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.

Total Revenue

$38M

Previous year: $29.5M

Previous year: $10.4M

+267.1%