RGC Resources Q1 earnings fall to $0.33/share from $0.43, citing inflation and higher interest costs

RGC RESOURCES INC

2023-Q1 EPS reported $0.33 revenue$33,282,335

Net income $3.26M ($0.33 diluted EPS) vs $3.58M ($0.43) in prior-year quarter.
Utility margins improved but higher operating costs and interest expense weighed on earnings.
Trailing twelve months underlying net income $0.93/share vs $1.08 in prior period.
CEO cites inflationary environment and floating-rate debt interest as key drags.
Quarterly results not indicative of full year due to seasonal winter earnings.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RGC RESOURCES INC reported the quarter ended December 31, 2022 results: net income $3,256,405, or $0.33, per share, EPS $0.33 per share.

Period: the quarter ended December 31, 2022
Net income: $3,256,405, or $0.33, per share
EPS: $0.33 per share
Result: reported results

Exact text from the filing

RGC Resources, Inc. (NASDAQ: RGCO) announced consolidated Company earnings of $3,256,405, or $0.33, per share for the quarter ended December 31, 2022.

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Source: SEC EDGAR

accession 0001437749-23-002803

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