RGC RESOURCES INC
For the period ended Mar 31, 2026. Filed May 7, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 7, 2026
RGCO$23.19+0.2%Stored close · as of Nov 6, 2026
Contents
Table of Contents
INDEX
| | | Page No. |
|---|---|---|
| | | |
| PART I. FINANCIAL INFORMATION | ||
| | | |
| Item 1. · Financial Statements | ||
| | Condensed Consolidated Balance Sheets | 1 |
| | CONDENSED CONSOLIDATED STATEMENTS OF INCOME | 3 |
| | CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | 4 |
| | CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY | 5 |
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | 6 | |
| | Notes to Condensed Consolidated Financial Statements | 7 |
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 24 |
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 34 |
| Item 4. | Controls and Procedures | 34 |
| PART II. OTHER INFORMATION | ||
| Item 1. | Legal Proceedings | 35 |
| Item 1A. | Risk Factors | 35 |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 35 |
| Item 3. | Defaults Upon Senior Securities | 35 |
| Item 4. | Mine Safety Disclosures | 35 |
| Item 5. | Other Information | 35 |
| Item 6. | Exhibits | 36 |
| Signatures | | 37 |
GLOSSARY OF TERMS
| AFUDC | Allowance for Funds Used During Construction |
|---|---|
| AOCI/AOCL | Accumulated Other Comprehensive Income (Loss) |
| ARO | Asset Retirement Obligation |
| ARP | Alternative Revenue Program, regulatory or rate recovery mechanisms approved by the SCC that allow for the adjustment of revenues for certain broad, external factors, or for additional billings if the entity achieves certain performance targets |
| ASC | Accounting Standards Codification |
| ASU | Accounting Standards Update as issued by the FASB |
| ATM | At-the-market program whereby a Company can incrementally offer common stock through a broker at prevailing market prices and on an as-needed basis |
| Boost | Mountain Valley Pipeline, LLC's Boost project, which is a project to add compression on the MVP mainline to enable 600,000 additional DTHs of daily capacity |
| CODM | Chief Operating Decision Maker |
| Company | RGC Resources, Inc. or Roanoke Gas Company |
| CPCN | Certificate of Public Convenience and Necessity |
| DRIP | Dividend Reinvestment and Stock Purchase Plan of RGC Resources, Inc. |
| DTH | Decatherm (a measure of energy used primarily to measure natural gas) |
| EPS | Earnings Per Share |
| ERISA | Employee Retirement Income Security Act of 1974 |
| FASB | Financial Accounting Standards Board |
| FDIC | Federal Deposit Insurance Corporation |
| FERC | Federal Energy Regulatory Commission |
| GAAP | Generally Accepted Accounting Principles in the United States |
| HDD | Heating degree day, a measurement designed to quantify the demand for energy. It is the number of degrees that a day’s average temperature falls below 65 degrees Fahrenheit |
|---|
| ICC | Inventory carrying cost revenue, an SCC approved rate structure that mitigates the impact of financing costs on natural gas inventory |
|---|---|
| IRS | Internal Revenue Service |
| KEYSOP | RGC Resources, Inc. Key Employee Stock Option Plan |
| LDI | Liability Driven Investment approach, a strategy which reduces the volatility in the pension plan's funded status and expense by matching the duration of the fixed income investments with the duration of the corresponding pension liabilities |
| LLC | Mountain Valley Pipeline, L.L.C., a joint venture established to design, construct and operate the Mountain Valley Pipeline, MVP Southgate and MVP Boost |
| LNG | Liquefied natural gas, the cryogenic liquid form of natural gas. Roanoke Gas operates and maintains a plant capable of producing and storing up to 200,000 DTH of liquefied natural gas |
| MGP | Manufactured gas plant |
|---|---|
| Midstream | RGC Midstream, L.L.C., a wholly-owned subsidiary of Resources created to invest in pipeline projects including the MVP and Southgate |
| MVP | Mountain Valley Pipeline, a FERC-regulated natural gas pipeline connecting the EQT Corporation's gathering and transmission system in northern West Virginia to the Transco interstate pipeline in south central Virginia with interconnects to Roanoke Gas’ natural gas distribution system |
| NQDC Plan | RGC Resources, Inc. Non-qualified Deferred Compensation Plan |
| Normal Weather | The average number of heating degree days over the most recent 30-year period |
| PBGC | Pension Benefit Guaranty Corporation |
| Pension Plan | Defined benefit plan that provides pension benefits to employees hired prior to January 1, 2017 who meet certain years of service criteria |
| PGA | Purchased Gas Adjustment, a regulatory mechanism, which adjusts natural gas customer rates to reflect changes in the forecasted cost of gas and actual gas costs |
| Postretirement Plan | Defined benefit plan that provides postretirement medical and life insurance benefits to eligible employees hired prior to January 1, 2000 who meet years of service and other criteria |
| R&D Tax Credit | Research and development federal tax credit defined under Internal Revenue Code section 41 and the related regulations |
| Resources | RGC Resources, Inc., parent company of Roanoke Gas and Midstream |
|---|---|
| RGCO | Trading symbol for RGC Resources, Inc. on the NASDAQ Global Stock Market |
| RNG | Renewable Natural Gas |
| RNG Rider | Renewable Natural Gas Rider, the rate component as approved by the SCC that is billed monthly to the Company’s customers to recover the costs associated with the investment in RNG facilities and related operating costs |
| Roanoke Gas | Roanoke Gas Company, a wholly-owned subsidiary of Resources |
| ROU Asset | Right of Use Asset |
| RSPD | RGC Resources, Inc. Restricted Stock Plan for Outside Directors |
| RSPO | RGC Resources, Inc. Restricted Stock Plan for Officers |
| SAVE | Steps to Advance Virginia's Energy, a regulatory mechanism per Chapter 26 of Title 56 of the Code of Virginia that allows natural gas utilities to recover the investment, including related depreciation and expenses and provide return on rate base, in eligible infrastructure replacement projects without the filing of a formal base rate application |
| SAVE Plan | Steps to Advance Virginia's Energy Plan, the Company's approved operational replacement plan and related spending under the SAVE regulatory mechanism |
| SAVE Rider | Steps to Advance Virginia's Energy Plan Rider, the rate component of the SAVE Plan as approved by the SCC that is billed monthly to the Company’s customers to recover the costs associated with eligible infrastructure projects including the related depreciation and expenses and return on rate base of the investment |
| SCC | Virginia State Corporation Commission, the regulatory body with oversight responsibilities of the utility operations of Roanoke Gas |
| SEC | U.S. Securities and Exchange Commission |
| SOFR | Secured Overnight Financing Rate |
| Southgate | Mountain Valley Pipeline, LLC’s Southgate project, which is constructing a FERC-regulated natural gas pipeline from the MVP in south central Virginia to North Carolina |
| S&P 500 Index | Standard & Poor’s 500 Stock Index |
| WNA | Weather Normalization Adjustment, an ARP mechanism which adjusts revenues for the effects of weather temperature variations as compared to the 30-year average |
| Some of the terms above may not be included in this filing | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.