ROANOKE, Va., Nov. 19, 2025 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (Nasdaq: RGCO) announced consolidated Company earnings of $13.3 million, or $1.29 per share, for the fiscal year ended September 30, 2025, compared to $11.8 million, or $1.16 per share, for the fiscal year ended September 30, 2024. The strong increase reflected record levels of gas deliveries aided by higher operating margins, partially offset by inflationary cost increases and lower equity earnings from the Company's investment in the Mountain Valley Pipeline $(MVP)$. MVP's equity earnings in the first three quarters of fiscal 2024 contained significant allowance for funds used during construction.

Roanoke Gas made further investments in its utility infrastructure to drive customer growth and enhance system reliability. CEO Paul Nester stated, "We delivered gas effectively and efficiently to all of our customers in what turned out to be one of the coldest winters in the last decade, resulting in the highest annual volume of gas we have ever delivered. Also, we are pleased to have successfully refinanced and extended the maturity of RGC Midstream's debt in September."

Net loss for the quarter ended September 30, 2025 was $204,000, or $0.02 per share, compared to net income of $141,000, or $0.01 per share, for the quarter ended September 30, 2024. The fourth quarter is seasonally weaker and had higher expense levels year over year, which resulted in a modest loss.

RGC Resources, Inc. provides energy and related products and services to customers in Virginia through its operating subsidiaries Roanoke Gas Company and RGC Midstream, LLC.

The statements in this release that are not historical facts constitute "forward-looking statements" made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause the Company's actual results and experience to differ materially from any expectations expressed in the Company's forward-looking statements, regarding customer growth, infrastructure investment and margins. These risks and uncertainties include inflation, gas prices and supply, geopolitical considerations, expectations regarding the rate making, MVP operation and Southgate and Boost construction, along with risks included under Item 1-A in the Company's fiscal 2024 Form10-K. Forward-looking statements reflect the Company's current expectations only as of the date they are made. The Company assumes no duty to update these statements should expectations change or actual results differ from current expectations except as required by applicable laws and regulations.

Past performance is not necessarily a predictor of future results.

Summary financial statements for the fourth quarter and twelve months are as follows:

 
 
RGC Resources, Inc. and Subsidiaries 
Condensed Consolidated Statements of Income 
(Unaudited) 
 
                       Three Months Ended         Twelve Months Ended 
                         September 30,               September 30, 
                       2025          2024          2025          2024 
 
Operating 
 revenues          $14,318,014   $ 13,104,302  $ 95,334,212  $84,641,232 
Operating 
 expenses           14,795,036     12,861,881    76,886,711   67,559,472 
Operating income 
 (loss)               (477,022)       242,421    18,447,501   17,081,760 
Equity in 
 earnings of 
 unconsolidated 
 affiliate             807,162        872,048     3,234,632    3,851,871 
Other income, net    1,051,914        887,837     2,232,883    1,028,761 
Interest expense     1,620,552      1,734,906     6,543,511    6,504,885 
Income (loss) 
 before income 
 taxes                (238,498)       267,400    17,371,505   15,457,507 
Income tax 
 expense 
 (benefit)             (34,159)       126,578     4,091,535    3,696,611 
 
Net income (loss)  $  (204,339)  $    140,822  $ 13,279,970  $11,760,896 
 
Net earnings 
(loss) per share 
of common 
stock: 
  Basic            $     (0.02)  $       0.01  $       1.29  $      1.16 
  Diluted          $     (0.02)  $       0.01  $       1.29  $      1.16 
 
Cash dividends 
 per common 
 share             $    0.2075   $     0.2000  $     0.8300  $    0.8000 
 
Weighted average number of 
common shares outstanding: 
  Basic             10,333,432     10,223,785    10,304,109   10,152,909 
  Diluted           10,338,346     10,228,365    10,308,686   10,156,480 
 
 
Condensed Consolidated Balance Sheets 
(Unaudited) 
 
                                              September 30, 
Assets                                   2025          2024 
Current assets                   $ 23,319,191  $ 25,072,301 
Utility property, 
 net                              274,913,583   262,041,454 
Other non-current 
 assets                            31,606,792    33,585,468 
 
  Total Assets                   $329,839,566  $320,699,223 
 
Liabilities and 
Stockholders' 
Equity 
Current 
 liabilities                     $ 22,539,724  $ 28,698,430 
Long-term debt, 
 net                              145,769,163   136,672,908 
Deferred credits 
 and other 
 non-current 
 liabilities                       47,977,889    47,191,110 
   Total 
    Liabilities                   216,286,776   212,562,448 
Stockholders' 
 Equity                           113,552,790   108,136,775 
 
  Total 
   Liabilities 
   and 
   Stockholders' 
   Equity                        $329,839,566  $320,699,223 
 
 
 
Contact:      Timothy J. Mulvaney 
             VP, Treasurer and CFO 
Telephone:          (540) 777-3997 
 

(END) Dow Jones Newswires

November 19, 2025 16:57 ET (21:57 GMT)