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Dec 31, 2019
RGC Resources Q1 2020 Earnings Report
RGC Resources reported earnings growth driven by improved utility margins and investment in Mountain Valley Pipeline.
Key Takeaways
RGC Resources, Inc. reported consolidated earnings of $4,006,936, or $0.49 per diluted share, for the quarter ended December 31, 2019, compared to $2,434,162, or $0.30 per diluted share, for the quarter ended December 31, 2018. The increase was attributed to improved utility margins, infrastructure replacement programs, customer growth, and the investment in Mountain Valley Pipeline.
Consolidated earnings increased to $4,006,936 for the quarter ended December 31, 2019.
Diluted earnings per share rose to $0.49 for the quarter.
Improved utility margins contributed to earnings growth.
Investment in Mountain Valley Pipeline positively impacted earnings.