ROANOKE, Va., Aug. 05, 2026 (GLOBE NEWSWIRE) -- 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				Nine Months Ended
	June 30,				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

Contact: Timothy J. Mulvaney

Vice President, Treasurer and CFO

Telephone: (540) 777-3997