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Mar 31, 2024
RGC Resources Q2 2024 Earnings Report
RGC Resources reported earnings for the second quarter of 2024.
Key Takeaways
RGC Resources, Inc. reported consolidated earnings of $6,443,390, or $0.63 per share, for the second quarter ended March 31, 2024. This compares to $6,341,886, or $0.64 per share, for the fiscal quarter ended March 31, 2023.
Earnings increased over the quarter a year ago, including $1.2 million in earnings from the Company’s investment in the Mountain Valley Pipeline, LLC (“MVP”).
Improved utility margins were largely offset by inflationary cost increases.
Roanoke Gas filed for relief through a rate application with the State Corporation Commission with rates to go into effect July 1, 2024, subject to refund.
The MVP has filed for a final permit from FERC to allow gas to flow in the next 30 days.
Revenue by Geographic Location
Forward Guidance
Forward-looking statements involve risks and uncertainties, including gas prices and supply, geopolitical considerations, expectations regarding the MVP construction and operation, and regulatory and legal challenges.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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