RGC Resources reports Q1 EPS 47c vs. 51c last year

Reports Q1 revenue $30.3M vs. $27.3M last year. The decrease in earnings reflected flat margins and higher costs for personnel, IT, property taxes and depreciation, which were partially offset by lower interest expense. “Our distribution system performed superbly this quarter,” said CEO Paul Nester. “Temperatures fluctuated significantly, averaging to colder than a year ago. However, we did not have the sustained cold period that we experienced last year as reflected in margin. Our steady customer growth has continued with new housing as well as a higher-than-normal number of reconnections this quarter.”