RGC Resources, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended September 30, 2023
November 20, 2023 at 08:45 am EST
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RGC Resources, Inc. reported earnings results for the fourth quarter and full year ended September 30, 2023. For the fourth quarter, the company reported sales was USD 12.47 million compared to USD 14.11 million a year ago. Net income was USD 1.01 million compared to net loss of USD 11.42 million a year ago. Basic earnings per share from continuing operations was USD 0.1 compared to basic loss per share from continuing operations of USD 1.16 a year ago. Diluted earnings per share from continuing operations was USD 0.1 compared to diluted loss per share from continuing operations of USD 1.16 a year ago.
For the full year, sales was USD 97.44 million compared to USD 84.17 million a year ago. Net income was USD 11.3 million compared to net loss of USD 31.73 million a year ago. Basic earnings per share from continuing operations was USD 1.14 compared to basic loss per share from continuing operations of USD 3.48 a year ago. Diluted earnings per share from continuing operations was USD 1.14 compared to diluted loss per share from continuing operations of USD 3.48 a year ago.
RGC Resources, Inc. is an energy services company. It is primarily engaged in the sale and distribution of natural gas to residential, commercial and industrial customers in Roanoke, Virginia, and the surrounding localities, through its subsidiary, Roanoke Gas Company (Roanoke Gas). Roanoke Gas also provides certain unregulated services. Roanoke Gas maintains an integrated natural gas distribution system to deliver natural gas purchased from suppliers to residential, commercial, and industrial users in its service territory. Roanoke Gas owns and operates about six metering stations through, which it measures and regulates the gas being delivered by its suppliers. These stations are located at various points throughout its distribution system. Roanoke Gas owns a liquefied natural gas storage facility located in its service territory that has the capacity to store up to 200,000 dekatherms (DTH) of natural gas. It has approximately 1,168 miles of transmission and distribution pipeline.
RGC RESOURCES, INC. 
