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Mar 31, 2021
RGC Resources Q2 2021 Earnings Report
RGC Resources reported earnings of $0.58 per share for the second quarter ended March 31, 2021.
Key Takeaways
RGC Resources announced consolidated earnings of $4,767,478, or $0.58 per share, for the quarter ended March 31, 2021. This compares to earnings of $5,680,316, or $0.70 per share, for the quarter ended March 31, 2020. The decline in earnings was primarily attributable to the cessation of the non-cash MVP AFUDC beginning January 1, 2021.
Consolidated earnings for the quarter ended March 31, 2021 were $4,767,478, or $0.58 per share.
Earnings for the quarter ended March 31, 2020 were $5,680,316, or $0.70 per share.
The earnings decline was primarily attributable to the cessation of the non-cash MVP AFUDC beginning January 1, 2021.
Customer growth and improved utility margins associated with infrastructure replacement programs were experienced.
RGC Resources
RGC Resources
Forward Guidance
Net income for the remainder of fiscal 2021 is expected to be lower than the corresponding period in 2020.