RGC Resources Reports Q1 2024 Financials

TL;DR

**RGC Resources Q1 2024:** Assets $322.6M, Liabilities $153.3M, Net Income $5M. **Strong quarter.**

AI Summary

RGC Resources, Inc. filed its 10-Q for the period ending December 31, 2024. The company reported total assets of $322,646,000 and total liabilities of $153,347,000. They also reported a net income of $5,000,000 for the quarter. The filing also details various financial instruments and their associated rates.

Why It Matters

This filing provides a snapshot of RGC Resources' financial health and performance for the first quarter of fiscal year 2024, impacting investor confidence and potential investment decisions.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediately apparent significant negative financial events or disclosures.

Key Numbers

• $322.6M — Total Assets (As of December 31, 2024)
• $153.3M — Total Liabilities (As of December 31, 2024)
• $5.0M — Net Income (For the quarter ended December 31, 2024)

Key Players & Entities

• RGC Resources Inc (company) — Filer of the 10-Q
• 2024-12-31 (date) — End of the reporting period
• $322,646,000 (dollar_amount) — Total assets
• $153,347,000 (dollar_amount) — Total liabilities
• $5,000,000 (dollar_amount) — Net income for the quarter

FAQ

Key Financial Figures

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

Filing Documents

• rgco20241231_10q.htm (10-Q) — 1485KB
• ex_754488.htm (EX-31.1) — 14KB
• ex_754489.htm (EX-31.2) — 15KB
• ex_754490.htm (EX-32.1) — 5KB
• ex_754491.htm (EX-32.2) — 6KB
• 0001437749-25-003304.txt ( ) — 7974KB
• rgco-20241231.xsd (EX-101.SCH) — 65KB
• rgco-20241231_cal.xml (EX-101.CAL) — 51KB
• rgco-20241231_def.xml (EX-101.DEF) — 438KB
• rgco-20241231_lab.xml (EX-101.LAB) — 355KB
• rgco-20241231_pre.xml (EX-101.PRE) — 482KB
• rgco20241231_10q_htm.xml (XML) — 1534KB

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 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 31 Item 4.

Controls and Procedures

Controls and Procedures 31

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 32 Item 1A.

Risk Factors

Risk Factors 32 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 3. Defaults Upon Senior Securities 32 Item 4. Mine Safety Disclosures 32 Item 5. Other Information 32 Item 6. Exhibits 33

Signatures

Signatures 34 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 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 Company RGC Resources, Inc. or Roanoke Gas Company CPCN Certificate of Public Convenience and Necessity 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 FERC Federal Energy Regulatory Commission GAAP Generally Accepted Accounting Principles in the United States Table of Contents HDD Heating degree day, a measurement designed to quantify the demand for energy. It is the number of degrees that a day's average temperature falls below 65 degrees Fahrenheit ICC Inventory carrying cost revenue, an SCC approved rate structure that mitigates the impact of financing costs on natural gas inventory IRS Internal Revenue Service KEYSOP RGC Resources, Inc. Key Employee Stock Option Plan LDI Liability Driven Investment approach, a strategy which reduces the volatility in the pension plan's funded status and expense by matching the duration of the fixed income investments with the duration of the corresponding pension liabilities LLC Mountain Valley Pipeline, L.L.C., a joint venture established to d

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View this 10-Q filing on SEC EDGAR