Core Insights - Atmos Energy (ATO) reported fourth-quarter fiscal 2025 earnings of $1.07 per share, exceeding the Zacks Consensus Estimate of $1.01 by 5.9% and showing a 24.4% increase from the previous year's 86 cents [1][8] - For fiscal 2025, ATO's earnings per share were $7.46, with a net income of $1.2 billion [1] Financial Performance - Operating income for the fourth quarter was $219.5 million, up from $185 million in the same quarter last year [2] - Net income for the fourth quarter reached $175 million, compared to $134 million in the prior year [2] - Distribution segment net income was $55 million, a 34.1% increase from $41 million year-over-year [3] - Pipeline and Storage segment income was $120 million, reflecting a 29% increase from $93 million in the previous year [3] Rate Adjustments and Investments - New rates implemented in fiscal 2025 amounted to $333.6 million, with an additional $146.3 million in year-to-date fiscal 2026 [2][8] - ATO invested nearly $3.56 billion in fiscal 2025, with 87% allocated to enhancing the safety and reliability of its distribution and transportation systems [4] Future Guidance - ATO has provided fiscal 2026 earnings guidance in the range of $8.15-$8.45 per share, higher than the Zacks Consensus Estimate of $7.91 [5][8] - The company anticipates capital expenditures of $4.2 billion for fiscal 2026 [5] - A quarterly dividend of $1.00 per common share has been declared, indicating an annual dividend of $4.00, a 14.9% increase over fiscal 2025 [5] Long-term Strategy - ATO plans to invest $26 billion from fiscal 2026 to 2030 to further strengthen its existing operations [6]

Financial Data and Key Metrics Changes - The company reported diluted earnings per share of $7.46, marking the 23rd consecutive year of earnings per share growth and the 41st consecutive year of dividend growth [3][10] - Consolidated capital spending increased to $3.6 billion, with 87% dedicated to improving safety and reliability [10] - Rate base increased by 14% to an estimated $21 billion as of September 30 [10] Business Line Data and Key Metrics Changes - Approximately 57,000 residential customers were added during Fiscal 2025, with over 44,000 located in Texas [4] - Nearly 3,200 commercial customers and 29 industrial customers were added, with anticipated annual gas consumption of approximately 4 BCF from industrial customers [4] - Over the last five years, the company has added nearly 300,000 residential and commercial customers and 225 industrial customers, with an estimated annual load of 63 BCF when fully operational [4] Market Data and Key Metrics Changes - Texas added jobs at a faster rate than the nation, growing at a rate of 1.14% [5] - The current population estimate for the Texas metroplex is approximately 8.6 million, projected to be the third largest metropolitan area in the U.S. by 2030 [5] Company Strategy and Development Direction - The company plans to invest $26 billion over the next five years, with approximately 85% allocated to safety and reliability [7][14] - The five-year plan reflects the impact of Texas House Bill 4384, allowing for quicker capital recovery [8][15] - The company anticipates earnings per share growth of 6-8% from the midpoint of its rebased Fiscal 2026 guidance [8][13] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of safety, reliability, and modernization of natural gas systems to meet customer and community expectations [18][19] - The company maintains a strong balance sheet with a weighted average cost of debt of 4.2% and approximately $4.9 billion in liquidity [20] Other Important Information - The board of directors approved a 15% increase in the annual dividend to $4.00, reflecting the rebasing of the dividend to align with earnings per share growth [13][52] - The company expects to recover over 95% of its capital spending within six months due to the new legislation [8][15] Q&A Session Summary Question: Can you talk about the larger load customers and the Refresh Capital plan? - Management indicated that 85% of spending is dedicated to safety and reliability, with modest growth included in the plan [24] Question: Can you elaborate on capital recovery and its impact on growth? - Management stated that the capital recovery process has been part of their planning since 2011, focusing on safety, reliability, and growth needs [26] Question: How does the Texas House Bill 4384 impact your guidance? - The annual impact from the legislation was clarified, with a full-year impact expected to be reflected in the rebased guidance [46] Question: What is the expected split between debt and equity in the five-year plan? - Management indicated a balanced approach with roughly 50% of funding coming from equity and 50% from debt [47] Question: Will the 60/40 split of HB 4384 benefits change year over year? - Management confirmed that they do not expect significant changes to the split due to their consistent five-year planning process [50]

Financial Data and Key Metrics Changes - The company reported diluted earnings per share of $7.46, marking the 23rd consecutive year of earnings per share growth and the 41st consecutive year of dividend growth [3][10] - Consolidated capital spending increased to $3.6 billion, with 87% dedicated to improving safety and reliability [10] - Rate base increased by 14% to an estimated $21 billion as of September 30 [10] Business Line Data and Key Metrics Changes - Approximately 57,000 residential customers were added during fiscal 2025, with over 44,000 of those in Texas [4] - Nearly 3,200 commercial customers and 29 industrial customers were added, with anticipated annual consumption of approximately 4 BCF of gas from industrial customers [4] - Over the last five years, the company has added nearly 300,000 residential and commercial customers and 225 industrial customers, equivalent to nearly 1.2 million residential customers on a volumetric basis [4] Market Data and Key Metrics Changes - Texas added jobs at a faster rate than the nation, growing at a rate of 1.14% [5] - The current population estimate for the Dallas-Fort Worth metroplex is approximately 8.6 million, projected to be the third largest metropolitan area in the U.S. by 2030 [5] Company Strategy and Development Direction - The company plans to invest $26 billion over the next five years, with approximately 85% allocated to safety and reliability [7][14] - The five-year plan reflects the impact of Texas House Bill 4384, allowing for quicker recovery of capital spending [8][15] - The company anticipates earnings per share growth of 6%-8% from the midpoint of its rebased fiscal 2026 guidance [8][13] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of safety, reliability, and modernization of natural gas systems to meet customer and community expectations [18][20] - The company remains focused on maintaining a strong balance sheet and available liquidity, with $4.9 billion in liquidity [20] Other Important Information - The company completed integrity inspections for its Bethel Salt Dome Caverns and is working on further inspections [7] - The average monthly natural gas bill for residential customers is expected to remain the lowest utility bill in the home [20] Q&A Session Summary Question: Discussion on larger load customers and Refresh Capital plan - Management indicated that 85% of spending is dedicated to safety and reliability, with modest growth included in the plan [24] Question: Capital recovery and its impact on growth - Management stated that the capital recovery process has been consistent and is part of their long-term planning since 2011 [26] Question: EPS rebase and impact of Texas legislation - Management confirmed that the impact of House Bill 4384 is included in the rebased earnings per share guidance [46] Question: O&M budgeting for 2026 - Management explained that the O&M budget is consistent with previous years, with adjustments based on compliance and system monitoring needs [34] Question: Long-term gas price assumptions - Management noted that the long-term gas price assumptions are based on the forward curve and that residential gas bills are expected to remain competitive [41][42] Question: Dividend guidance and its sustainability - Management indicated that the dividend has been increased by 15% to align with rebased earnings per share guidance, with intentions to grow the dividend in line with earnings growth [52]

Financial Data and Key Metrics Changes - The company reported diluted earnings per share of $7.46, marking the 23rd consecutive year of earnings per share growth [3] - Fiscal 2025 also represents the 41st consecutive year of dividend growth [3] - Consolidated capital spending increased to $3.6 billion, with 87% dedicated to improving safety and reliability [11] - Rate base increased by 14% to an estimated $21 billion as of September 30 [11] Business Line Data and Key Metrics Changes - Approximately 57,000 residential customers were added during Fiscal 2025, with over 44,000 located in Texas [4] - Nearly 3,200 commercial customers and 29 industrial customers were added, with anticipated annual consumption of approximately 4 BCF of gas from industrial customers [4] - Over the last five years, nearly 300,000 residential and commercial customers were added, along with 225 industrial customers with an estimated annual load of 63 BCF when fully operational [4] Market Data and Key Metrics Changes - Texas added jobs at a faster rate than the nation, growing at a rate of 1.14% [5] - The current population estimate for the Dallas-Fort Worth metroplex is approximately 8.6 million, projected to be the third largest metropolitan area in the U.S. by 2030 [5] Company Strategy and Development Direction - The company plans to invest $26 billion over the next five years, with approximately 85% allocated to safety and reliability [8][14] - The five-year plan reflects the impact of Texas House Bill 4384, allowing for quicker recovery of capital spending [9][16] - The company anticipates earnings per share growth of 6-8% from the midpoint of its rebased Fiscal 2026 guidance [9][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to meet safety, reliability, and economic development expectations [19] - The company highlighted the importance of natural gas in economic development across its service territory [4][19] - Management noted that the average monthly natural gas bill for residential customers is expected to remain the lowest utility bill in the home [20] Other Important Information - The company completed integrity inspections and verification work on its storage facilities, with ongoing work expected to continue into late calendar year 2026 [8] - The company has a weighted average cost of debt of 4.2% with an average maturity of 17.5 years and approximately $4.9 billion in liquidity [20] Q&A Session Summary Question: Can you talk about the larger load customers and the Refresh Capital plan? - Management indicated that 85% of spending is dedicated to safety and reliability, with modest growth included in the plan [25] Question: Can you discuss capital recovery and its impact on growth? - Management stated that the planning process has been consistent since 2011, focusing on safety, reliability, and growth needs [27] Question: What is the annual impact of Texas HB 4384? - Management confirmed that the impact of House Bill 4384 is factored into the rebased earnings per share guidance [43] Question: How is the equity and debt funding structured for the five-year plan? - Management indicated a balanced approach with roughly 50% of annual cash needs coming from equity and 50% from debt [44][45] Question: Will the 60/40 split of HB 4384 benefits change year over year? - Management does not expect the split to change, as the five-year planning process is consistent [47]

Analyst Call to Review Fiscal 2025 Financial Results & Fiscal 2026 – 2030 Outlook November 6, 2025 10:00 a.m. Eastern Fiscal 2025 Review As of November 5, 2025 Page 2 Fiscal 2025 Financial Performance Fiscal 2025 Highlights • Executing Our Regulatory Strategy • Maintaining a Strong Financial Profile As of November 5, 2025 Page 3 • Consistent Track Record of Financial Performance • YTD Diluted EPS of $7.46; 23rd consecutive year of EPS growth • $3.6 billion in capital spending; 87% allocated to safety and re ...

Core Insights - Atos has been awarded a contract by the Madrid City Council for the evolution and maintenance of its Artificial Intelligence platform, aimed at enhancing municipal processes and services [1][2][9] Group 1: Project Goals and Implementation - The project aims to optimize administrative processes, improve municipal services, and provide citizens with more efficient and personalized services through generative AI [2] - The contract spans three years with an option for a one-year extension, covering corrective, adaptive, and evolutionary maintenance of the AI platform [3] - Atos will collaborate closely with the Madrid City Council to promote excellence in AI usage through various initiatives, including technological surveillance and specialized training [4] Group 2: New Use Cases and Applications - Atos is developing new use cases such as Clear Communication, which focuses on improving the clarity and accessibility of administrative texts for citizens [6][7] - Another application, Pipeline of Documentary Objects, automates the processing of audio, video, and text files, transforming them into structured information for easier access and contextual queries [8] Group 3: Company Overview - Atos Group is a global leader in digital transformation with approximately 67,000 employees and annual revenue of around €10 billion, operating in 61 countries [10] - The company is recognized as the European leader in cybersecurity, cloud, and high-performance computing, committed to providing AI-powered solutions across various industries [10][11]

Financial Results - Atmos Energy Corporation reported its financial results for the fourth quarter and full fiscal year 2025, ending September 30, 2025[5] - The financial results announcement was made via a news release on November 5, 2025[5] Conference Call - The conference call to discuss these results is scheduled for November 6, 2025, at 10 a.m. Eastern Time[5]

Core Viewpoint - Atmos Energy Corporation reported strong financial results for fiscal year 2025, with a focus on safety and reliability in its operations, and has raised its dividend for fiscal 2026 [2][5][11] Fiscal Year Highlights - Fiscal 2025 marked the 14th year of executing a strategy focused on safe and reliable operations while modernizing natural gas distribution, transmission, and storage systems [2] - Earnings per diluted share for fiscal 2025 were $7.46, with a net income of $1.2 billion [5] - Capital expenditures for the year totaled $3.6 billion, with approximately 87% dedicated to safety and reliability [5] - The company has a strong financial profile, with 60.3% equity capitalization and $4.9 billion in available liquidity [5] Dividend Information - The Board of Directors declared a quarterly dividend of $1.00 per common share, representing a 14.9% increase from the fiscal 2025 annual dividend of $3.48 [5][11] - The indicated annual dividend for fiscal 2026 is projected to be $4.00 [5][11] Fiscal 2026 Guidance - Earnings per diluted share guidance for fiscal 2026 is expected to be in the range of $8.15 to $8.35 [5] - Capital expenditure guidance for fiscal 2026 is approximately $4.2 billion [5] Upcoming Events - Atmos Energy will host a conference call on November 6, 2025, to discuss fiscal 2025 financial results and establish guidance for fiscal 2026 [3][12]

Core Insights - Atos Group achieved a score of 73 out of 100 in the 2025 S&P Global Corporate Sustainability Assessment, placing it in the top 7% of the IT Services industry [1][2] - This marks the 12th consecutive year that Atos Group has been recognized for its sustainability efforts by S&P Global, highlighting its commitment to ESG excellence [2] - The assessment identified Atos Group's strengths in Human Capital Management, Climate Strategy, and Corporate Governance, which are critical ESG drivers for the IT Services sector [3] Company Performance - Atos Group has maintained strong performance in sustainability reporting transparency, contributing to its high ranking in the assessment [3] - The company was awarded the Platinum EcoVadis Medal for the sixth consecutive year, further affirming its leadership in sustainability [5] Company Overview - Atos Group operates with approximately 67,000 employees and annual revenue of around €10 billion, providing services in 61 countries under the Atos and Eviden brands [5] - The company is recognized as the European leader in cybersecurity, cloud, and high-performance computing, with a commitment to a secure and decarbonized future [5][6]

Core Insights - Atos has inaugurated a new Modern Security Operations Center (MSOC) in Seville, enhancing its global network of interconnected Security Operations Centers (SOCs) and reinforcing its commitment to cybersecurity and technological innovation in Spain [1][3][6] Group 1: Cybersecurity Commitment - The new MSOC provides advanced cybersecurity services, including proactive monitoring, early detection of cyberattacks, analysis, response, and incident management, ensuring client trust [1][5] - The facility is designed to be adaptable and flexible to meet the specific needs of each client, featuring crisis rooms, continuous monitoring areas, cybersecurity labs for IT, OT, and IoT, and a dedicated cybersecurity training center [2][6] - Atos' MSOC is part of a global network, becoming the 18th facility worldwide, and demonstrates the company's commitment to digital security, innovation, and operational excellence [6][11] Group 2: Technological Advancements - The MSOC is developing a new cybersecurity ecosystem aimed at enhancing prediction, detection, and response capabilities against advanced threats, utilizing Atos-curated threat intelligence and AI-powered tools [7][8] - The integration of autonomous AI agents into SOC operations is expected to significantly improve analytical efficiency and real-time response capabilities to cyber threats [8][11] Group 3: Regional Impact - The inauguration was attended by Jorge Paradela, the Andalusian Minister of Industry, Energy and Mines, who emphasized the importance of consolidating an ecosystem that combines institutional strength, technical excellence, and private-sector innovation in Andalusia [4][6] - The center is seen as a step forward in establishing Andalusia as a national and international benchmark in digital protection and innovation, while fostering local talent and multiplying opportunities for innovation [4][6]