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Mar 31, 2023
RGC Resources Q2 2023 Earnings Report
Reported second quarter earnings with an increase compared to the prior year.
Key Takeaways
RGC Resources, Inc. announced consolidated Company earnings of $6,341,886, or $0.64 per share, for the quarter ended March 31, 2023, compared to a net loss of $24,494,429, or $2.89 per share, for the quarter ended March 31, 2022. Underlying earnings of $6,341,886 for the current fiscal quarter represents a 25% increase over the prior year second fiscal quarter underlying earnings of $5,077,546.
Consolidated Company earnings were $6,341,886, or $0.64 per share for the quarter ended March 31, 2023.
This compares to a net loss of $24,494,429, or $2.89 per share, for the quarter ended March 31, 2022.
Underlying earnings of $6,341,886 for the current fiscal quarter represents a 25% increase over the prior year second fiscal quarter underlying earnings of $5,077,546.
Improved utility margins associated with customer growth and implementation of the new non-gas rates contributed to strong underlying earnings growth.