rgco20260609_8k.htm
false 0001069533 0001069533 2026-08-05 2026-08-05
UNITED STATES
 
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
 
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
 
Date of Report (Date of Earliest Event Reported): August 5, 2026
 
RGC RESOURCES, INC.
(Exact name of Registrant as specified in its charter)
 
Virginia
000-26591
54-1909697
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
 
 
 
519 Kimball Ave., N.E. Roanoke, Virginia
24016
(Address of principal executive offices)
(Zip Code)
 
Registrant’s telephone number, including area code: 540-777-4427
 
 
(Former name or former address, if changed since last report)
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of Each Class
Trading
Symbol
Name of Each Exchange on Which Registered
Common Stock, $5 Par Value
RGCO
NASDAQ Global Market
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 if the Securities Exchange Act of 1934.
 
 
Emerging growth company             
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐
 
 

 
ITEM 2.02.
RESULTS OF OPERATIONS AND FINANCIAL CONDITION
 
On August 5, 2026, RGC Resources, Inc. issued a press release announcing the results for the third quarter ending June 30, 2026.  A copy of this press release is attached hereto as Exhibit 99.1 and is hereby incorporated by reference.
 
ITEM 8.01.
OTHER EVENTS
 
The press release attached hereto as Exhibit 99.1 is also incorporated into this Item 8.01 by reference and therefore deemed "filed" for purposes of the Securities Exchange Act of 1934, as amended.
 
ITEM 9.01.
FINANCIAL STATEMENTS AND EXHIBITS
 
 
99.1 
  104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
 
 

 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
 
RGC RESOURCES, INC.
 
       
Date: August 5, 2026
By:
/s/ Timothy J. Mulvaney
 
 
 
Timothy J. Mulvaney  
 
 
Vice President, Treasurer and Chief Financial Officer  
 
 

Exhibit 99.1

NEWS RELEASE

 

 

RGC RESOURCES, INC.

 

Release Date:

August 5, 2026

Contact:

Timothy J. Mulvaney
  Vice President, Treasurer and CFO

Telephone:

(540) 777-3997

 

 

RGC RESOURCES, INC. REPORTS

THIRD QUARTER EARNINGS

 

 

ROANOKE, Va.  (August 5, 2026)--RGC Resources, Inc. (Nasdaq:  RGCO) announced consolidated earnings of $559,000, or $0.05 per diluted share, for the third quarter ended June 30, 2026, compared to $538,000, or $0.05 per diluted share, for the third quarter ended June 30, 2025.  Operating margin for the third quarter was $757,000 higher than the equivalent period a year earlier aided by higher non-gas base rates that became effective January 1, 2026. Operating expenses were higher by a similar amount resulting in a nominal decline in operating earnings.  

 

CEO Paul Nester stated, “This year’s third quarter included improved margins from higher base rates and SAVE investment, as well as continued residential growth, offset by persistent inflation and the effect of an industrial customer ceasing operations.  Delivered firm volumes were steady to the prior year, and interruptible volumes to industrial customers increased, albeit at lower-tiered margins.”

 

The Company’s net income of $14.2 million, or $1.37 per diluted share, in the first nine months of fiscal 2026 was up 5.2% from $13.5 million, or $1.31 per diluted share, a year earlier due to stronger operating margins and lower interest expense, particularly early in the year.

 

RGC Resources, Inc. provides energy and related products and services to customers in Virginia through its operating subsidiaries Roanoke Gas Company and RGC Midstream, LLC.

 

The statements in this release that are not historical facts constitute “forward-looking statements” made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause the Company’s actual results and experience to differ materially from any expectations expressed in the Company’s forward-looking statements, regarding inflation, customer growth, ratemaking, infrastructure investment and margins. These risks and uncertainties include gas prices and supply, geopolitical considerations, expectations regarding the MVP and the Company’s rate application along with risks included under Item 1-A in the Company’s fiscal 2025 Form 10-K updated by the Company’s March 31, 2026 Form 10-Q.  Forward-looking statements reflect the Company’s current expectations only as of the date they are made. The Company assumes no duty to update these statements should expectations change or actual results differ from current expectations except as required by applicable laws and regulations.

 

Past performance is not necessarily a predictor of future results.

 

Summary financial statements for the third quarter and fiscal year to date are as follows:

 

 

 

RGC Resources, Inc. and Subsidiaries

Condensed Consolidated Statements of Income

(Unaudited)

 

   

Three Months Ended June 30,

   

Nine Months Ended June 30,

 
   

2026

   

2025

   

2026

   

2025

 
                                 

Operating revenues

  $ 17,105,393     $ 17,264,615     $ 92,822,870     $ 81,016,198  

Operating expenses

    15,933,124       16,068,055       73,816,314       62,091,675  

Operating income

    1,172,269       1,196,560       19,006,556       18,924,523  

Equity in earnings of unconsolidated affiliates

    764,178       772,082       2,495,239       2,427,470  

Other income, net

    328,966       244,000       1,526,376       1,180,969  

Interest expense

    1,551,750       1,512,754       4,808,738       4,922,959  

Income before income taxes

    713,663       699,888       18,219,433       17,610,003  

Income tax expense

    154,763       161,476       4,033,178       4,125,694  
                                 

Net income

  $ 558,900     $ 538,412     $ 14,186,255     $ 13,484,309  
                                 

Net earnings per share of common stock:

                               

Basic

  $ 0.05     $ 0.05     $ 1.39     $ 1.31  

Diluted

  $ 0.05     $ 0.05     $ 1.37     $ 1.31  
                                 

Cash dividends per common share

  $ 0.2175     $ 0.2075     $ 0.6525     $ 0.6225  
                                 

Weighted average number of common shares outstanding:

                               

Basic

    10,276,190       10,319,232       10,210,450       10,294,227  

Diluted

    10,418,876       10,324,165       10,392,293       10,298,688  


Condensed Consolidated Balance Sheets

(Unaudited)

 

   

June 30,

 

Assets

 

2026

   

2025

 

Current assets

  $ 22,006,819     $ 21,595,712  

Utility property, net

    282,505,823       270,538,465  

Other non-current assets

    35,146,489       32,623,816  
                 

Total Assets

  $ 339,659,131     $ 324,757,993  
                 

Liabilities and Stockholders’ Equity

               

Current liabilities

  $ 23,406,692     $ 20,695,773  

Long-term debt, net

    145,607,087       139,743,390  

Deferred credits and other non-current liabilities

    47,771,173       48,057,512  

Total Liabilities

    216,784,952       208,496,675  

Stockholders’ Equity

    122,874,179       116,261,318  
                 

Total Liabilities and Stockholders’ Equity

  $ 339,659,131     $ 324,757,993