RGC Resources reports Q1 net income $5.27M, EPS $0.51 vs $0.50 YoY

RGC RESOURCES INC

2024-Q1 EPS reported $0.51 revenue$27,289,486

Net income of $5,269,689 ($0.51 diluted EPS) vs $5,019,992 ($0.50) in prior-year Q1.
Higher utility margin driven by new base rates effective July 1, 2024.
Equity earnings from MVP fell to $854,213 (operational) from $1,467,835 (AFUDC).
Higher interest expense partially offset the margin improvement.
December colder weather and strong usage by largest transportation customer contributed.

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