Skip to content
AnalystLens

ATMOS ENERGY CORP 8-K Report, Financial Results (Feb 6, 2024)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed February 6, 2024
Period End
February 6, 2024
Security
ATO
In the record · 2016–202610-K1010-Q338-K133

ATO filed 10 annual reports (10-K), 33 quarterly reports (10-Q) and 133 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Aug ’17Aug ’17
  2. Leadership change8-K · Mar ’20Mar ’20
  3. Material agreement8-K · Oct ’22Oct ’22
  4. Material agreement8-K · Oct ’26Oct ’26

01—Abstract

Summary

Summary of the 8-K filed February 6, 2024. Cited figures are marked; the original filing is the authoritative source.

Atmos Energy (NYSE: ATO) reported fiscal 2024 first-quarter results (quarter ended December 31, 2023) in a news release furnished under Item 2.02 of this 8-K.

The company posted diluted earnings per share of $2.08a on net income of $311.3 million, and reaffirmed its fiscal 2024 EPS guidance of $6.45 to $6.65. Management also reiterated expectations for approximately $2.9 billion in fiscal 2024 capital expenditures, with about 82 percent of first-quarter spending directed at safety and reliability. Balance sheet and regulatory items were also highlighted.

The company reported 60.2% equity capitalization and $3.2 billionb in available liquidity, and implemented $161.9 million in annualized regulatory outcomes, including the settlement of the Atmos Pipeline - Texas general rate case. The Board raised the quarterly dividend 8.8% to $0.805 per share, implying an indicated annual dividend of $3.22 for fiscal 2024. CEO Kevin Akers reiterated a long-term target of six to eight percent annual EPS growth.

The filing is primarily a disclosure of earnings and an invitation to a February 7, 2024 analyst call. Because the information is furnished rather than filed, it is not subject to Section 18 liability. Investors should weigh the reaffirmed guidance, the dividend increase, and the rate case settlement against the usual regulatory, weather, and capital-intensity risks described in the forward-looking statements.

02—Key points

Key Highlights

  1. Q1 fiscal 2024 diluted EPS of $2.08 on net income of $311.3 million.
  2. Fiscal 2024 EPS guidance of $6.45 to $6.65 reaffirmed.
  3. Quarterly dividend increased 8.8% to $0.805 per share; indicated annual dividend of $3.22.
  4. Capital expenditures of $769.7 million in Q1, with about 82% focused on safety and reliability; fiscal 2024 capex expected near $2.9 billion.
  5. $161.9 million in annualized regulatory outcomes implemented, including settlement of the Atmos Pipeline - Texas general rate case.
  6. Strong liquidity and balance sheet: 60.2% equity capitalization and $3.2 billion in available liquidity.
  7. Management reiterated expected annual EPS growth of six to eight percent.

03—Questions

Frequently Asked Questions

  1. Did Atmos Energy change its full-year earnings outlook?

    No. The company affirmed its fiscal 2024 diluted EPS guidance of $6.45 to $6.65 and expected capital expenditures of approximately $2.9 billion.

  2. How much is the dividend going up?

    The Board increased the quarterly dividend by 8.8% to $0.805 per common share, which implies an indicated annual dividend of $3.22 for fiscal 2024.

  3. What drove the regulatory benefit this quarter?

    The company implemented $161.9 million in annualized regulatory outcomes, including the settlement of the general rate case for Atmos Pipeline - Texas.

  4. Where is the company spending its capital?

    Of the $769.7 million invested in the first quarter, approximately 82% was focused on safety and reliability, consistent with its strategy to modernize its distribution, transmission, and storage systems.

  5. When and how can investors hear management discuss the results?

    Management will hold a conference call on Wednesday, February 7, 2024 at 9:00 a.m. Eastern Time, webcast live on the company's investor website, with a playback available later that day.

04—Continue

← View all 8-K filings