Loading...
•
Jun 30, 2020
RGC Resources Q3 2020 Earnings Report
RGC Resources reported earnings growth driven by improved utility margins and investment in the Mountain Valley Pipeline.
Key Takeaways
RGC Resources, Inc. announced consolidated Company earnings of $1,206,578, or $0.15 per diluted share, for the quarter ended June 30, 2020, compared to $1,138,555, or $0.14 per diluted share, for the quarter ended June 30, 2019.
Consolidated earnings increased to $1,206,578 for the quarter ended June 30, 2020.
Earnings per diluted share rose to $0.15 for the quarter ended June 30, 2020.
Improved utility margins contributed to earnings growth.
Investment in the Mountain Valley Pipeline (MVP) positively impacted earnings.
RGC Resources
RGC Resources
Forward Guidance
Net income for the three months ended June 30, 2020 is not indicative of the results to be expected for the fiscal year ending September 30, 2020 as quarterly earnings are affected by the highly seasonal nature of the business and weather conditions generally result in greater earnings during the winter months. Additionally, the COVID-19 pandemic creates significant economic uncertainty for the remainder of fiscal 2020.
Challenges Ahead
- Quarterly earnings are affected by the highly seasonal nature of the business.
- Weather conditions generally result in greater earnings during the winter months.
- The COVID-19 pandemic creates significant economic uncertainty for the remainder of fiscal 2020.