Welcome to our dedicated page for Rgc Resources news (Ticker: RGCO), a resource for investors and traders seeking the latest updates and insights on Rgc Resources stock.
RGC Resources, Inc. (NASDAQ: RGCO) is a Virginia-based utilities company that provides energy and related products and services to customers in the Roanoke region through Roanoke Gas Company and RGC Midstream, LLC. The RGCO news feed highlights how this natural gas-focused utility and its midstream affiliate report on operating performance, infrastructure investment and participation in Mountain Valley Pipeline (MVP) and related projects.
News coverage for RGC Resources frequently includes quarterly and annual earnings releases, where the company discusses consolidated earnings, gas deliveries, utility margins and equity in earnings from its investment in Mountain Valley Pipeline, LLC. These releases often describe the impact of weather, base rate changes, gas volumes and financing costs on results, as well as the role of MVP, MVP Southgate and MVP expansion in the company’s financial performance.
Investors following RGCO news will also see dividend announcements, as the company regularly declares quarterly cash dividends and notes its long record of consecutive payments and many years of annual dividend increases. Management statements in these releases link dividend decisions to earnings, operational performance and the company’s strategy to invest in Roanoke Gas utility infrastructure and MVP-related expansion projects.
RGC Resources’ news flow further includes earnings call and webcast notices, which provide details on scheduled conference calls to review quarterly results and reference presentation materials made available to the financial community. Additional items may cover financing and credit agreements entered into by RGC Midstream, LLC, such as credit facilities, loan agreements and interest rate swaps tied to MVP and related projects, as disclosed in current reports and associated press materials.
By reviewing the RGCO news page, readers can track how this natural gas utility and midstream investor communicates about its operations in Virginia, its participation in Mountain Valley Pipeline and its approach to dividends, capital structure and regulatory matters over time.
The Board of Directors of RGC Resources, Inc. (NASDAQ: RGCO) declared a quarterly dividend of $0.1975 per share on April 24, 2023, marking the company’s 317th consecutive cash dividend. This dividend will be paid on August 1, 2023 to shareholders of record on July 17, 2023. RGC Resources provides energy and related products to approximately 63,500 customers in Virginia through its subsidiaries, including Roanoke Gas Company and RGC Midstream. The company also issued a warning that forward-looking statements regarding growth and margins are subject to various risks such as gas prices, geopolitical factors, and regulatory challenges, which may impact future performance. Past results should not be considered indicators of future outcomes.
RGC Resources, Inc. (NASDAQ: RGCO) reported consolidated earnings of $3,256,405, or $0.33 per share, for the quarter ending December 31, 2022, down from $3,584,529, or $0.43 per share, in the same period of 2021. The decline is attributed to increased operational costs from inflation and higher interest expenses. For the twelve months ending December 31, 2022, the net loss was $32,060,726, or $3.38 per share. Underlying net income, excluding impairment charges, was $8,850,818, or $0.93 per share, a slight decrease from $8,963,328, or $1.08 per share, in the previous year. CEO Paul Nester noted strong customer demand but acknowledged inflationary pressures.
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.
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