Thank discussion, have on you, our income consolidated of Slide To Randy. X. aid in we this included statements condensed
more Let’s of our results. start details quarter-to-quarter with
Operating XX-Q, recently in year. the to approximately same as $X.X in compared increase most rate. Primary prior $X.X was income XX% of increased our or current margin, the period million increased quarter; driver filed non-gas utility the in gas approximately defined million, base higher this
Our results from the first the which in we order later detail rate will in reflect final discuss quarter the case, presentation. more
Gas of million. of Roanoke Gas’ of cost infrastructure. The and and increase the required by expenses increased investment expense. gas the related in general depreciation final offset assets was The in margin net in expenses well as expense Total write-down in primarily to regulatory as increased Roanoke was higher as the approximately the of corporate higher regulatory increase $X.X insurance operating by amortization taxes order; premiums; driven by continued asset, SEC
resulted The capital primarily well taxable of year, current to taxes the due to as $XXX,XXX income. Roanoke in the related doubled funding XX% investment in Income continued by million the Mountain to to funding as projects. expense, non-cash Gas’ in continued in $X.X increased increase Increased the construction Valley of borrowings earnings equity increase approximately date. our spending increase borrowings MVP Pipeline interest investments, driven in the a
a required by approximately assets, write-down discussed total higher XXXX. lift mere in million. analysis, XX, quarter-to-quarter the as revenue in as general $X.X amortization taxes to well results case, offset depreciation months and of and from review XX let’s from expense. regulatory the rate Operating those including million the Primary expenses increases for both the increased Now, $XX.X December of ended income drivers
pipeline in in year. related growth tax of increased the earnings significant million the taxable XXXX XXXX. during Equity effects XX% in In MVP investment as XX% construction calendar to Income outpaced from income approximately for $X.X the XX, expense transitioning XXXX, to ended increased million period calendar or the federal of favorable all the to of $X.X factors company’s income, $X.X XX% the compared a the rate. million, same resulted year tax these combination, December in in income increase to net
on We will outlined of now the fiscal Slide our shift focus XXXX, remainder and outlook as the X. for discuss
provide First, that received like proceeding had thereby the we order since in Roanoke Virginia on pending October rate final Commission’s We on Gas XX, the specifics closing our the been further to XXXX. would we filed rate application gas. January
recent greater annual is $X.XX Commission The those of company’s national the return average. Virginia proceedings return case approved authorized rate on at on an in established X.XX%. total base and than in revenue equity increase This million and ROE rate exceeds equity requirement awards recent established on
The Commission the final firm analysis plans line.” for a to the capacity order provided acquire and the its MVP detailed the company loop to from construct the gate projects was stations of need for “that upon it’s the the connections stated prudent where to company’s and it pipeline, the
did construction the future in calls potential We recovery calls. revenue order second the and of the allow for the the related recovery the excluded deferral in-process these of the costs quarter. gate for anticipate of requirement financing adjusting stations, While
replacement focus XXXX, Roanoke growth. let’s $XX projections. on and fiscal Gas’ in utility and plan million to expenditure review Now customer continue the regulated approximately In invest infrastructure capital we to our
in Pipeline year. to Approximately period in the of quarter the subsidiary. pipeline this And was scheduled million Valley late first time, through investing $X Also, to $XX go Mountain XXXX, in approximately service million invested is XX% at Midstream anticipate RGC the in XXXX. is compared during The $XX same XXXX, MVP complete. our million in fiscal we last
authorized shareholders stock. common has amendment State Corporation The XXXX, Virginia an the to approved February to shares the X, number of Incorporation of amendment by Meeting on the been At our Articles Annual approved Commission. of increase
in week, earlier originally SEC this provide to actions filed These is to at The future with and After company raising equity available an earnings filed this our additional in approval pending. XXXX. Commission flexibility us statement our seeking company Securities of fiscal per share also August in time, $X.XX the XXXX registration current share. Exchange extend information per S-X $X.XX range the capital. shelf analyzing is the guidance to the
remarks. prepared That concludes our
in you six you question. If on have the a Again, if just any pound line has someone We’ll unmute to moment line. unmute dial stay your six question. please for a your questions, have case, a more, pound to hit just line
Thank to great good. said, Well, no first day. in our have fiscal quarter hope again May are the our have to quarter results. If with this call. there and you review very earnings We we forward we’re again, XXXX. a joining him to Like to on and I concludes a we pleased us, second us Randy look today, and for you, questions, look forward speaking great call have you with
