Rgc Resources Inc. · NASDAQ:RGCO
Rgc Resources — Q1 2023 Earnings Presentation
14 slides from Rgc Resources's earnings presentation, Feb 10, 2023
Slide 1: Q1 2023 Earnings Call
Q1 2023 Earnings Call February 10, 2023
Slide 2: Forward-Looking Statements
Forward-Looking Statements The statements in this presentation by RGC Resources, Inc. (the "Company") 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 uncert
Slide 3: Agenda
Agenda Q Operational and Financial Highlights Q 2023 Outlook Q Questions
Slide 4: Customer Growth
Customer Growth Average Customers for 12 months ended December 31, 63,000 62,724 62,629 62,500 62,155 62,000 61,500 61,330 61,000 5 2019 2020 2021 2022 UO 62,911 total OQ 1.1 miles main customers QO 189 services Ea
Slide 5: Q1 Gas Volumes
Q1 Gas Volumes DTH Delivered Q12023 Qi 2022 1,600 1,400 1,200 1,000 800 600 400 200 Thousands Residential Commercial Industrial 2023 vs 2022 Total Volumes 23% Commercial & Industrial Volumes 20% pi Heating Degree Days 31% —
Slide 6: Consolidated Financial Results
Consolidated Financial Results For the periods ended December 31, (Presented In thousands, excep per share dato) (First Quarter 2023 Twelve Months Ended | [2022 T2021 2022 | 2021 Operating revenues $ 33,282 $ 23,263]$ 94,184 $ 78,92 Operating expenses 27,738 17,885 79,102 64,345 Operating income 554
Slide 7: Consolidated Underlying Financial Results
Consolidated Underlying Financial Results For the periods ended December 31, (Presented in thousands, except per share data) [Three Months Ended Twelve Months Ended [2022 [2021 2022 | 2021, Consolidated Net Income (Loss) $ 3,256 $ 3,585 fF $ (32,061) 8,963 Non-cash Impairment, Net : 40,912 : [Underl
Slide 8: Roanoke Gas YTD CapEx
Roanoke Gas YTD CapEx $8.0© $A $7.0 $6.0 $5.0 5 $4.0 = $3.0 $2.0 $1.0 $0.0 $1.8 million or 31.3% increase RNG Project Expansion $1.2 Other Capital $2.2 SAVE Rider $2.5
Slide 9: 2023 Outlook
2023 Outlook L) Capital L) Rate Case L) eps L) RNG
Slide 10: 2023 CapEx Forecast
2023 CapEx Forecast SAVE Infrastructure Rider $ 6.8 Utility Maintenance 6.2 Customer Growth & ‘ 5.0 System Expansion RNG Facility 35 Total $21.5
Slide 11: Rate Case
Rate Case O Requested increase in revenue: $8.55 million * SAVE: $4.05 million * Net increase: $4.50 million Olmpact to Average Residential Customer * Increase $5.78/month (non-gas base rates) * With gas cost decline, Feb 1, 2023: net lower 19% O Rate year capital expenditures ($22 million) included
Slide 12: Earnings Per Share Analysis
Earnings Per Share Analysis $1.05 $1.01 $1.00 $0.95 $0.91 $0.90 =~ Implied Dividend Payout Ratio: 0.85 aa 86.8% 0.80 ‘ 90.8% $0.75 $0.70 = 2022 Underlying 2023 Forecast Ea HEPS Range
Slide 13: Roanoke Gas RNG Facility
Roanoke Gas RNG Facility RAC application update QO Commission approval January 2023 OQ Customer billing March 2023 O) In-service March 2023 QO $7.7 million rate base, enhanced ROE “Roanoke Gas's project has the potential to achieve a rare combination of increasing local fuel supply, reducing greenho
Slide 14: MC CSOUICES
Go” MC CSOUICES ——