Rgc resources, inc. reports third quarter earnings

Roanoke, va., aug. 05, 2024 (globe newswire) -- rgc resources, inc. (nasdaq: rgco) announced consolidated company earnings of $156,692, or $0.02 per share, for the third quarter ended june 30, 2024, compared to $686,816, or $0.07 per share, for the fiscal quarter ended june 30, 2023. the decline was the result of decreased operating income due to higher personnel and professional costs as well as persistent inflationary pressures across most areas compared to a year ago, along with lower noncash earnings from the company's investment in the mountain valley pipeline, llc (“mvp”) as the pipeline transitioned from construction to gas transmission operations.
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