Core Insights - Momentum investing focuses on following a stock's recent price trends, with the aim of buying high and selling higher, capitalizing on established price movements [1] - The Zacks Momentum Style Score helps investors identify stocks with strong momentum, addressing the challenges of defining momentum in stocks [2] Company Overview: Atmos Energy (ATO) - Atmos Energy currently holds a Momentum Style Score of B, indicating potential for solid momentum [3] - The company has a Zacks Rank of 2 (Buy), suggesting it is positioned for outperformance in the market [4] Performance Metrics - Over the past week, ATO shares increased by 3.56%, outperforming the Zacks Utility - Gas Distribution industry, which rose by 3.28% [7] - In the last month, ATO's price change was 7.03%, compared to the industry's 5.64% [7] - ATO shares have risen by 14.02% over the past quarter and 33.63% over the last year, significantly outperforming the S&P 500, which increased by 7.52% and 33.61% respectively [8] Trading Volume - ATO's average 20-day trading volume is 940,247 shares, which serves as a bullish indicator when combined with rising stock prices [9] Earnings Outlook - In the past two months, four earnings estimates for ATO have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $7.10 to $7.17 [11] - For the next fiscal year, two estimates have also moved upwards, indicating positive sentiment [11] Conclusion - Given the strong performance metrics and positive earnings outlook, ATO is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a compelling option for investors seeking momentum picks [12]

Part I [Business](index=5&type=section&id=Item%201.%20Business) Atmos Energy is the largest natural gas-only distributor in the U.S., serving over 3.3 million customers across eight states, focusing on infrastructure modernization and regulatory lag reduction - Atmos Energy is the largest natural gas-only distributor in the U.S. by customer count, serving over **3.3 million customers** in eight states[17](index=17&type=chunk) - The company operates through two reportable segments: the distribution segment (regulated gas distribution in eight states) and the pipeline and storage segment (regulated pipeline and storage operations, primarily in Texas and Louisiana)[18](index=18&type=chunk) - As of September 30, 2024, the company held **1,026 non-exclusive franchise agreements** with terms generally ranging from five to 35 years[21](index=21&type=chunk) - The company's strategy focuses on modernizing infrastructure and reducing regulatory lag, enabling recovery of approximately **90% of capital expenditures within six months** and substantially all within twelve months[17](index=17&type=chunk)[27](index=27&type=chunk) - As of September 30, 2024, the company had **5,260 employees**, none of whom are covered by a collective bargaining agreement[48](index=48&type=chunk) [Operating Segments and Overview](index=5&type=section&id=Item%201.%20Business.Operating%20Segments) The company's operations are divided into two primary segments: Distribution, serving over 3.3 million customers, and Pipeline and Storage, primarily the Atmos Pipeline-Texas (APT) division, one of Texas's largest intrastate pipeline systems Distribution Divisions Key Information (as of Sep 30, 2024) | Division | Service Areas | Communities Served | Customer Meters | | :--- | :--- | :--- | :--- | | Mid-Tex | Texas, including the Dallas/Fort Worth Metroplex | 550 | 1,804,265 | | Kentucky/Mid-States | Kentucky, Tennessee, Virginia | 220 | 361,873 (total) | | Louisiana | Louisiana | 270 | 360,870 | | West Texas | Amarillo, Lubbock, Midland | 80 | 314,503 | | Mississippi | Mississippi | 110 | 251,147 | | Colorado-Kansas | Colorado, Kansas | 170 | 269,162 (total) | - The Pipeline and Storage segment, primarily through its APT division, provides transportation and storage services to the company's Mid-Tex Division and third parties, including industrial and electric generation customers[24](index=24&type=chunk) - The company's peak-day natural gas supply availability is estimated at **5.3 Bcf**, while the peak-day demand in fiscal 2024 was approximately **4.3 Bcf** on January 15, 2024[23](index=23&type=chunk) [Ratemaking Activity](index=7&type=section&id=Item%201.%20Business.Ratemaking%20Activity) The company's ratemaking strategy minimizes regulatory lag through annual formula rate adjustments, infrastructure programs, and Weather Normalization Adjustment mechanisms, resulting in a **$376.3 million** increase in annual operating income in fiscal 2024 Annualized Ratemaking Outcomes (in thousands) | Fiscal Year | Annual Increase in Operating Income | EDIT Impact | Annual Increase Excluding EDIT | | :--- | :--- | :--- | :--- | | **2024** | $376,250 | $(69,174) | $307,076 | | **2023** | $263,084 | $5,692 | $268,776 | | **2022** | $174,922 | $40,628 | $215,550 | - As of September 30, 2024, the company had pending ratemaking efforts seeking a total of **$218.0 million** in additional annual operating income[34](index=34&type=chunk) - The company has infrastructure programs in all its states, allowing for annual rate adjustments for qualifying capital expenditures, helping recover approximately **90% of capital expenditures within six months**[27](index=27&type=chunk) - Weather Normalization Adjustment (WNA) mechanisms are in place in seven states, minimizing weather-related effects on about **97% of distribution residential and commercial revenues**[27](index=27&type=chunk) [Competition](index=14&type=section&id=Item%201.%20Business.Competition) Atmos Energy's regulated distribution operations face competition from alternative energy sources like electricity, while its pipeline and storage segment competes with other intrastate pipelines - The primary competitor for residential and commercial customers is electricity, especially for space heating, water heating, and cooking[47](index=47&type=chunk) - The pipeline and storage operations face increasing competition from other existing and newly completed intrastate pipelines[47](index=47&type=chunk) [Risk Factors](index=15&type=section&id=Item%201A.%20Risk%20Factors) The company faces diverse risks including regulatory lag, operational hazards, cybersecurity threats, climate-related impacts, and financial vulnerabilities due to capital intensity and credit market reliance - Regulatory risks include the potential for increased "regulatory lag," where assets are placed in service before rates are adjusted, and the risk that regulators may disallow recovery of certain costs[55](index=55&type=chunk) - Operational risks include hazards inherent in transporting and storing natural gas, such as leaks and explosions, which could lead to significant legal liability and repair costs not fully covered by insurance[60](index=60&type=chunk) - Technology and cybersecurity risks involve potential disruption from system failures or cyber-attacks, which could impact the ability to deliver gas safely and lead to the unauthorized release of sensitive data[65](index=65&type=chunk) - Climate-related risks include adverse weather affecting operations and potential legislation to limit greenhouse gas emissions, which could increase operating costs or reduce demand for natural gas[66](index=66&type=chunk)[68](index=68&type=chunk) - Financial risks stem from the capital-intensive nature of the business, dependence on access to credit markets, and exposure to economic conditions in Texas, where approximately **75% of consolidated operations** are located[69](index=69&type=chunk)[70](index=70&type=chunk)[71](index=71&type=chunk) [Unresolved Staff Comments](index=20&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) This item is not applicable [Cybersecurity](index=20&type=section&id=Item%201C.%20Cybersecurity) Atmos Energy manages cybersecurity risk through a NIST-aligned program with continuous monitoring and incident response, overseen by the CIO and Board's Audit Committee, with no material incidents reported - The company's cybersecurity program is based on the National Institute of Standards and Technology (NIST) Cybersecurity Framework[77](index=77&type=chunk) - Cybersecurity governance is led by the Vice President and Chief Information Officer (CIO), with oversight from the Audit Committee of the Board of Directors[80](index=80&type=chunk) - The company has not had any material cybersecurity breaches or incidents and has not incurred any material related expenses[76](index=76&type=chunk) [Properties](index=22&type=section&id=Item%202.%20Properties) As of September 30, 2024, Atmos Energy owned **74,596 miles** of distribution and transmission mains and **5,682 miles** of gas transmission lines, along with significant owned and contracted underground natural gas storage capacity - The company owns **74,596 miles** of underground distribution and transmission mains and **5,682 miles** of gas transmission lines[82](index=82&type=chunk) Owned Underground Gas Storage Capacity (as of Sep 30, 2024) | Segment | Working Capacity (Mcf) | Total Capacity (Mcf) | Max Daily Delivery (Mcf) | | :--- | :--- | :--- | :--- | | Distribution | 13,103,562 | 27,408,762 | 207,796 | | Pipeline and Storage | 53,494,589 | 73,429,514 | 2,516,000 | | **Total** | **66,598,151** | **100,838,276** | **2,723,796** | Contracted Storage Capacity (as of Sep 30, 2024) | Segment | Maximum Storage Quantity (MMBtu) | Maximum Daily Withdrawal (Mcf) | | :--- | :--- | :--- | | Distribution | 35,413,242 | 1,210,541 | | Pipeline and Storage | 1,500,000 | 71,250 | | **Total** | **36,913,242** | **1,281,791** | [Legal Proceedings](index=23&type=section&id=Item%203.%20Legal%20Proceedings) The company is involved in various legal and regulatory proceedings, including an NTSB investigation into two incidents in Jackson, Mississippi, but management believes outcomes will not materially affect financial condition - The National Transportation Safety Board (NTSB) is investigating two incidents that occurred in Jackson, Mississippi in January 2024, which resulted in one fatality; Atmos Energy is cooperating with the investigation[300](index=300&type=chunk) [Mine Safety Disclosures](index=23&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=23&type=section&id=Item%205.%20Market%20for%20Registrant's%20Common%20Equity,%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) Atmos Energy's common stock trades on the NYSE under ATO, declared **$3.22 per share** in dividends in fiscal 2024, and achieved a five-year cumulative total return of **138.10%** as of September 30, 2024 Dividends Declared Per Share | Quarter Ended | Fiscal 2024 | Fiscal 2023 | | :--- | :--- | :--- | | December 31 | $0.805 | $0.740 | | March 31 | $0.805 | $0.740 | | June 30 | $0.805 | $0.740 | | September 30 | $0.805 | $0.740 | | **Total** | **$3.22** | **$2.96** | Comparison of Five-Year Cumulative Total Return | Company/Index | 9/30/2019 | 9/30/2024 | | :--- | :--- | :--- | | Atmos Energy Corporation | $100.00 | $138.10 | | S&P 500 Stock Index | $100.00 | $209.84 | | S&P 500 Utilities Stock Index | $100.00 | $146.87 | - As of September 30, 2024, there were **737,219 securities** to be issued upon exercise of outstanding rights under equity compensation plans, with **407,966 securities** remaining available for future issuance[96](index=96&type=chunk) [Reserved](index=25&type=section&id=Item%206.%20Reserved) This item is reserved [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=25&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) In fiscal 2024, net income increased **17.7% to $1,042.9 million** due to positive rate outcomes, with **$2.9 billion** in capital expenditures, strong liquidity of **$4.8 billion**, and a **61.0%** equity capitalization Consolidated Net Income by Segment (in millions) | Segment | FY 2024 | FY 2023 | FY 2022 | | :--- | :--- | :--- | :--- | | Distribution | $671.4 | $580.4 | $522.0 | | Pipeline and storage | $371.5 | $305.5 | $252.4 | | **Total Net Income** | **$1,042.9** | **$885.9** | **$774.4** | - Fiscal 2024 net income increased by **$157.0 million** year-over-year, primarily due to positive rate outcomes from safety and reliability spending[107](index=107&type=chunk) - Capital expenditures for fiscal 2024 totaled **$2.9 billion**, with approximately **83%** invested in improving the safety and reliability of distribution and transportation systems[107](index=107&type=chunk) [Critical Accounting Policies](index=26&type=section&id=Item%207.%20MD%26A.Critical%20Accounting%20Policies) Critical accounting policies involve significant estimates for Regulation, deferring costs as regulatory assets based on recovery probability, and Pension and other postretirement plans, determined actuarially with sensitive assumptions - Regulation: The company's accounting for its rate-regulated operations allows for the capitalization or deferral of certain costs as regulatory assets, based on the probability of their recovery through future customer rates; discontinuation could significantly increase operating expenses[102](index=102&type=chunk) - Pension and Postretirement Plans: Costs and liabilities are determined actuarially and are highly sensitive to assumptions such as the discount rate and the expected long-term rate of return on plan assets; these assumptions are reviewed annually[104](index=104&type=chunk) [Results of Operations](index=27&type=section&id=Item%207.%20MD%26A.Results%20of%20Operations) Consolidated operating income increased to **$1,355.4 million** in fiscal 2024, driven by a **23.4%** increase in Distribution segment operating income and a **33.8%** increase in Pipeline and Storage segment operating income due to rate adjustments and through-system activities Distribution Segment Operating Income by Division (in thousands) | Division | FY 2024 | FY 2023 | Change | | :--- | :--- | :--- | :--- | | Mid-Tex | $464,616 | $345,545 | $119,071 | | Kentucky/Mid-States | $90,601 | $87,258 | $3,343 | | Louisiana | $94,362 | $80,942 | $13,420 | | West Texas | $72,929 | $62,351 | $10,578 | | Mississippi | $97,512 | $78,517 | $18,995 | | Colorado-Kansas | $42,816 | $40,674 | $2,142 | | **Total** | **$854,434** | **$692,626** | **$161,808** | Pipeline and Storage Segment Financial Highlights (in thousands) | Metric | FY 2024 | FY 2023 | Change | | :--- | :--- | :--- | :--- | | Total operating revenues | $938,029 | $785,174 | $152,855 | | Operating income | $500,928 | $374,521 | $126,407 | | Net income | $371,482 | $305,465 | $66,017 | [Liquidity and Capital Resources](index=32&type=section&id=Item%207.%20MD%26A.Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity with **$1.7 billion** cash from operations and **$19.9 billion** total capitalization, supported by investment-grade credit ratings and compliance with debt covenants Capitalization (as of Sep 30) | Component | 2024 (in thousands) | 2024 % | 2023 (in thousands) | 2023 % | | :--- | :--- | :--- | :--- | :--- | | Short-term debt | $ - | 0.0% | $241,933 | 1.4% | | Long-term debt | $7,785,297 | 39.0% | $6,555,701 | 37.1% | | Shareholders' equity | $12,157,669 | 61.0% | $10,870,064 | 61.5% | | **Total capitalization** | **$19,942,966** | **100.0%** | **$17,667,698** | **100.0%** | Cash Flow Summary (in millions) | Activity | FY 2024 | FY 2023 | | :--- | :--- | :--- | | Operating activities | $1,733.7 | $3,459.7 | | Investing activities | $(2,922.8) | $(2,795.3) | | Financing activities | $1,478.6 | $(696.8) | - The decrease in cash from operating activities from **$3.5 billion** in FY2023 to **$1.7 billion** in FY2024 is primarily because FY2023 included a **$2.02 billion** cash inflow from the conclusion of Texas securitization proceedings related to Winter Storm Uri[123](index=123&type=chunk) - The company maintains investment-grade credit ratings: **A- (Stable)** from S&P and **A1 (Negative)** from Moody's[128](index=128&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=36&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company manages commodity price risk through purchased gas cost adjustment mechanisms and assesses interest rate risk, with a hypothetical 1% increase in short-term rates having no material impact in fiscal 2024 - Commodity price risk for distribution operations is limited as substantially all purchased gas costs are recovered from customers through purchased gas cost adjustment mechanisms[140](index=140&type=chunk) - A sensitivity analysis showed that a hypothetical **1% average increase** in interest rates on short-term borrowings would not have materially increased interest expense in fiscal 2024[141](index=141&type=chunk) [Financial Statements and Supplementary Data](index=37&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents the company's audited consolidated financial statements for fiscal year 2024, with an unqualified auditor's opinion from Ernst & Young LLP, highlighting Regulation as a critical audit matter - The independent auditor, Ernst & Young LLP, issued an unqualified opinion on the consolidated financial statements[146](index=146&type=chunk) - The auditor identified 'Regulation' as a Critical Audit Matter, citing the complexity and subjective judgments required for accounting for regulatory assets and liabilities in a rate-regulated entity[150](index=150&type=chunk)[152](index=152&type=chunk) [Consolidated Financial Statements](index=39&type=section&id=Item%208.%20Financial%20Statements.Consolidated%20Financial%20Statements) The consolidated financial statements show total assets grew to **$25.2 billion** in 2024, with net income of **$1,042.9 million** and shareholders' equity increasing to **$12.2 billion** Consolidated Balance Sheet Highlights (in millions) | Account | Sep 30, 2024 | Sep 30, 2023 | | :--- | :--- | :--- | | Net property, plant and equipment | $22,204.4 | $19,606.6 | | Total Assets | $25,194.5 | $22,517.0 | | Long-term debt | $7,783.6 | $6,554.1 | | Shareholders' equity | $12,157.7 | $10,870.1 | | Total Capitalization and Liabilities | $25,194.5 | $22,517.0 | Consolidated Statement of Comprehensive Income Highlights (in millions) | Account | FY 2024 | FY 2023 | FY 2022 | | :--- | :--- | :--- | :--- | | Total operating revenues | $4,165.2 | $4,275.4 | $4,201.7 | | Operating income | $1,355.4 | $1,067.1 | $921.0 | | Net income | $1,042.9 | $885.9 | $774.4 | | Diluted net income per share | $6.83 | $6.10 | $5.60 | [Notes to Consolidated Financial Statements](index=45&type=section&id=Item%208.%20Financial%20Statements.Notes%20to%20Consolidated%20Financial%20Statements) Notes detail accounting policies, including **$579.4 million** in regulatory assets, **$1,227.9 million** in regulatory liabilities, **$7.8 billion** in long-term debt, and an overfunded pension plan of **$124.3 million** - Regulatory assets totaled **$579.4 million** and regulatory liabilities were **$1,227.9 million** as of September 30, 2024, reflecting the impact of rate regulation on accounting[193](index=193&type=chunk) - As of September 30, 2024, the company had **$7.8 billion** in long-term debt outstanding, excluding finance leases[220](index=220&type=chunk) - The company's main employee pension plan was overfunded with a funded status of **$124.3 million** as of September 30, 2024[244](index=244&type=chunk) - The company uses forward starting interest rate swaps to hedge anticipated debt issuances; as of September 30, 2024, it had swaps in place to hedge **$300 million** of planned debt for fiscal 2026[313](index=313&type=chunk) [Changes in and Disagreements With Accountants on Accounting and Financial Disclosure](index=87&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20With%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) This item reports no changes in or disagreements with accountants on accounting and financial disclosure [Controls and Procedures](index=87&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management and the independent auditor concluded that the company's disclosure controls and internal control over financial reporting were effective as of September 30, 2024, with no material changes during the quarter - Management concluded that the company's disclosure controls and procedures were effective as of September 30, 2024[332](index=332&type=chunk) - Management and the independent auditor, Ernst & Young LLP, both concluded that the company's internal control over financial reporting was effective as of September 30, 2024[333](index=333&type=chunk)[336](index=336&type=chunk) [Other Information](index=89&type=section&id=Item%209B.%20Other%20Information) No director or officer adopted or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during the fourth quarter of fiscal 2024 [Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](index=89&type=section&id=Item%209C.%20Disclosure%20Regarding%20Foreign%20Jurisdictions%20that%20Prevent%20Inspections) This item is not applicable Part III [Directors, Executive Officers and Corporate Governance](index=89&type=section&id=Item%2010.%20Directors,%20Executive%20Officers%20and%20Corporate%20Governance) Information on directors and corporate governance is incorporated by reference from the upcoming proxy statement, with executive officer biographies provided, and the company maintaining a Code of Conduct and Insider Trading Policy - Information regarding directors, the audit committee, and the audit committee financial expert is incorporated by reference from the Definitive Proxy Statement for the Annual Meeting of Shareholders on February 5, 2025[349](index=349&type=chunk)[353](index=353&type=chunk) Executive Officers (as of Sep 30, 2024) | Name | Age | Years of Service | Office Currently Held | | :--- | :--- | :--- | :--- | | John K. Akers | 61 | 33 | President, Chief Executive Officer and Director | | Christopher T. Forsythe | 53 | 21 | Senior Vice President and Chief Financial Officer | | John S. McDill | 60 | 37 | Senior Vice President, Utility Operations | | Karen E. Hartsfield | 54 | 9 | Senior Vice President, General Counsel and Corporate Secretary | | John M. Robbins | 54 | 11 | Senior Vice President, Human Resources | [Executive Compensation](index=90&type=section&id=Item%2011.%20Executive%20Compensation) Information on executive and director compensation is incorporated by reference from the company's Definitive Proxy Statement for the Annual Meeting of Shareholders on February 5, 2025 [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=90&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Information on security ownership of beneficial owners and management is incorporated by reference from the company's Definitive Proxy Statement, with equity compensation plan details in Part II, Item 5 [Certain Relationships and Related Transactions, and Director Independence](index=90&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions,%20and%20Director%20Independence) Information on certain relationships, related transactions, and director independence is incorporated by reference from the company's Definitive Proxy Statement for the Annual Meeting of Shareholders on February 5, 2025 [Principal Accountant Fees and Services](index=90&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services) Information on principal accountant fees and services is incorporated by reference from the company's Definitive Proxy Statement for the Annual Meeting of Shareholders on February 5, 2025 Part IV [Exhibits and Financial Statement Schedules](index=90&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists financial statements included in Item 8 and exhibits filed as part of the Form 10-K, with financial statement schedules omitted as not applicable or included elsewhere [Form 10-K Summary](index=95&type=section&id=Item%2016.%20Form%2010-K%20Summary) This item is not applicable

Dallas, TX, Nov. 11, 2024 (GLOBE NEWSWIRE) -- The North Texas Food Bank (NTFB) announced a substantial $100,000 donation from Atmos Energy Corporation, the nation’s largest natural gas-only distributor headquartered in Dallas. This contribution is part of a broader $2 million commitment made by Atmos Energy to food banks across eight states during Hunger Action Month in September, aligned with its Fueling Safe and Thriving Communities initiative. Since 2006, Atmos Energy has steadfastly supported the NTFB, ...

Financial Data and Key Metrics Changes - The company reported earnings per share (EPS) of $6.83, representing a 12% increase over fiscal '23, marking the 22nd consecutive year of EPS growth [8][20] - Fiscal '24 capital investment exceeded $2.9 billion, with a 5% increase or $131 million compared to the previous year, primarily focused on safety and reliability improvements [9][24] - Consolidated operating and maintenance (O&M) expenses, excluding bad debt, increased by $65 million, driven by higher employee-related costs and increased operational activities [23] Business Line Data and Key Metrics Changes - The Distribution segment saw strong customer growth, adding over 59,000 new residential and commercial customers, with nearly 3,500 new commercial customers, a 19% increase year-over-year [10][12] - The Pipeline & Storage segment experienced a decrease in capital spending by about $191 million, primarily due to the timing of cash payments for completed safety and reliability work [25] Market Data and Key Metrics Changes - The housing market in the DFW Metroplex remains robust, with new home closings reaching a record high, reflecting a nearly 1% increase over the prior year [11] - Texas added approximately 327,000 jobs from September 2023 to September 2024, continuing to outpace national job growth [11] Company Strategy and Development Direction - The company plans to invest approximately $24 billion over the next five years, focusing on system modernization and safety, with over 80% of the investment dedicated to safety and reliability [16][29] - The strategy includes maintaining a strong balance sheet through a mix of equity and long-term debt financing, with a target of 6% to 8% annual EPS growth [27][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term outlook, citing strong operational and financial performance in fiscal '24 as a foundation for sustained success [41] - The company anticipates continued robust demand for natural gas driven by economic growth in its service territories [15][18] Other Important Information - The company completed $1.2 billion of long-term financing, finishing the fiscal year with an equity capitalization of 61% and approximately $4.8 billion in available liquidity [25] - The Board of Directors approved an 8.1% increase in the annual dividend for fiscal '25, bringing it to $3.48 [26] Q&A Session Summary Question: Financing and Capital Program - The company plans to maintain a balance of equity and long-term debt to support its capital program, with an incremental $15 billion financing assumption over the next five years [45][46] Question: CapEx and System Investment - The higher pace of system investment is driven by robust customer growth and the need to meet anticipated winter demands, alongside risk models guiding pipe replacement [50][51] Question: EPS Growth vs. Rate Base Growth - The company maintains a conservative EPS growth outlook of 6% to 8%, despite higher rate base growth, due to various external factors and increased O&M costs [53][54] Question: Interest Costs and Debt Management - The company is comfortable with its current debt-to-capitalization ratio and will consider interest rate hedging to maintain cost stability [47] Question: Bad Debt Expense and Customer Growth - Bad debt expense is expected to normalize, with customer growth assumptions aligned with recent trends in Texas [71][72]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 November 6, 2024 Date of Report (Date of earliest event reported) ATMOS ENERGY CORPORATION (Exact Name of Registrant as Specified in its Charter) | --- | --- | --- | |----------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------- ...

Atmos Energy Corporation (ATO) is scheduled to release fourth-quarter fiscal 2024 results on Nov. 6, after market close. The company delivered an earnings surprise of 2.9% in the last reported quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.Key Factors That Might Have Impacted ATO's Q4 EarningsAtmos Energy continues to benefit from strategic investments and its focus on modernizing th ...

In its upcoming report, Atmos Energy (ATO) is predicted by Wall Street analysts to post quarterly earnings of $0.84 per share, reflecting an increase of 5% compared to the same period last year. Revenues are forecasted to be $830.65 million, representing a year-over-year increase of 41.4%.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during ...

Natural gas distribution companies offer services to transport natural gas from the region of production to millions of consumers across the United States. The utilities under the Zacks Utility Gas Distribution industry control miles of underground pipeline network to provide natural gas services to customers. The rising demand for clean, burning natural gas will create more opportunities for natural gas distribution companies.Atmos Energy Corporation (ATO) , with its widespread transmission and distributio ...

From my perspective, investing is all about quality and valuation. On the quality side, there are considerations, such as earnings growth consistency, dividend safety and growth, and balance sheet strength. For truly great businesses, the quality aspect ofHi, my name is Kody. Aside from my weekly articles here on Seeking Alpha, I am also a contributor to Sure Dividend, Dividend Kings, and iREIT+Hoya Capital. I have been investing since September 2017 and interested in dividend investing since about 2009.Sin ...

October generally remains volatile on Wall Street. This year, volatility has set in U.S. stock markets from the beginning of this month. October’s volatility is expected to persist due to better-than-expected job data for September, expectations of Fed rate cut in a gradual fashion rather than more aggressive way, jump in the yield of the benchmark 10-Year Treasury Note, intensified geopolitical conflict in the Middle East and the upcoming U.S. Presidential election on Nov. 5.At this stage, it will be fruit ...