香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 （於開曼群島註冊成立之有限公司） （股份代號：444） 復牌情況的季度更新 及 繼續暫停買賣 本公告乃由Sincere Watch (Hong Kong) Limited（「本公司」，連 同 其 附 屬 公 司，統 稱 「本集團」）根 據 香 港 聯 合 交 易 所 有 限 公 司（「聯交所」）證 券 上 市 規 則（「上市規則」） 第13.09條及第13.24A條以及香港法例第571章證券及期貨條例第XIVA部項下內 幕 消 息 條 文 而 刊 發。 茲提述(1)本公司日期為2022年12月7日、2023年1月20日、2023年3月7日、2025年 8月7日、2025年8月29日以及2025年11月28日 的 公 告；(2)日期為2025年6月16日、 6月30日 及8月13日 的 公 告，內 容 有 關 延 遲 刊 發 截 至2025年3月31 ...

Core Viewpoint - Atmos Energy Corporation (NYSE:ATO) is recognized as a strong player in the utility sector, with a focus on dividend growth and stable earnings projections [1][2]. Group 1: Price Target and Analyst Ratings - Morgan Stanley raised its price target for Atmos Energy to $197 from $192, maintaining an Equal Weight rating on the shares [2]. - The firm noted that utilities have outperformed the S&P's return recently, indicating a positive outlook for the sector [2]. Group 2: Financial Guidance and Capital Spending - Management reaffirmed its fiscal 2026 earnings per share guidance in the range of $8.15 to $8.35, indicating confidence in future performance [3]. - The capital spending plan is confirmed to remain at $4.2 billion, supporting growth initiatives [3]. Group 3: Operational Insights - CFO Christopher Forsythe highlighted that a $35 million quarterly benefit from Texas House Bill 4384 should not be considered recurring, as its impact will vary based on several operational factors [4]. - Atmos Energy serves over 3.3 million customers across more than 1,400 communities in eight states, primarily in the southern United States, emphasizing its extensive market presence [4].

Core Insights - The Accelerating Change Together (ACT) Grant has significantly improved teacher retention in Newport News Public Schools by providing essential support and resources for new educators [1][4]. Group 1: Grant and Program Overview - The ACT Grant, amounting to $500,000, was awarded to the Newport News Education Foundation to enhance the New Teacher Institute (NTI) [1]. - The NTI is a two-year program designed to support new educators through mentorship, training, and community engagement [3]. Group 2: Teacher Retention Statistics - Nearly 30% of NNPS classroom teachers are in their first three years, reflecting national trends of increased retirements and declining enrollment in teacher preparation programs [2]. - The turnover rate for novice teachers decreased from 36% in the 2023-2024 school year to 16% in the 2024-2025 school year, achieving a 20% reduction goal [3]. Group 3: Program Implementation and Support - The program includes professional development that offers "just-in-time" support and job-embedded learning tailored to teachers' specific needs [6]. - Dedicated substitute coverage allows teachers to participate in full-day training and coaching, enhancing the program's effectiveness [6]. Group 4: Broader Impact and Future Goals - The ACT Grant initiative aims to create a sustainable educational system by investing in teacher development, ultimately benefiting students across Virginia [5]. - The program's success is part of a broader effort to address challenges in the education workforce and improve overall educational outcomes [2][5].

Financial Data and Key Metrics Changes - In 2025, the company achieved an adjusted net income of $283.9 million, an increase of 8.7% from $261.2 million in 2024, exceeding guidance by nearly $9 million [26][27] - Adjusted earnings per diluted share from continuing operations rose nearly 19% from $3.07 in 2024 to $3.65 in 2025 [25] - The adjusted return on equity for the year was 8.3%, supported by utility optimization efforts and effective cost management [6] Business Line Data and Key Metrics Changes - The utility's substantial net income growth was primarily driven by positive regulatory outcomes and strong economic activity in the service area [11] - Rate relief and continued customer growth contributed approximately $0.30 per share to EPS, while increased depreciation and amortization, along with higher interest expenses, partially offset these gains [25][27] Market Data and Key Metrics Changes - The company anticipates significant earnings per share growth of 12%-14% from 2025 to 2030, driven by improvements in the regulatory environment and the Great Basin project [8][41] - The expected revenue increase in the Arizona rate case is over $100 million, with a proposed rate base of $3.9 billion [17] Company Strategy and Development Direction - The company has transitioned to a fully regulated natural gas business following the successful disposition of Centuri, allowing for a stronger balance sheet and focus on core operations [4] - The strategic priorities for 2026 include improving returns, advancing customer-focused investments, and strengthening regulatory frameworks [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth opportunities, particularly with the anticipated improvements in regulatory frameworks in Arizona and Nevada [8][41] - The company plans to maintain a disciplined strategy focused on investing in capital plans while sustaining responsible annual dividend growth [9][39] Other Important Information - The board approved a 4% increase in the annual dividend, bringing it to an annualized $2.58 per share for 2026 [39] - The company has a cash balance of nearly $600 million, expected to fund current year dividend payments and be redeployed into utility business investments [11][33] Q&A Session Summary Question: Discussion on equity timing and engagement with rating agencies - Management indicated that they do not anticipate equity needs in 2026 and plan to utilize holding company leverage capacity to minimize equity requirements [50][53] Question: Inquiry about the Great Basin project capacity and customer interest - Management confirmed strong demand for the Great Basin project, with nearly 800 MCF subscribed, and indicated potential for future open seasons to capture additional interest [56][58] Question: Clarification on earnings uplift cadence and regulatory lag reduction - Management highlighted that upcoming rate cases in Arizona and Nevada are expected to be catalysts for reducing regulatory lag and improving earnings visibility [60][62] Question: Earnings contribution from Great Basin post-in-service - Management projected that the Great Basin project would contribute an incremental margin of approximately $215 million-$245 million once in service [70] Question: Progress in Nevada workshops and ROE considerations - Management reported positive progress in Nevada workshops and indicated that recent regulatory decisions could provide a constructive framework for future rate cases [76][79]

EARNINGS CONFERENCE CALL Full Year 2025 Results F E B R U A R Y 2 5 , 2 0 2 6 Safe Harbor Statement Forward-Looking Statements Unless context otherwise requires, in this presentation, references to "we", "us" and "our" are to Southwest Gas Holdings, Inc. (NYSE: SWX) ("Southwest Gas Holdings" or the "Company" or "SWX") together with its current consolidated subsidiaries, which include, among others, Southwest Gas Corporation ("Southwest Gas", "SWG", "Utility" or "Natural Gas Distribution" segment), Great Bas ...

Core Viewpoint - Indraprastha Gas is expected to benefit from favorable factors, including increased natural gas quotas from high-pressure high-temperature gas fields for priority sectors in India, which will help maintain strong profit margins [1] Group 1: Financial Performance - The company's strong new regional business portfolio is anticipated to ensure visibility in sales growth [1] - By the end of FY2026, the earnings before interest, taxes, depreciation, and amortization (EBITDA) is projected to reach 7 Indian Rupees per million metric standard cubic meters per day, supported by reduced gas transmission rates and lower taxes on gas sourced from Gujarat [1] Group 2: Stock Performance - HDFC Securities raised the target price for the stock from 249.00 Indian Rupees to 255.00 Indian Rupees, maintaining a buy rating [1] - The stock increased by 1.9% to 169.70 Indian Rupees [1]

Analyst Call to Review Fiscal 2026 First Quarter Financial Results February 4, 2026 9:00 a.m. Eastern Fiscal Q1 2026 Review As of February 3, 2026 Page 2 Q1 Fiscal 2026 Financial Performance Fiscal 2026 Highlights • Financial Performance • Executed Our Regulatory Strategy • Strong Balance Sheet Consolidated Financial Highlights | | | | Three Months Ended December 31 | | | --- | --- | --- | --- | --- | | Segment Net Income ($millions, except EPS) | | | | | | | 2025 | | | 2024 | | Distribution | $ | 269 | $ | ...

Core Viewpoint - Atmos Energy Corporation declared a quarterly dividend of $1.00 per share, indicating an annual dividend of $4.00, marking its 169th consecutive quarterly dividend [1] Company Overview - Atmos Energy Corporation is a natural gas-only distributor and is part of the S&P 500, headquartered in Dallas [1] Dividend Details - The dividend will be paid on March 9, 2026, to shareholders of record on February 23, 2026 [1]

Core Insights - Atmos Energy Corporation reported consolidated results for its first fiscal quarter ended December 31, 2025, highlighting strong financial performance and strategic initiatives [1] Fiscal Year Highlights - Earnings per diluted share were $2.44, with a net income of $403.0 million [4] - Capital expenditures totaled $1.0 billion, with over 85% focused on safety and reliability [4] - The company affirmed its fiscal 2026 earnings per diluted share guidance in the range of $8.15 - $8.35 [4] - Fiscal 2026 capital expenditure guidance is expected to be approximately $4.2 billion [4] - The Board of Directors declared a quarterly dividend of $1.00 per common share, indicating an annual dividend of $4.00, a 14.9% increase over fiscal 2025 [4] Financial Profile - Atmos Energy maintains a strong financial profile with 59.9% equity capitalization and $4.6 billion in available liquidity [4] - The company has implemented $122.5 million in annualized regulatory outcomes [4] Company Overview - Atmos Energy is a natural gas-only distributor and an S&P 500 company headquartered in Dallas, serving approximately 3.4 million distribution customers across over 1,400 communities in eight states [7] - The company focuses on safety, innovation, environmental sustainability, and community investment while managing one of the largest intrastate natural gas pipeline systems in Texas [7]

Core Insights - Southwest Gas Holdings, Inc. has been recognized by TIME as one of America's Best Mid-Size Companies for 2025, marking the second consecutive year of this accolade, which emphasizes employee satisfaction, revenue growth, and sustainability transparency [1][2] Company Overview - Southwest Gas Holdings, Inc. operates primarily through its subsidiary, Southwest Gas Corporation, which is involved in the purchasing, distributing, and transporting of natural gas [4] - The company serves over 2 million customers across Arizona, Nevada, and California, focusing on safe and reliable service while promoting sustainable energy solutions [4] Employee Satisfaction and Corporate Culture - The recognition from TIME reflects the positive workplace culture fostered by the company, highlighting its commitment to employee satisfaction and its role as an employer of choice [2] - The dedication of employees is noted as a key factor in supporting the company's growth and sustainability efforts [2] Selection Criteria for Recognition - TIME's Best Mid-Size Companies are selected based on employee survey data from approximately 217,000 employees across U.S. companies over the past three years, alongside three years of revenue data for companies with revenues between $100 million and $10 billion [2] - Additional criteria include ESG metrics such as carbon emissions, board diversity, human rights policies, CSR reporting, and anti-corruption practices [2]