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RGC Resources(RGCO) - 2020 Q2 - Quarterly Report
2020-05-07 13:11
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For Quarterly Period Ended March 31, 2020 Commission File Number 000-26591 RGC Resources, Inc. (Exact name of Registrant as Specified in its Charter) (State or Other Jurisdiction of Incorporation or Organization) 519 Kimball Ave., N.E., Roanoke, VA 24016 (Address of Principal Executive Offices) (Zip Code) Indicate by check mark whether the ...
RGC Resources (RGCO) Investor Presentation - Slideshow
2020-02-07 18:25
2020 Annual Meeting February 3, 2020 Forward-Looking Statements The statements in this presentation by RGC Resources, Inc. (the "company") that are not historical facts constitute "forwardlooking statements" made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements include the company's expectations regarding earnings per share, EBITDA, future expansion opportunities, natural gas reserves and potential discoverab ...
RGC Resources(RGCO) - 2020 Q1 - Earnings Call Transcript
2020-02-07 15:17
Financial Data and Key Metrics Changes - The company reported a 63% increase in diluted EPS compared to Q1 2019 [8] - Operating income increased by approximately $1.8 million, with gas utility margin rising by 25% or about $2.3 million year-over-year [12][15] - Net income for the calendar year ended December 31, 2019, increased by $2.6 million, or 34%, compared to the previous year [16] Business Line Data and Key Metrics Changes - The customer base for Roanoke Gas grew by 2% since 2016, adding 184 customers in Q1 2020 [5] - Total gas volumes sold remained consistent quarter-over-quarter, despite Q1 2020 being approximately 8% warmer than Q1 2019 [6] Market Data and Key Metrics Changes - The company plans to invest approximately $22 million in the regulated utility for fiscal 2020, focusing on infrastructure replacement and customer growth [20] - The Mountain Valley Pipeline is approximately 90% complete, with an anticipated investment of $17 million in fiscal 2020 [21] Company Strategy and Development Direction - The company received a final order from the Virginia Commission approving a $7.25 million annual increase in total base rate revenue requirement [18] - The authorized return on equity was set at 9.44%, exceeding recent Virginia rate case proceedings [18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for fiscal 2020, highlighting the strong first quarter performance and the impact of the rate increase [8][23] - The company anticipates earnings guidance for fiscal 2020 in the range of $1.18 to $1.28 per share [23] Other Important Information - The company approved an amendment to increase the number of authorized shares of common stock [22] - An S-3 filing was made with the SEC to extend the equity shelf registration statement, pending approval [23] Q&A Session Summary - No questions were raised during the Q&A session, and the call concluded with a positive outlook for the upcoming fiscal year [25]
RGC Resources(RGCO) - 2020 Q1 - Quarterly Report
2020-02-05 19:52
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For Quarterly Period Ended December 31, 2019 Commission File Number 000-26591 519 Kimball Ave., N.E., Roanoke, VA 24016 (Address of Principal Executive Offices) (Zip Code) VIRGINIA 54-1909697 (I.R.S. Employer Identification No.) (540) 777-4427 (Registrant's Telephone Number, Including Area Code) None (Former Name, Former Address and Former ...
RGC Resources(RGCO) - 2019 Q4 - Earnings Call Transcript
2019-12-06 15:33
RGC Resources, Inc. (NASDAQ:RGCO) Q4 2019 Earnings Conference Call December 6, 2019 9:00 AM ET Company Participants Paul Nester - VP, Treasurer, Secretary & CFO John D'Orazio - CEO, President & Director Conference Call Participants Michael Gaugler - Janney Montgomery Scott John D'Orazio Well, good morning. I'm John D'Orazio, President and CEO of RGC Resources, Inc. Welcome, and thank you for joining us as we discuss RGC Resources Fourth Quarter 2019 Results. First, I would like to go over a few administrati ...
RGC Resources(RGCO) - 2019 Q4 - Annual Report
2019-12-03 19:10
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2019 Commission file number 000-26591 RGC RESOURCES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 519 Kimball Avenue, N.E., Roanoke, VA 24016 (Address of principal executive offices) (Zip Code) Virginia 54-1909697 (I.R.S. Emplo ...
RGC Resources(RGCO) - 2019 Q3 - Earnings Call Transcript
2019-08-09 20:10
Financial Data and Key Metrics Changes - Third quarter 2019 earnings per share were $0.14, matching the results from the third quarter of 2018 [3] - Operating income for the third quarter was approximately $1.6 million, with a 5% increase in year-to-date operating income to approximately $11.1 million [8][10] - Net income increased over $1.6 million or 25% compared to the first nine months of the prior year [11] Business Line Data and Key Metrics Changes - Capital expenditures in the third quarter were $5.6 million, a 20% decrease from the same period last year, with $2.8 million on infrastructure replacement, $1.3 million on customer growth, and $1.5 million on capital needs [4] - Year-to-date customer additions reached 516, representing a 5.5% increase over 2018 [5] - Equity earnings in the Mountain Valley pipeline investment increased over $770,000, a rise of $532,000 compared to the same quarter last year [9] Market Data and Key Metrics Changes - Total volumes for the third quarter decreased due to 42% warmer weather compared to the same period in 2018, with commercial volumes slightly down and industrial volumes remaining flat [6] - Year-to-date volumes remained flat compared to the prior year, with only a 1% decrease [6] Company Strategy and Development Direction - The company plans to invest approximately $46 million in fiscal 2019, with $22 million focused on regulated utility infrastructure replacement and customer growth, and $24 million in the Mountain Valley pipeline [13] - The Mountain Valley pipeline is approximately 89% complete, with expectations to go into service in the summer of 2020 [15] Management's Comments on Operating Environment and Future Outlook - The regulatory environment for the Mountain Valley pipeline remains stable, with ongoing issues related to the Appalachian Trail crossing and Nationwide 12 permit [28] - The company anticipates a final order for the Roanoke Gas general rate case around the end of calendar year 2019 [14] - Fiscal 2019 earnings guidance is projected between $1.02 to $1.07 per share [16] Other Important Information - Operating expenses remained flat during the third quarter [8] - Other income increased by approximately $150,000, primarily due to revenue-sharing [11] Q&A Session Summary Question: Was the decrease in CapEx year-over-year anticipated? - Management indicated that the decrease was due to timing in 2019 projects, with some expenditures moving to the fiscal fourth quarter [24] Question: Update on the Mountain Valley pipeline's regulatory environment? - Management noted that weather conditions have been favorable for construction, and regulatory issues are proceeding as planned without significant changes [27][28] Question: Will gas access require the pipeline to be fully in service? - Management stated that the Appalachian Trail crossing would need to be completed for gas to flow, but there could be potential for backhauling gas if necessary [30] Question: Will the pipeline be brought online in stages? - Management confirmed that they are at the tail end of the pipeline and expect the full pipeline to be completed before gas flows [31]
RGC Resources(RGCO) - 2019 Q3 - Quarterly Report
2019-08-06 12:43
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For Quarterly Period Ended June 30, 2019 Commission File Number 000-26591 RGC Resources, Inc. (Exact name of Registrant as Specified in its Charter) VIRGINIA 54-1909697 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.) 519 Kimball Ave., N.E., Roanoke, VA 24016 (Address of Principal Executive ...
RGC Resources(RGCO) - 2019 Q2 - Earnings Call Transcript
2019-05-12 15:58
RGC Resources, Inc. (NASDAQ:RGCO) Q2 2019 Earnings Conference Call May 9, 2019 9:00 AM ET Company Participants John D'Orazio - President & CEO Paul Nester - CFO Conference Call Participants Michael Gaugler - Janney Montgomery Scott John D'Orazio Good morning. I'm John D'Orazio, President and CEO of RGC Resources, Inc. Welcome and thank you for joining us as we discuss RGC Resources' Second Quarter 2019 Results. First, I would like to go over a few administrative items. [Operator Instructions] The link to to ...
RGC Resources(RGCO) - 2019 Q2 - Quarterly Report
2019-05-06 14:16
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For Quarterly Period Ended March 31, 2019 Commission File Number 000-26591 RGC Resources, Inc. (Exact name of Registrant as Specified in its Charter) (State or Other Jurisdiction of Incorporation or Organization) VIRGINIA 54-1909697 (I.R.S. Employer Identification No.) 519 Kimball Ave., N.E., Roanoke, VA 24016 (Address of Principal Executiv ...