RGCO - Earnings call transcript Q4 2018

Due to licensing restrictions, you must log in to view earnings call transcripts.

John D'Orazio

Alright. Welcome to RGC Resources Fourth Quarter Earnings Call. I am John D'Orazio, President and CEO of RGC Resources. Thank you for taking the time out of your day to attend. Please mute your line and hold your questions until the completion of the presentation. today’s the available page. Investor to at our link on rgcresources.com and the presentation on is website Also Financial Information

we reminder on a begin, statements Before shown as on Slide forward-looking X. just

highlights, X, we take review and XXXX Moving to our plan for Slide outlook questions. key to operational financial any and

over per are a and year are which is as per fourth earnings on Slide Our share share quarter shown or XXXX. XX% improvement $X.XX earnings fiscal $X.XX X XXXX $X.XX,

and year presentation. quarter financial We results the will fourth cover in end later more

fourth As Approximately The million system Slide was the X spending spending. in quarter-to-quarter to spent elevated a highlights, $X.X year-to-date projects X year. a reinforcement replacement, due increase million million we on million $X.X invested customer regulated $X.X needs. and utility primarily on growth, $X.X infrastructure in quarter, last on customer over increase million capital $X.X shows growth. supporting was same Slide period the capital on other

$X.X million primarily supporting are system due customer growth. We projects and replacement ahead reinforcement approximately infrastructure to XXXX of

our fiscal X% X% We of On and usage commercial increased year steady XX% volumes approximately top compared increased growth to on the On year-to-date customer XXX as have our period in X%. the our in last We increased in quarter quarter volumes the fourth XXX X. and customers XX customers year. compared industrial our the X, same period Slide last significance same customers’ to Slide commercial experience added the X, added increased continue Slide fourth shown total to volumes and year. and

of fourth a or MVP targeted quarter Valley XXXX. We are in-service under is Pipeline on construction Slide Mountain with the date X.

FERC project. you the be $XX is was service MVP we filing XXXX. projected Southgate end million recall, During The to completed announced was in approximately the fiscal in November in of MVP And April. invested XXXX. as the Southgate expansion in may XXXX, at

and Officer, the quarter Chief introduce Nester, fourth financial to Now, I’d he Paul and will fiscal our Financial like results. XXXX review

Paul Nester

John. you, Thank

we are those For of you XX. Slide along on webcast, via following

by is customer essentially will the to increases quarter and rider fourth revenue, SAVE Fourth industrial results. and experienced XXXX. $XXX,XXX in volume. operating We income We or flat growth, begin infrastructure reviewing quarter replacement approximately

were due $XXX,XXX approximately rate refund tax investment $XXX,XXX our to XXXX increases Mountain increasing by Equity pre-tax project. tax operating income sharing Pipeline over increased offset is earnings and these quarter the favorable for reform. of However, income the Other fourth quarter to the the Valley year reform, was $XXX,XXX to prior related expense impact compared in when due investment $XXX,XXX the the lower revenue fourth to tax Due expenses. to miscellaneous favorable. in

adjustment. slightly our approximately is the Let’s increased increases the this reform year SAVE in move rider due million fiscal $X.XX on full Without below million results. to income tax customer income industrial the prior volume. to $X.XX growth, due and operating adjustment, primarily year Operating the revenue, to

approximately the John $XXX,XXX will million increased higher gas As XXXX XXXX Fiscal costs the $X or full increased on $XXX,XXX the and Interest year. Valley borrowing outlook. income flat expenses fiscal XXXX. on Mountain increased over rates. in in excluding Equity earnings planned, XX%. operating now Pipeline expense net to XXXX higher provide remained year

John D'Orazio

Paul. you, Thank

projections. invest expenditure capital our million. review $XX XXXX, Let’s In to plan fiscal approximately we

with in rate in October. Gas filed The invested be case million $XX million customer replacement XX, its Slide $XX remaining on will Valley invested case Pipeline. rate reform, case the XXXX. and of cost the since under and surcharges and base the infrastructure impacts focus highlighted is rates our growth. rider early Proposed on is The general be first Roanoke As tax infrastructure in Roanoke Mountain incorporates Gas rates commission of This service will currently review. in X. updates January Embed’s rate It base. will begin

fiscal We $X.X to to prepared now per our That share. take guidance like range concludes remarks. XXXX our share the Finally, would audience. per $X any is earning questions from

RGC Resources (RGCO) 4 Dec 182018 Q4 Earnings call transcript