Corning Natural Gas Holding Corporation Reports on Quarterly Earnings & Argo Merger Update

CORNING, N.Y., May 12, 2022 (GLOBE NEWSWIRE) -- Corning Natural Gas Holding Corporation (OTCQX:CNIG) announced consolidated earnings of $2,407,480 or $0.73 per share for its second quarter ended March 31, 2022. This compares to consolidated earnings of $2,269,001 or $0.69 per share for its second quarter ended March 31, 2021. Consolidated earnings for its 2022 fiscal year-to-date were $2,810,707, or $0.87 per share, versus $2,391,109, or $0.74 per share for the same period in 2021. CFO Charles Lenns stated, “The increase in Company earnings for both the second quarter and the 2022 fiscal year-to-date were due to colder weather in fiscal 2022 and the electric and gas rate increases at Pike County Light & Power. These gains were partially offset by losses on investment income and a loss associated with the disposition of property.”