10-K · December 4, 2025
RGC Resources (Resources / Roanoke Gas) is a small, regulated natural gas utility whose Roanoke Gas distribution operations accounted for more than 99% of consolidated revenues in FY2025. Fiscal 2025 revenue increased…
Earnings analysis · 10-Q
RGCO earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
RGC Resources, Inc. delivered a robust Q2 2026 performance, with net income growing to $8.7 million or $0.84 per diluted share, exceeding market expectations due to improved operating margins and investment in the…
Read full summary
RGC Resources, Inc. delivered a robust Q2 2026 performance, with net income growing to $8.7 million or $0.84 per diluted share, exceeding market expectations due to improved operating margins and investment in the Mountain Valley Pipeline. Revenue reached $45.5 million, driven by increased gas sales and successful implementation of higher non-gas base rates, reflecting a 25% rise from Q2 2025.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.84
- Segment
- Gas Utility
- Segment
- Investment in Affiliates
What stood out
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Strong Revenue Growth
Revenue surged to $45.5 million, up 25% from $36.5 million in Q2 2025.
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EPS Beat Expectations
Diluted EPS reached $0.84, exceeding estimates of $0.77.
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Improved Gross Utility Margin
Gross utility margin increased by 7% to $20.8 million from $19.4 million.
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Higher Investment Earnings
Equity in earnings from investment activities rose by $102,816, or 13%.
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Significant Increase in SAVE Revenues
SAVE program revenues increased by $261,000, providing additional margin support.
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Improved Cash Position
Cash and cash equivalents rose to $3.4 million, up from $2.3 million.
What to watch
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Inflationary Pressures on Costs
Operating expenses increased by $295,775, or 6%, due to inflation impacting various cost items.
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Regulatory Risk from LNG Facility Damage
Ongoing issues with LNG facility damage could financially impact operations if unrecoverable.
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Weather Variability Impact on Demand
Winter weather fluctuations could adversely impact gas demand and revenue.
Management's outlook
Outlook deferred to earnings press release / call.
Earlier filings 4
10-Q · February 10, 2025
RGC Resources reported quarterly revenue of $27,289,486 (up $2,870,134 or 11.8% vs. $24,419,352 a year ago) and net income of $5,269,689 (diluted EPS $0.51, up $0.01 vs. $0.50). Operating income rose to $7,328,021 but…
10-Q · February 6, 2024
RGC Resources reported quarterly revenue of $24,419,352 (down $8,862,983 or ~26.7% vs. $33,282,335 a year ago) while net income rose to $5,019,992 ($0.50 diluted EPS vs. $0.33). Margins expanded materially (operating…
10-K · December 1, 2023
RGC Resources remains a predominantly regulated, local natural gas utility: Roanoke Gas accounted for more than 99% of consolidated revenues in fiscal 2023. The company reported $97,439,765 of revenue and $45,671,443 of…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.