RGC Resources Q3 2023 Earnings Report

Reported earnings growth driven by improved utility margins and the investment in Mountain Valley Pipeline (MVP), net of higher interest expense.

Key Takeaways

RGC Resources, Inc. reported consolidated earnings of $686,816, or $0.07 per share, for the quarter ended June 30, 2023, compared to earnings of $592,527, or $0.06 per share, for the quarter ended June 30, 2022. The earnings growth was primarily driven by improved utility margins and the investment in Mountain Valley Pipeline (MVP), net of higher interest expense.

Consolidated Company earnings were $686,816, or $0.07 per share, for the quarter ended June 30, 2023.

Earnings increased compared to $592,527, or $0.06 per share, for the quarter ended June 30, 2022.

Earnings growth was primarily driven by improved utility margins and the investment in Mountain Valley Pipeline (MVP), net of higher interest expense.

The U.S. Supreme Court allowed the MVP project to resume forward construction.

Total Revenue

$13.7M

Previous year: $17.3M

Previous year: $4.44M