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Sep 30, 2022
RGC Resources Q4 2022 Earnings Report
RGC Resources reported a net loss for Q4 2022, which included an after-tax, non-cash MVP impairment charge.
Key Takeaways
RGC Resources reported a net loss of $11.4 million, or $1.16 per share, for the quarter ended September 30, 2022. This includes an after-tax, non-cash MVP impairment charge of approximately $11.3 million. Underlying net loss for the fourth quarter, excluding this impairment, was $75,660 or $0.01 per share.
RGC Resources reported a net loss for the quarter ended September 30, 2022.
The net loss includes an after-tax, non-cash MVP impairment charge.
Underlying net loss for the fourth quarter, excluding the impairment, decreased compared to the fourth quarter of 2021.
Q4 2022 results reflect increased returns from the SAVE infrastructure replacement program and higher industrial volumes.
RGC Resources
RGC Resources
Forward Guidance
The statements in this release that are not historical facts constitute “forward-looking statements” made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties.
Positive Outlook
- Customer growth
- Infrastructure investment
- Increased margins
Challenges Ahead
- Gas prices and supply
- Geopolitical considerations
- Regulatory and legal challenges