Rgc resources, inc. reports 2024 earnings

Roanoke, va., nov. 13, 2024 (globe newswire) -- rgc resources, inc. (nasdaq: rgco) announced consolidated company earnings of $11,760,896, or $1.16 per share, for the fiscal year ended september 30, 2024, compared to $11,299,282, or $1.14 per share, for the fiscal year ended september 30, 2023. the increase reflected higher levels of earnings from the company's investment in the mountain valley pipeline (“mvp”) due to more afudc in fiscal 2024 prior to the pipeline being placed in service in june 2024. the lower cost of natural gas in 2024 reduced bills to customers and revenues for the company, despite inflationary costs leading to higher tariffs. interest expense also increased primarily due to higher interest rates.
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