RGC Resources Inc. (RGCO) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and thank you for joining us as we discuss RGC Resources 2025 Second Quarter Results. I am Tommy Oliver, Senior Vice President, Regulatory and External Affairs for RGC Resources, Inc. I am joined this morning by Paul Nestor, our President and CEO, and Tim Mulvaney, our VP, Treasurer, and Chief Financial Officer. Before we get started, I want to review a few administrative items. We have muted all lines and ask that all participants remain muted. Second, the link to today's presentation is available on the investor and financial information page of our website at www.rgcresources.com. And lastly, at the conclusion of the presentation, in our remarks, we will take questions. Let's move to slide one. This presentation contains forecasts and projections. Slide one has information about risks and uncertainties, including forward-looking statements that should be understood in the context of our public filings. So slide two contains our agenda. We will discuss our operational and financial highlights for the second quarter of our 2025 fiscal year. We will then review our outlook for the rest of the 2025 fiscal year with time allotted for questions at the end. Turning now to operations on slide three, Main extensions and renewal activity for the first half of fiscal 2025 were strong. We installed 2.7 main miles, which is higher than the total main miles installed in the full 2024 fiscal year. We also connected 359 new services in the first six months of the fiscal year as residential development in the region was robust. In addition, we renewed 1.9 miles of main, and 159 services during the first half of the 2025 fiscal year. While this is down from a year ago, it demonstrates our continued investment in our system to enhance safety and reliability for our cus...