RGC Resources, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>RGC Resources, Inc. filed its 10-Q for the quarter ending March 31, 2024, reporting $483,110 in revenue and $0.20 EPS.</b>

AI Summary

RGC RESOURCES INC (RGCO) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. RGC Resources, Inc. reported revenue of $483,110 for the quarter ending March 31, 2024. Net income for the quarter was $155,164. Earnings per share (EPS) for the quarter was $0.20. The company's fiscal year ends on September 30. The filing is for the period ending March 31, 2024.

Why It Matters

For investors and stakeholders tracking RGC RESOURCES INC, this filing contains several important signals. This filing provides a quarterly update on RGC Resources, Inc.'s financial performance, including revenue, net income, and EPS, which are crucial for investors to assess the company's operational health. The 10-Q filing offers insights into the company's financial position and operational results for the specified period, enabling stakeholders to make informed investment decisions.

Risk Assessment

Risk Level: low — RGC RESOURCES INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediately apparent significant negative or positive deviations from typical reporting, suggesting a low level of immediate risk.

Analyst Insight

Monitor future filings for trends in revenue and profitability to assess the company's growth trajectory and financial stability.

Financial Highlights

revenue

483110

net Income

155164

eps

0.20

Key Numbers

• 483,110 — Revenue (For the quarter ending March 31, 2024.)
• 155,164 — Net Income (For the quarter ending March 31, 2024.)
• 0.20 — EPS (For the quarter ending March 31, 2024.)
• 0930 — Fiscal Year End (Annual fiscal year end date.)

Key Players & Entities

• RGC Resources Inc (company) — Filer of the 10-Q report.
• VA (location) — State of incorporation and business address.
• Roanoke (location) — City of business and mail address.

FAQ

Industry Context

RGC Resources, Inc. operates in the natural gas transmission and distribution industry, providing essential energy services.

Regulatory Implications

As a natural gas utility, the company is subject to regulatory oversight concerning service provision, pricing, and safety standards.

What Investors Should Do

1. Review the full 10-Q for detailed financial statements and management's discussion and analysis.
2. Compare the reported revenue and EPS with previous quarters and the same quarter last year.
3. Investigate any disclosed risk factors or legal proceedings mentioned in the filing.

Key Dates

• 2024-03-31: Quarterly Period End — Financial results reported in the 10-Q filing.
• 2024-05-03: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the quarterly report for the period ending March 31, 2024, providing updated financial information compared to previous filings.

Key Financial Figures

• $5 — nge on Which Registered Common Stock, $5 Par Value RGCO NASDAQ Global Market

Filing Documents

• rgco20240331_10q.htm (10-Q) — 1791KB
• ex_665701.htm (EX-10.5) — 454KB
• ex_630949.htm (EX-31.1) — 14KB
• ex_630950.htm (EX-31.2) — 15KB
• ex_630951.htm (EX-32.1) — 5KB
• ex_630952.htm (EX-32.2) — 6KB
• 0001437749-24-014594.txt (&nbsp;) — 9532KB
• rgco-20240331.xsd (EX-101.SCH) — 66KB
• rgco-20240331_cal.xml (EX-101.CAL) — 49KB
• rgco-20240331_def.xml (EX-101.DEF) — 439KB
• rgco-20240331_lab.xml (EX-101.LAB) — 358KB
• rgco-20240331_pre.xml (EX-101.PRE) — 485KB
• rgco20240331_10q_htm.xml (XML) — 1917KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets 1 CONDENSED CONSOLIDATED STATEMENTS OF INCOME 3 CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME 4 CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY 5 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 6 Notes to Condensed Consolidated Financial Statements 7 Item 2. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.

Controls and Procedures

Controls and Procedures 36

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 37 Item 1A.

Risk Factors

Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 3. Defaults Upon Senior Securities 37 Item 4. Mine Safety Disclosures 37 Item 5. Other Information 37 Item 6. Exhibits 38

Signatures

Signatures 39 Table of Contents GLOSSARY OF TERMS AFUDC Allowance for Funds Used During Construction AOCI/AOCL Accumulated Other Comprehensive Income (Loss) ARO Asset Retirement Obligation ARP Alternative Revenue Program, regulatory or rate recovery mechanisms approved by the SCC that allow for the adjustment of revenues for certain broad, external factors, or for additional billings if the entity achieves certain performance targets ARPA American Rescue Plan Act of 2021 ASC Accounting Standards Codification ASU Accounting Standards Update as issued by the FASB ATM At-the-market program whereby a Company can incrementally offer common stock through a broker at prevailing market prices and on an as-needed basis CARES/CARES Act The Coronavirus Aid, Relief, and Economic Security Act Company RGC Resources, Inc. or Roanoke Gas Company COVID-19 or Coronavirus A pandemic disease that causes respiratory illness similar to the flu with symptoms such as coughing, fever, and in more severe cases, difficulty in breathing CPCN Certificate of Public Convenience and Necessity D.C. Circuit U. S. Court of Appeals for the District of Columbia Diversified Energy Diversified Energy Company, a wholly-owned subsidiary of Resources DRIP Dividend Reinvestment and Stock Purchase Plan of RGC Resources, Inc. DTH Decatherm (a measure of energy used primarily to measure natural gas) EPS Earnings Per Share ERISA Employee Retirement Income Security Act of 1974 FASB Financial Accounting Standards Board FDIC Federal Deposit Insurance Corporation Table of Contents FERC Federal Energy Regulatory Commission Fourth Circuit U.S. Fourth Circuit Court of Appeals FRA Fiscal Responsibility Act of 2023, bi-partisan legislation containing certain provisions specific to MVP GAAP Generally Accepted Accounting Principles in the United States HDD Heating degree day, a measurement designed to quantify the demand for energy. It is the number of degrees

View Full Filing

View this 10-Q filing on SEC EDGAR