RGC Resources

RGC Resources, Inc. is a holding company, which engages in the distribution and sale of natural gas to residential, commercial, and industrial users in its service territory. The firm operates through the following segments: Gas Utility, Investment in Affiliates, and Parent and Other. The Gas Utility segment focuses on tariff rates and other regulatory mechanisms through which it provides for the sale and distribution of natural gas to customers. The Investment in Affiliates includes investment activities in MVP and Southgate projects. The Parent and Other segment consists of unregulated activities and corporate eliminations. The company was founded on July 31, 1998 and is headquartered in Roanoke, VA.

Earnings data Q2 2024

RGCO reports strong Q1 performance, addresses challenges and opportunities

RGCO's Q1 2023 earnings call highlighted strong performance, with a focus on safety, customer service, and natural gas demand. The company provided insights into financial results, the RNG project, and earnings per share guidance. Challenges related to interest expenses and low gas prices were addressed, while opportunities in natural gas demand and the RNG project were emphasized.

RGCO reports Q2 net income of $687,000 amid weather challenges

RGCO's Q2 performance reflects a decrease in delivered gas volumes but a net income of $687,000. The company's ability to add customers and improve collections showcases its financial management capabilities. Challenges include weather-related impacts on gas volumes, while opportunities lie in increased economic development due to gas supply certainty.

RGCO reports strong customer growth and regulatory milestones in Q3 2023

RGCO's Q3 2023 earnings call highlighted robust customer growth, regulatory achievements, and improved financial performance. While facing challenges in capital investments and operational progress, the company is well-positioned to leverage its strengths and pursue opportunities for growth in 2024.

RGCO reports 20% increase in Q4 operating income, eyes growth opportunities

RGCO's Q4 2023 earnings call highlighted strong financial performance, steady customer growth, and efficient cost management. Despite challenges related to decreased gas volumes and pending rate case, the company is well-positioned to capitalize on growth opportunities through capital spending and project progress.

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Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does RGC Resources Inc. (RGCO) have what it takes?

RGC Resources Inc. (RGCO) Could Be a Great Choice

Why RGC Resources Inc. (RGCO) is a Great Dividend Stock Right Now

RGC Resources, Inc. (RGCO) Q1 2024 Earnings Call Transcript

ROANOKE, Va., Feb. 06, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of RGC Resources, Inc. (NASDAQ: RGCO), at its meeting on February 5, 2024, declared a quarterly dividend of $0.20 per share on the Company's common stock. The dividend will be paid on May 1, 2024 to shareholders of record on April 16, 2024. This is the Company's 320th consecutive quarterly cash dividend. “We are pleased to recognize 80 years of consecutive quarterly dividend payments. It is a reflection of consistent, long-term financial performance and our continued commitment to deliver returns to our shareholders”, stated CEO Paul Nester.

RGC Resources, Inc. Declares 320th Consecutive Quarterly Dividend

ROANOKE, Va., Feb. 05, 2024 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (NASDAQ: RGCO) announced consolidated Company earnings of $5,019,992, or $0.50 per share, for the first quarter ended December 31, 2023, compared to $3,256,405, or $0.33 per share, for the fiscal quarter ended December 31, 2022. The increase over the quarter a year ago included nearly $1.5 million in earnings from the Company's investment in the Mountain Valley Pipeline, LLC (“MVP”) as well as improved utility margins.

RGC Resources, Inc. Reports First Quarter Earnings

ROANOKE, Va., Jan. 29, 2024 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (NASDAQ: RGCO) announced the election of Directors at its shareholders meeting held on January 29, 2024. Shareholders elected T. Joe Crawford, Maryellen F. Goodlatte, and Paul W. Nester for three-year terms.

RGC Resources Holds Annual Shareholders Meeting

ROANOKE, Va., Jan. 26, 2024 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (NASDAQ: RGCO) will host its quarterly conference call and webcast to review the results of its fiscal first quarter 2024 on Wednesday, February 7, 2024 at 9:00 a.m. eastern time. Related presentation materials will be available before the call on the Company website on the Investor & Financial Information page at https://www.rgcresources.com/investor-financial-information/.

RGC Resources, Inc. Schedules First Quarter 2024 Earnings Call

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RGCO, MOD, SAIC, BRSP and NINE have been added to the Zacks Rank #1 (Strong Buy) List on December 8, 2023.

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RGC Resources Inc. (RGCO) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

RGC Resources Inc. (RGCO) Upgraded to Strong Buy: What Does It Mean for the Stock?

RGC Resources, Inc. (NASDAQ:RGCO ) Q4 2023 Earnings Conference Call December 4, 2023 9:00 AM ET Company Participants Tommy Oliver - Senior Vice President of Regulatory and External Affairs Tim Mulvaney - Interim Chief Financial Officer and Treasurer Paul Nester - President and Chief Executive Officer Conference Call Participants Michael Gaugler - Janney Montgomery Scott Tommy Oliver Good morning. I am Tommy Oliver, Senior Vice President, Regulatory and External Affairs for RGC Resources, Inc. Thank you for joining us this morning as we discuss RGC Resources 2023 Quarter -- Fourth Quarter and Full-Year Results.

RGC Resources, Inc. (RGCO) Q4 2023 Earnings Call Transcript

ROANOKE, Va., Nov. 28, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of RGC Resources, Inc. (NASDAQ: RGCO), at its meeting on November 27, 2023, declared a quarterly dividend of $0.20 per share on the Company's common stock. The indicated annual dividend is $0.80 per share, a $0.01 or 1.3% per share increase over the prior annual level. The Company has now increased the annual dividend 20 consecutive years. Paul Nester, CEO of RGC Resources, Inc., stated, “The Roanoke Gas utility continues to deliver solid operational and financial performance. Further, we look forward to seeing the MVP completed in 2024. This dividend increase, our 20th annual increase, reflects our commitment to deliver long-term shareholder value.” The dividend will be paid on February 1, 2024 to shareholders of record on January 17, 2024. This is the Company's 319th consecutive quarterly cash dividend.

RGC Resources, Inc. Raises Annual Dividend to $0.80 per Share

ROANOKE, Va., Nov. 22, 2023 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (NASDAQ: RGCO) will host its quarterly conference call and webcast to review the results of its fiscal fourth quarter and 2023 fiscal year on Monday, December 4, 2023 at 9:00 a.m. eastern time. Related presentation materials will be available before the call on the Company website on the Investor & Financial Information page at https://www.rgcresources.com/investor-financial-information/ .

RGC Resources, Inc. Schedules Fourth Quarter 2023 Earnings Call

ROANOKE, Va., Nov. 20, 2023 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (NASDAQ: RGCO) announced consolidated Company earnings of $11,299,282, or $1.14 per share, for the fiscal year ended September 30, 2023, compared to a net loss of $31,732,602, or $3.48 per share, for the fiscal year ended September 30, 2022. The 2022 net loss reflected total after-tax impairment charges of approximately $40.9 million related to RGC Midstream, LLC's (“Midstream”) investment in the Mountain Valley Pipeline, LLC (“MVP”). Underlying net income in 2022, a non-GAAP measure that excludes the impairment, was $9,178,942, or $1.01 per share, compared to the $11,299,282, or $1.14 per share, for fiscal 2023.

RGC Resources, Inc. Reports 2023 Earnings

RGC Resources, Inc. is a small regulated natural gas utility serving Roanoke, Virginia, with a 4.65% yield. The company's stock price has fallen by 30.23% since March, possibly due to being underfollowed by market participants. RGC Resources has a stable customer base and has shown resistance to economic fluctuations, making it a reliable investment option.

RGC Resources: Disappointing Market Performance But Thesis Is Intact

ROANOKE, Va., Sept. 27, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of RGC Resources, Inc. (NASDAQ: RGCO), at its meeting on September 25, 2023, declared a quarterly dividend of $0.1975 per share on the Company's common stock. The dividend will be paid on November 1, 2023 to shareholders of record on October 16, 2023. This is the Company's 318th consecutive quarterly cash dividend.

RGC Resources, Inc. Declares Quarterly Dividend

RGC Resources, Inc. (NASDAQ:RGCO ) Q3 2023 Earnings Conference Call August 7, 2023 9:00 AM ET Company Participants Tommy Oliver - Senior Vice President of Regulatory and External Affairs Paul Nester - President and Chief Executive Officer Kelsie Davenport - Director of Finance Conference Call Participants Mike Gaugler - Janney Montgomery Scott Tommy Oliver Good morning. Thank you for joining us as we discuss RGC Resources' 2023 Third Quarter Results.

RGC Resources, Inc. (RGCO) Q3 2023 Earnings Call Transcript

ROANOKE, Va., Aug. 03, 2023 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (NASDAQ: RGCO) announced consolidated Company 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. CEO Paul Nester stated, “We experienced earnings growth driven primarily by improved utility margins and the investment in Mountain Valley Pipeline (MVP), net of higher interest expense.” Nester further commented, “We are pleased that the U.S. Supreme Court acted quickly, allowing the MVP project to resume forward construction and hopefully enabling a much needed, new supply of natural gas to the Roanoke region by this winter.”

RGC Resources, Inc. Reports Third Quarter Earnings

ROANOKE, Va., July 21, 2023 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (NASDAQ: RGCO) will host its quarterly conference call and webcast to review the results of its fiscal third quarter 2023 on Monday, August 7, 2023 at 9:00 a.m. eastern time. Related presentation materials will be available before the call on the Company website on the Investor & Financial Information page at https://www.rgcresources.com/investor-financial-information/ .

RGC Resources, Inc. Schedules Third Quarter 2023 Earnings Call

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The heavy selling pressure might have exhausted for RGC Resources Inc. (RGCO) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.

Down -22.4% in 4 Weeks, Here's Why You Should You Buy the Dip in RGC Resources Inc. (RGCO)

RGC Resources, Inc. (NASDAQ:RGCO ) Q2 2023 Earnings Conference Call May 8, 2023 9:00 AM ET Company Participants Tommy Oliver - SVP, Regulatory and External Affairs Paul Nester - President, CEO & Director Jason Field - VP, CFO & Treasurer Conference Call Participants Michael Gaugler - Janney Montgomery Scott Tommy Oliver Good morning, everybody. I'm Tommy Oliver, Senior Vice President of Regulatory and External Affairs for RGC Resources, Inc. I want to thank you for joining us as we discuss RGC Resources 2023 Second Quarter Results.

RGC Resources, Inc. (RGCO) Q2 2023 Earnings Call Transcript

RGC Resources Inc. (RGCO) came out with quarterly earnings of $0.64 per share, beating the Zacks Consensus Estimate of $0.58 per share. This compares to earnings of $0.60 per share a year ago.

RGC Resources Inc. (RGCO) Q2 Earnings and Revenues Beat Estimates

ROANOKE, Va., May 05, 2023 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (NASDAQ: RGCO) announced consolidated Company earnings of $6,341,886, or $0.64 per share, for the quarter ended March 31, 2023, compared to a net loss of $24,494,429, or $2.89 per share, for the quarter ended March 31, 2022. Underlying earnings of $6,341,886, a non-GAAP measure that excludes the after-tax impairments recorded in fiscal 2022, for the current fiscal quarter represents a 25% increase over the prior year second fiscal quarter underlying earnings of $5,077,546. CEO Paul Nester stated, “We experienced strong underlying earnings growth from improved utility margins associated with customer growth and implementation of the new non-gas rates.”

News for RGC Resources Stock (RGCO)