Rgc Resources Stock Price, News & Analysis

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.

RGC Resources, Inc. (NASDAQ: RGCO) will hold its fiscal Q3 conference call on August 11, 2022, at 9:00 a.m. ET. The call will discuss the company's quarterly results, with related materials accessible on its website prior to the call. RGC Resources delivers energy services in Virginia through its subsidiaries, including Roanoke Gas Company. The company may make forward-looking statements regarding financial performance and business prospects, with warnings about potential risks affecting actual results.

Roanoke Gas Company and the Western Virginia Water Authority have initiated a partnership to produce renewable natural gas (RNG) from biogas at the Roanoke Regional Water Pollution Control Plant. This innovative project, which requires a $16.5 million investment, will feature advanced technology for gas treatment, aiming to generate commercial-quality RNG. The system is designed to process 550,000 cubic feet of biogas daily, potentially heating 500 homes. The groundbreaking ceremony is scheduled for May 17, 2022, highlighting a significant advancement in energy recovery in wastewater treatment.

RGC Resources, Inc. (NASDAQ: RGCO) has announced a rescheduled quarterly conference call on May 11, 2022, at 9:00 a.m. Eastern Time, to discuss its fiscal second-quarter results. This rescheduling was due to technical difficulties with the original call. Interested individuals can join the call by dialing 1-866-705-2554, using the conference ID 917621. Presentation materials will be accessible prior to the call on the company's investor relations webpage. RGC provides energy services in Virginia through its subsidiaries, Roanoke Gas Company and RGC Midstream.

RGC Resources (NASDAQ: RGCO) reported a net loss of $24.5 million, or $2.89 per share, for Q2 2022, primarily due to a $29.6 million impairment charge from an investment in the Mountain Valley Pipeline. Excluding this charge, underlying net income was $5.1 million, or $0.60 per share, reflecting a 6.5% increase year-over-year. The company achieved a 5% increase in operating income, driven by improvements in utility margins, infrastructure investments, and customer growth. The twelve-month net loss was $20.3 million, impacting the prior year's underlying net income of $1.11 per share.

RGC Resources, Inc. (NASDAQ: RGCO) will conduct its quarterly conference call on May 9, 2022, at 9:00 a.m. ET to discuss fiscal Q2 results. Interested parties can access the call toll-free at 1-800-261-3225 using conference ID 7773810. Related materials will be posted on the Company’s Investor & Financial Information page prior to the call. RGC Resources offers energy products and services in Virginia through its subsidiaries Roanoke Gas Company and RGC Midstream, LLC. The company may issue forward-looking statements regarding anticipated financial performance and business prospects.

The Board of Directors of RGC Resources (NASDAQ: RGCO) declared a quarterly dividend of $0.195 per share, marking the 313th consecutive quarterly cash dividend. This dividend will be paid on August 1, 2022 to shareholders of record by July 15, 2022. RGC Resources, operating primarily in Virginia, provides energy and related services through its subsidiaries, including Roanoke Gas Company and RGC Midstream. The company has issued forward-looking statements, highlighting potential risks that may affect actual results compared to expectations.

RGC Resources, Inc. (NASDAQ: RGCO) announced the appointment of Robert Johnston to its Board of Directors as a Class B Director during a meeting on April 7, 2022. Johnston, who has extensive experience in public companies and utilities, currently serves as Chief Strategy Officer at The InterTech Group, Inc. His leadership is expected to benefit the company and its shareholders. RGC Resources provides energy services to approximately 62,600 customers in Virginia through its subsidiaries, including Roanoke Gas Company.