Atmos Q2 2024 Earnings Report
Key Takeaways
Atmos Energy reported strong results for the second quarter of fiscal year 2024, with earnings per diluted share of $4.93 on net income of $743.3 million. The company raised its fiscal 2024 earnings per diluted share guidance to $6.70 - $6.80 and increased capital expenditure guidance to approximately $3.1 billion.
Earnings per diluted share reached $4.93 on net income of $743.3 million.
Capital expenditures totaled $1,415.5 million, with approximately 81 percent focused on safety and reliability.
The company maintained a strong financial profile with 60.9% equity capitalization and $4.2 billion in available liquidity.
Implemented $165.4 million in annualized regulatory outcomes; $178.8 million in progress.
Atmos
Atmos
Forward Guidance
Atmos Energy raised its fiscal 2024 earnings per diluted share guidance to the range of $6.70 - $6.80 from $6.45 - $6.65 per diluted share. Fiscal 2024 capital expenditure guidance increased to approximately $3.1 billion.
Positive Outlook
- Fiscal 2024 earnings per diluted share guidance raised to the range of $6.70 - $6.80.
- Fiscal 2024 capital expenditure guidance increased to approximately $3.1 billion.
- The company's Board of Directors has declared a quarterly dividend of $0.805 per common share.
- The indicated annual dividend for fiscal 2024 is $3.22, which represents an 8.8% increase over fiscal 2023.
- Company's vision to be the safest provider of natural gas services.
Challenges Ahead
- Risks relating to regulatory trends and decisions.
- The company’s ability to continue to access the credit and capital markets.
- Increased federal regulatory oversight and potential penalties.
- 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.