RGC Resources reported third-quarter earnings of $0.05 per share, driven by rate increases and new revenues offsetting weather and industrial customer impacts.
RGC Resources (NASDAQ:RGCO) reported fiscal third-quarter net income of $550,000, or $0.05 per diluted share, as higher margins countered uneven weather and the loss of a large industrial customer. Operating expenses rose due to inflationary pressures but were partly offset by lower gas costs.
For the first nine months of fiscal 2026, the company earned $14.2 million, or $1.37 per share, up 4.6% from $1.31 in the prior-year period. The increase was attributed to a non-gas base rate hike, which had a stronger effect during the winter heating season.
Residential and commercial gas usage remained flat despite slightly colder weather, with uneven temperature patterns limiting demand. The company cited inflationary pressures on personnel, professional services, and IT costs.