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Sep 30, 2020
RGC Resources Q4 2020 Earnings Report
RGC Resources experienced a net loss for Q4 2020 due to accelerated recovery of regulatory assets and one-time maintenance investments.
Key Takeaways
RGC Resources reported a net loss for the quarter ending September 30, 2020. The company's full year earnings increased due to improved utility margins, new non-gas rates, customer growth, and investment in the Mountain Valley Pipeline.
RGC Resources reported a net loss of $329,296 for Q4 2020, compared to net income of $455,605 for Q4 2019.
Earnings per share (EPS) for Q4 2020 was a loss of $0.04, compared to earnings of $0.06 per share for Q4 2019.
Full year earnings increased due to improved utility margins, new non-gas rates, customer growth, and investment in the Mountain Valley Pipeline.
The company accelerated the recovery of certain regulatory assets and made one-time maintenance investments in the fourth quarter.