RGC Resources, Inc. Reports Third Quarter Earnings
ROANOKE, Va., Aug. 11, 2025 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (NASDAQ:RGCO) announced consolidated earnings of $538,412, or $0.05 per share, for the third quarter ended June 30, 2025, compared to $156,692, or $0.02 per share, for the fiscal quarter ended June 30, 2024. The increase during the quarter was largely the result of higher earnings from the Company's investment in the Mountain Valley Pipeline, LLC ("MVP").
CEO Paul Nester stated, "We continue to honor our mission of creating value for shareholders and our community by providing safe and reliable energy to the Roanoke region. MVP has been a successful and meaningful part of delivering value and energy for a full year. Roanoke Gas continues to produce strong financial results resulting from prudent system investment and exemplary operational performance."
Through the first nine months of fiscal 2025, the Company's net income of $13,484,309, or $1.31 per share, was up 16% from $11,620,074, or $1.15 per share, in the first nine months of the prior year, primarily due to higher operating margins along with enhanced earnings from the Company's investment in the MVP.
RGC Resources, Inc. provides energy and related products and services to customers in Virginia through its operating subsidiaries Roanoke Gas Company and RGC Midstream, LLC.
The statements in this release that are not historical facts constitute "forward-looking statements" made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause the Company's actual results and experience to differ materially from any expectations expressed in the Company's forward-looking statements, regarding inflation, customer growth, infrastructure investment and margins. These risks and uncertainties include gas prices and supply, geopolitical considerations, expectations regarding inflation and interest rate along with risks included under Item 1-A in the Company's fiscal 2024 Form 10-K. Forward-looking statements reflect the Company's current expectations only as of the date they are made. The Company assumes no duty to update these statements should expectations change or actual results differ from current expectations except as required by applicable laws and regulations.
Past performance is not necessarily a predictor of future results.
Summary financial statements for the third quarter and fiscal year to date are as follows:
RGC Resources, Inc. and Subsidiaries
Condensed Consolidated Statements of Income
(Unaudited)
Three Months Ended
Nine Months Ended
June 30,
June 30,
2025
2024
2025
2024
Operating revenues
$
17,264,615
$
14,458,202
$
81,016,198
$
71,536,930
Operating expenses
16,068,055
12,900,609
62,091,675
54,697,591
Operating income
1,196,560
1,557,593
18,924,523
16,839,339
Equity in earnings of unconsolidated affiliate
772,082
282,604
2,427,470
2,979,823
Other income (expense), net
244,000
(69,349
)
1,180,969
140,924
Interest expense
1,512,754
