ROANOKE, Va., April 24, 2025 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (NASDAQ:RGCO) will host its quarterly conference call and webcast to review the results of its fiscal second quarter 2025 on Thursday, May 8, 2025 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/. Interested parties may access the conference call by dialing toll-free ...

RGC Resources, Inc. (NASDAQ:RGCO) Q1 2025 Earnings Conference Call February 11, 2025 9:00 AM ET Company Participants Tommy Oliver - Senior Vice President, Regulatory and External Affairs Tim Mulvaney - VP, Treasurer and Chief Financial Officer Paul Nester - President and Chief Executive Officer Conference Call Participants Tommy Oliver Good morning, and thank you for joining us as we discuss RGC Resources' 2025 First Quarter Results. I am Tommy Oliver, Senior Vice President, Regulatory and External Affairs ...

RGC Resources Inc. (RGCO) came out with quarterly earnings of $0.51 per share, beating the Zacks Consensus Estimate of $0.50 per share. This compares to earnings of $0.50 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2%. A quarter ago, it was expected that this company would post a loss of $0.01 per share when it actually produced earnings of $0.01, delivering a surprise of 200%.Over the last four quarters, the company has s ...

Exhibit 99.1 NEWS RELEASE Release Date: February 10, 2025 Contact: Timothy J. Mulvaney Vice President, Treasurer and CFO Telephone: (540) 777-3997 RGC RESOURCES, INC. REPORTS FIRST QUARTER EARNINGS ROANOKE, Va. (February 10, 2025)--RGC Resources, Inc. (Nasdaq: RGCO) announced consolidated Company earnings of $5,269,689, or $0.51 per share, for the first quarter ended December 31, 2024, compared to $5,019,992, or $0.50 per share, for the fiscal quarter ended December 31, 2023. Higher utility margin reflected ...

ROANOKE, Va., Feb. 10, 2025 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (NASDAQ:RGCO) announced consolidated Company earnings of $5,269,689, or $0.51 per share, for the first quarter ended December 31, 2024, compared to $5,019,992, or $0.50 per share, for the fiscal quarter ended December 31, 2023. Higher utility margin reflected the new base rates that went into effect July 1, 2024 and was offset by lower equity earnings from unconsolidated affiliate and higher interest expense. Roanoke Gas continued investing ...

Table of Contents OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For Transition Period From to Commission File Number 000-26591 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For Quarterly Period Ended December 31, 2024 RGC Resources, Inc. (Exact name of Registrant as Specified in its Charter) Virginia 54-1909697 (State or Othe ...

ROANOKE, Va., Jan. 28, 2025 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (NASDAQ: RGCO) will host its quarterly conference call and webcast to review the results of its fiscal first quarter 2025 on Tuesday, February 11, 2025 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/. Interested parties may access the conference call by dialing toll-f ...

ROANOKE, Va., Jan. 27, 2025 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (NASDAQ: RGCO) announced the election of Directors at its shareholders meeting held on January 27, 2025. Shareholders elected Abney S. Boxley III, Elizabeth A. McClanahan and John B. Williamson III for three-year terms. Shareholders also ratified the appointment of Deloitte & Touche, LLP as auditors for fiscal 2025. At a meeting of the Board of Directors, following the annual shareholders meeting, John B. Williamson III was elected Chairm ...

Financial Data and Key Metrics Changes - In Q4 2024, net income was $141,000 or $0.01 per share, down from $1 million or $0.10 per share in Q4 2023, reflecting lower earnings from the investment in MVP and higher interest costs [13][14] - For the full fiscal year 2024, net income grew by $462,000 to $11.8 million or $1.16 per share, compared to $11.3 million or $1.14 per share in fiscal 2023 [15] Business Line Data and Key Metrics Changes - Capital spending for fiscal 2024 totaled $22.1 million, down from $25.3 million in the previous fiscal year, primarily due to reduced spending on the RNG facility [11][12] - Delivered gas volumes in Q4 2024 were 5% lower compared to Q4 2023, attributed to warm weather and lower commercial volumes [9] Market Data and Key Metrics Changes - The company expects to receive final approval for a rate case settlement that allows for an increase of $4.08 million in annual revenue, reflecting a return on equity (ROE) of 9.9% [6] Company Strategy and Development Direction - The company is focused on growth opportunities in Franklin County, leveraging the operational capacity of the Mountain Valley pipeline, which can transport up to 2 billion dekatherms a day [18][22] - A capital spending plan of $21.6 million for fiscal 2025 is in place, with investments aimed at expanding the distribution system and supporting new customer connections [24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth potential in the Roanoke Valley and Franklin County, citing strong housing growth and ongoing medical complex expansions [20][35] - The company is addressing inflationary pressures and interest rate fluctuations, with a cautious outlook on expenses [26][30] Other Important Information - The board approved an annual dividend increase of just under 4% to $0.83, aligning with the company's operational success [33] - The company anticipates modest contributions from RGC midstream in 2025, estimating cash flow of approximately $3.2 million from the joint venture [30][32] Q&A Session Summary Question: What are the current flows for MVP given the cold weather? - Management indicated that the pipeline is mostly full, with flows between 1.5 Bcf to 2 Bcf a day [40] Question: Are there any changes regarding the expansion post-election? - Management noted that energy policy may become more favorable under the new administration, potentially accelerating expansion processes [42][44] Question: Will cash from MVP be reinvested in expansions? - Management confirmed that while covering interest costs is a priority, there are opportunities for reinvestment in expansions [45][47] Question: What is the rate base number for the Roanoke rate order? - The rate base was around $200 million, with total estimates between $210 million to $220 million [55][56] Question: What are the equity needs going forward? - Management stated that they feel well-capitalized in the regulated utility and do not anticipate a large equity infusion for 2025 [75]

Revenue and Rate Changes - Roanoke Gas implemented interim non-gas base rates effective January 1, 2023, aimed at generating an additional $8.55 million in annual revenues due to higher operating costs[96]. - The SCC approved a final non-gas base rate increase of $7.45 million on December 19, 2023, with a refund of excess revenues collected during interim rates to be issued in February 2024[96]. - The SAVE Plan revenues decreased to approximately $461,000 in fiscal 2024 from approximately $1,104,000 in fiscal 2023, reflecting the reset of the SAVE Plan and Rider effective January 1, 2023[100]. - The WNA mechanism generated approximately $3,761,000 in additional revenues for fiscal 2024 due to weather being approximately 20% warmer than normal[102]. - Gas utility revenues decreased by $12,792,206, or 13%, to $84,533,101 for the year ended September 30, 2024, compared to $97,325,307 in 2023[117]. Operating Performance - Total operating revenues for the year ended September 30, 2024, decreased by 13% to $84,641,232, primarily due to lower natural gas commodity prices and reduced deliveries[114]. - Natural gas commodity prices for fiscal 2024 purchases declined by 43% per DTH compared to the prior year, contributing to a 29% decrease in total gas costs[116]. - The operation of the RNG facility resulted in total RNG revenue increasing from approximately $712,000 in fiscal 2023 to $1,629,000 in fiscal 2024[104]. - ICC revenues decreased from approximately $967,000 in fiscal 2023 to $728,000 in fiscal 2024, attributed to lower natural gas commodity prices[103]. - The total delivered volumes of regulated natural gas decreased by 1% to 10,048,770 DTH for the year ended September 30, 2024[114]. Financial Metrics - Net income increased by $461,614 from the prior year, driven by AFUDC and earnings from the MVP, despite inflationary pressures on operating expenses[110]. - Gross utility margin increased by $2,982,525, or 7%, reaching $48,565,114 in fiscal 2024, primarily due to new non-gas base rates and increased RNG Rider contributions[117]. - Basic and diluted earnings per share increased to $1.16 in fiscal 2024 from $1.14 in fiscal 2023, while dividends declared per share rose to $0.80 from $0.79[132]. Expenses and Cash Flow - Operations and maintenance expenses increased by $2,450,764, or 15%, primarily due to inflationary effects on personnel costs and increased professional services[122]. - Total interest expense rose by $886,080, or 16%, driven by higher interest rates on variable rate debt, with the average interest rate increasing from 3.83% to 4.27%[128]. - Cash and cash equivalents decreased by approximately $618,000 in fiscal 2024, compared to a decrease of $3.4 million in fiscal 2023[135]. - Operating cash flows decreased by $6.4 million, from $23.8 million in 2023 to $17.4 million in 2024[137]. - The average price of gas in storage decreased from over $6.00 per DTH in 2023 to approximately $4.00 per DTH in 2024, impacting cash flow levels[137]. Capital Expenditures and Financing - Capital expenditures were approximately $22.1 million in 2024, down from $25.3 million in 2023, primarily due to reduced investment in the RNG project[138]. - Financing activities provided approximately $4.0 million in 2024, an increase of $3.8 million from $200,000 in 2023, driven by net borrowings of $6.8 million[143]. - The company's consolidated capitalization was 44.1% equity and 55.9% long-term debt as of September 30, 2024[143]. - The company expects capital expenditures to remain around $22 million annually over the next few years[140]. Investments and Earnings - The equity in earnings of the MVP investment increased by $1,766,881 due to ongoing construction activities, with operational earnings now being recognized[126]. - The first cash distribution from the MVP was approximately $800,000 in October 2024, with similar distributions expected quarterly[146]. - The company recorded equity in earnings of consolidated affiliates of $3.9 million in 2024, up from $2.1 million in 2023[152]. Pension and Postretirement Plans - The pension plan's funded status improved to 104% as of September 30, 2024, up from 100% in 2023, with a fair value of assets at $31,054,138 and a benefit obligation of $29,873,428[165]. - The postretirement plan's funded status increased to 139% as of September 30, 2024, compared to 116% in 2023, with a fair value of assets at $15,078,281 and a benefit obligation of $10,842,455[165]. - The long-term rate of return assumptions for the pension plan increased from 4.50% in fiscal 2024 to 4.95% for fiscal 2025, while the postretirement plan's rate rose from 4.21% to 4.95%[166]. - The company does not expect to make contributions to its pension and postretirement plans in fiscal 2025 due to their funded positions[167]. - The pension plan's sensitivity analysis indicates a $106,000 increase in pension costs with a 0.25% decrease in the discount rate[169]. Asset Allocation and Risk Management - The company transitioned the pension plan's asset allocation from 60% equity and 40% fixed income to 25% equity and 75% fixed income since January 2017[162]. - The postretirement plan's asset allocation was revised from 50% equity and 50% fixed income to 30% equity and 70% fixed income[163]. - A 25 basis point decrease in the yield curve would result in a $228,248 decrease in the fair value of the company's interest rate swaps[170]. - The company will continue to evaluate its benefit plan funding levels and make adjustments as necessary to avoid benefit restrictions[167].