Atmos Q1 2024 Earnings Report
Key Takeaways
Atmos Energy Corporation reported a strong first quarter for fiscal year 2024, with earnings per diluted share of $2.08 and net income of $311.3 million. The company reaffirmed its fiscal 2024 earnings per diluted share guidance in the range of $6.45 - $6.65.
Earnings per diluted share were $2.08 on net income of $311.3 million.
Capital expenditures totaled $769.7 million, with approximately 82% focused on safety and reliability.
The company maintained a strong financial profile with 60.2% equity capitalization and $3.2 billion in available liquidity.
Atmos Energy implemented $161.9 million in annualized regulatory outcomes, including the settlement of Atmos Pipeline – Texas' general rate case.
Atmos
Atmos
Forward Guidance
Atmos Energy reaffirmed its fiscal 2024 earnings per diluted share guidance in the range of $6.45 - $6.65 and expects capital expenditures to approximate $2.9 billion.
Positive Outlook
- Fiscal 2024 earnings per diluted share guidance reaffirmed in the range of $6.45 - $6.65.
- Fiscal 2024 capital expenditures are expected to approximate $2.9 billion.
- The company's Board of Directors increased the quarterly dividend 8.8% to $0.805 per common share.
- The indicated annual dividend for fiscal 2024 is $3.22.
- Company is focused on vision to be the safest provider of natural gas services, continuing to benefit customers and communities.
Challenges Ahead
- Risks relating to regulatory trends and decisions.
- The company’s ability to continue to access the credit and capital markets.
- Possible increased federal, state and local regulation of the safety of our operations.
- Possible significant costs and liabilities resulting from pipeline integrity and other similar programs and related repairs.
- The inherent hazards and risks involved in distributing, transporting and storing natural gas.