RGC Resources(US:RGCO)2020-02-07 15:17Financial 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]