Form 8-K

8-K — RGC RESOURCES INC

Accession: 0001437749-26-015247

Filed: 2026-05-06

Period: 2026-05-06

CIK: 0001069533

SIC: 4923 (NATURAL GAS TRANSMISSION & DISTRIBUTION)

Item: Results of Operations and Financial Condition

Item: Other Events

Item: Financial Statements and Exhibits

Documents

8-K — rgco20260212_8k.htm (Primary)

EX-99.1 — EXHIBIT 99.1 (ex_920240.htm)

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8-K — FORM 8-K

8-K (Primary)

Filename: rgco20260212_8k.htm · Sequence: 1

rgco20260212_8k.htm

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0001069533

2026-05-06

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): May 6, 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 May 6, 2026, RGC Resources, Inc. issued a press release announcing the results for the second quarter ending March 31, 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

Second Quarter Earnings Press Release dated May 6, 2026.

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: May 6, 2026

By:

/s/ Timothy J. Mulvaney

Timothy J. Mulvaney

Vice President, Treasurer and Chief Financial Officer

EX-99.1 — EXHIBIT 99.1

EX-99.1

Filename: ex_920240.htm · Sequence: 2

ex_920240.htm

Exhibit 99.1

NEWS RELEASE

RGC RESOURCES, INC.

Release Date:

May 6, 2026

Contact:

Timothy J. Mulvaney

Vice President, Treasurer and CFO

Telephone:

(540) 777-3997

RGC RESOURCES, INC. REPORTS

SECOND QUARTER EARNINGS

ROANOKE, Va. (May 6, 2026)--RGC Resources, Inc. (Nasdaq: RGCO) announced consolidated Company earnings of $8.7 million, or $0.84 per diluted share, for the second quarter ended March 31, 2026, compared to $7.7 million, or $0.74 per diluted share, for the second quarter ended March 31, 2025. The increase was the result of higher operating margins which included the positive effect of the Company’s interim base rates under the pending rate case partially offset by increased operating expenses and depreciation. Additionally, higher earnings from the Company’s investment in the Mountain Valley Pipeline, LLC (“MVP”) and lower interest expense contributed to the performance.

CEO Paul Nester stated, “We had a strong quarter in which our system performed superbly, particularly during the prolonged cold from Winter Storm Fern. The MVP pipeline delivered as promised across the eastern half of the country including to the benefit of our customers in the Roanoke Valley. Interim rates that became effective at the beginning of January were timely as challenges from inflationary pressures will continue to affect the remainder of the year.”

As noted above and announced last quarter, the Company has an expedited rate case which is currently being reviewed by the State Corporation Commission. Rates went into effect January 1, 2026 and are subject to refund.

Through the first six months of fiscal 2026, the Company’s net income of $13.6 million, or $1.31 per diluted share, was up 5.3% from $12.9 million, or $1.26 per diluted share, in the first six months of the prior year due to stronger operating margins in the second quarter and lower interest expense over the first half of the fiscal 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. 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 second quarter and fiscal year to date are as follows:

RGC Resources, Inc. and Subsidiaries

Condensed Consolidated Statements of Income

(Unaudited)

Three Months Ended March 31,

Six Months Ended March 31,

2026

2025

2026

2025

Operating revenues

45,457,009

36,462,097

75,717,477

63,751,583

Operating expenses

34,173,059

26,062,155

57,883,190

46,023,620

Operating income

11,283,950

10,399,942

17,834,287

17,727,963

Equity in earnings of unconsolidated affiliates

903,991

801,175

1,731,061

1,655,388

Other income, net

692,421

463,633

1,197,410

936,969

Interest expense

1,585,838

1,630,275

3,256,988

3,410,205

Income before income taxes

11,294,524

10,034,475

17,505,770

16,910,115

Income tax expense

2,550,034

2,358,267

3,878,415

3,964,218

Net income

8,744,490

7,676,208

13,627,355

12,945,897

Net earnings per share of common stock:

Basic

0.85

0.74

1.34

1.26

Diluted

0.84

0.74

1.31

1.26

Cash dividends per common share

0.2175

0.2075

0.4350

0.4150

Weighted average number of common shares outstanding:

Basic

10,232,835

10,304,222

10,177,581

10,281,725

Diluted

10,404,657

10,308,368

10,378,996

10,285,939

Condensed Consolidated Balance Sheets

(Unaudited)

March 31,

Assets

2026

2025

Current assets

25,712,684

25,777,943

Utility property, net

278,879,716

267,560,507

Other non-current assets

32,512,418

33,082,837

Total Assets

337,104,818

326,421,287

Liabilities and Stockholders’ Equity

Current liabilities

37,334,730

45,489,019

Long-term debt, net

128,925,540

115,226,622

Deferred credits and other non-current liabilities

46,760,043

47,872,423

Total Liabilities

213,020,313

208,588,064

Stockholders’ Equity

124,084,505

117,833,223

Total Liabilities and Stockholders’ Equity

337,104,818

326,421,287

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