RGC Resources(US:RGCO) Globenewswireยท2025-05-06 21:30Core Viewpoint - RGC Resources, Inc. reported a significant increase in earnings for the second quarter of fiscal 2025, driven by higher utility margins and base rates, despite challenges from lower earnings from affiliates and increased interest expenses [1][2]. Financial Performance - The consolidated earnings for the second quarter ended March 31, 2025, were $7,676,208, or $0.74 per share, compared to $6,443,390, or $0.63 per share for the same period in 2024, marking an increase of approximately 19.2% in net income [1][7]. - For the first six months of fiscal 2025, net income reached $12,945,897, or $1.26 per share, up 12.9% from $11,463,382, or $1.14 per share in the prior year [2][7]. - Operating revenues for the second quarter of 2025 were $36,462,097, compared to $32,659,376 in 2024, reflecting a growth of approximately 11% [7]. - Operating expenses increased to $26,062,155 in the second quarter of 2025 from $24,029,667 in 2024, resulting in an operating income of $10,399,942, up from $8,629,709 [7][8]. Operational Highlights - The utility margin increased by 12% due to cooler winter weather and higher base rates, with a notable contribution from a large industrial customer [2]. - Earnings from the investment in the MVP pipeline were $801,175 for the second quarter of 2025, down from $1,229,384 in the same quarter of 2024, attributed to the completion of the construction phase [2]. Company Overview - RGC Resources, Inc. provides energy and related products and services to customers in Virginia through its subsidiaries, Roanoke Gas Company and RGC Midstream, LLC [3]. Balance Sheet Insights - As of March 31, 2025, total assets were $326,421,287, an increase from $313,359,530 in 2024 [10]. - Current liabilities rose significantly to $45,489,019 from $21,702,382, while long-term debt decreased to $115,226,622 from $135,916,887 [10]. - Stockholders' equity increased to $117,833,223 from $110,543,862, indicating a strengthening financial position [10].