917621. The related presentation materials will be available on the Company's Investor & Financial Information page prior to the call. RGC Resources provides energy services to customers in Virginia through its subsidiaries, Roanoke Gas Company and RGC Midstream, LLC. The Company may also issue forward-looking statements regarding financial performance and business prospects.

The Virginia State Corporation Commission has approved Roanoke Gas Company’s application to build a renewable natural gas (RNG) facility in collaboration with the Western Virginia Water Authority. This facility will convert biogas from the Roanoke Regional Water Pollution Control Plant into commercial-quality RNG. The project, which represents a $16.5 million investment, aims to enhance local fuel supply, reduce greenhouse gas emissions, and potentially lower customer rates. Roanoke Gas is the first utility in Virginia to gain approval under the Virginia Energy Innovation Act, with construction scheduled to commence in the coming weeks.

The Board of Directors of RGC Resources has declared a quarterly dividend of $0.1975 per share on January 23, 2023. This dividend will be paid on May 1, 2023, to shareholders of record on April 17, 2023. This marks the company’s 316th consecutive quarterly cash dividend. RGC Resources serves approximately 63,000 customers in Virginia through subsidiaries like Roanoke Gas Company. The company noted that forward-looking statements in this release are subject to risks such as gas prices, regulatory challenges, and unexpected changes in customer growth.

RGC Resources, Inc. (NASDAQ: RGCO) announced the election of four directors during its January 23, 2023 shareholder meeting, with Nancy Howell Agee, Jacqueline L. Archer, Robert B. Johnston, and J. Allen Layman securing three-year terms. Shareholders also ratified Brown Edwards & Company, L.L.P. as auditors for fiscal 2023. Following the meeting, the Board of Directors elected John B. Williamson, III as Chairman and Paul W. Nester as President and CEO. RGC Resources serves approximately 62,900 customers in Virginia through its subsidiaries, including Roanoke Gas Company.

The Board of Directors of RGC Resources (NASDAQ: RGCO) has declared a quarterly dividend of $0.1975 per share, with an annualized dividend amount of $0.79 reflecting a 1.3% increase. This marks the 19th consecutive year of annual dividend increases. The payout is scheduled for February 1, 2023, to shareholders of record on January 18, 2023. CEO Paul Nester emphasized the company’s commitment to long-term shareholder value through solid operational and financial performance.

RGC Resources, Inc. (NASDAQ: RGCO) will conduct a conference call on December 5, 2022, at 9:00 a.m. ET to discuss its fiscal fourth quarter and full-year results for 2022. Presentation materials will be available on the company's Investor & Financial Information page prior to the call. Interested participants can join by dialing toll-free 1-877-304-9269, using conference ID 917621. The company provides energy services through its subsidiaries Roanoke Gas Company and RGC Midstream, LLC.

RGC Resources, Inc. (NASDAQ: RGCO) reported a consolidated net loss of $31.7 million or $3.48 per share for the fiscal year ending September 30, 2022. This loss includes impairment charges of approximately $40.9 million from the Mountain Valley Pipeline investment. Excluding impairments, underlying net income was $9.2 million or $1.01 per share, down from $10.1 million or $1.22 per share in the previous year. Utility margins rose by $1.7 million or 4%, attributed to infrastructure programs and customer growth.

The Board of Directors of RGC Resources, Inc. (NASDAQ: RGCO) declared a quarterly dividend of $0.195 per share on September 26, 2022. This dividend, marking the 314th consecutive quarterly cash dividend, will be payable on November 1, 2022 to shareholders on record as of October 14, 2022. RGC Resources provides energy products and services in Virginia through subsidiaries like Roanoke Gas Company.

RGC Resources, Inc. (NASDAQ: RGCO) reported consolidated earnings of $592,527 ($0.06 per share) for Q2 2022, down from $610,840 ($0.07 per share) in Q2 2021. The decline is attributed to lower non-cash MVP AFUDC income despite stronger utility margins from infrastructure programs. For the twelve months ended June 30, 2022, the net loss was $20,316,892 ($2.32 per share), with underlying net income of $9,255,083 ($1.06 per share), down from $9,772,285 ($1.19 per share) in the previous year. Management highlights the seasonal nature of earnings impacting forecasts.