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Dec 31, 2022
RGC Resources Q1 2023 Earnings Report
Reported consolidated earnings for the quarter ended December 31, 2022.
Key Takeaways
RGC Resources, Inc. reported consolidated earnings of $3,256,405, or $0.33 per share, for the quarter ended December 31, 2022. The decline in earnings was primarily due to increased operational costs from inflation and higher interest rates.
Consolidated earnings were $3,256,405, or $0.33 per share.
This is compared to $3,584,529, or $0.43 per share, for the quarter ended December 31, 2021.
The Roanoke Gas utility experienced strong customer demand and improved utility margins.
The overall earnings decline was primarily attributable to increased operational costs resulting from the inflationary environment and interest expense attributable to higher interest rates on floating rate debt.
RGC Resources
RGC Resources
Forward Guidance
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.