Summary
Atmos Energy Corporation's fiscal year 2013 demonstrated solid performance, with net income increasing to $243.2 million, or $2.64 per diluted share, up from $216.7 million, or $2.37 per diluted share in fiscal year 2012. This growth was primarily driven by improvements in rate designs across its natural gas distribution and regulated transmission and storage segments, alongside colder weather that boosted natural gas distribution throughput by 2%. The company also strategically streamlined its operations by divesting its natural gas distribution operations in Georgia in April 2013, following similar sales in Missouri, Illinois, and Iowa in August 2012. Financially, Atmos Energy strengthened its balance sheet by amending its revolving credit agreement to increase borrowing capacity and extending its term, and issued $500 million in long-term senior notes. The company maintained its focus on infrastructure investment, with capital expenditures primarily directed towards safety and reliability improvements in its distribution and transportation systems. These efforts underscore a commitment to sustainable growth and shareholder value, supported by a stable regulatory environment and proactive management of operational and financial risks.
Financial Highlights
47 data points| Gross Profit | $1.41B |
| Operating Expenses | $910.17M |
| Operating Income | $501.88M |
| Interest Expense | $128.38M |
| Net Income | $243.19M |
| EPS (Basic) | $2.68 |
| EPS (Diluted) | $2.64 |
| Shares Outstanding (Basic) | 90.53M |
| Shares Outstanding (Diluted) | 91.71M |
Key Highlights
- 1Net income increased by 12% to $243.2 million ($2.64 per diluted share) in FY2013, compared to $216.7 million ($2.37 per diluted share) in FY2012.
- 2Divested Georgia natural gas distribution operations on April 1, 2013, as part of a strategy to streamline regulated operations.
- 3Completed 13 regulatory proceedings in FY2013, resulting in a $71.4 million increase in annual operating income, primarily from rate design changes in the Mid-Tex and West Texas divisions.
- 4Strengthened liquidity and borrowing capacity by amending its revolving credit agreement and issued $500 million in 4.15% 30-year unsecured senior notes.
- 5Capital expenditures for FY2013 were $845.0 million, with a significant portion allocated to improving the safety and reliability of its distribution and transportation systems.
- 6The regulated natural gas distribution segment accounted for approximately 65% of consolidated net income, while the regulated transmission and storage segment contributed approximately 30%.