Atmos Energy Corporation
ATO
$168.99 -1.35%
Exchange: NYSE | Sector: Utilities | Industry: Regulated Gas
Q3 2024
Published: Aug 7, 2024

Earnings Highlights

  • Revenue of $701.55M up 5.9% year-over-year
  • EPS of $1.08 increased by 14.9% from previous year
  • Gross margin of 46.5%
  • Net income of 165.56M
  • "We typically issue between $600 million and $800 million a year in equity through the ATM program that we have seen. As I mentioned a few minutes ago, we had $551 million of price at the end of June, which that amount will basically mostly satisfy our fiscal 2025 needs." - Christopher Forsythe
ATO
Company ATO

Executive Summary

Atmos Energy reported a solid Q3 2024 for a regulated gas utility, with diluted EPS of $1.08 and Q3 revenue of $701.5 million. Year-to-date diluted earnings per share reached $6.00, up from $5.33 in the prior-year period, driven by regulatory outcomes that added $238 million of operating income across segments and by growing residential and industrial demand, particularly in Texas. Through-system revenues from Atmos Pipeline and Storage (APT) also supported performance during the quarter. Excluding a one-time Mississippi bad debt adjustment of $14 million in Q4 FY2023, O&M was up about 3% YoY, reflecting higher personnel, insurance, and IT costs, offset by timing benefits in the pipeline and storage segment. The company reaffirmed a full-year 2024 EPS at the high end of the range ($6.70–$6.80) and continues to project 6%–8% adjusted EPS growth through 2028, supported by a robust capex program (~$3.1 billion for FY2024) and ongoing regulatory outcomes.

Key Performance Indicators

Revenue
Increasing
701.55M
QoQ: -57.41% | YoY: 5.86%
Gross Profit
Decreasing
326.01M
46.47% margin
QoQ: -50.45% | YoY: -30.29%
Operating Income
Increasing
220.27M
QoQ: -60.02% | YoY: 30.14%
Net Income
Increasing
165.56M
QoQ: -61.68% | YoY: 20.14%
EPS
Increasing
1.08
QoQ: -62.11% | YoY: 14.89%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q2 2025 1,950.50 3.03 +18.4% View
Q1 2025 1,176.00 2.23 +1.5% View
Q4 2024 657.94 0.88 +12.0% View
Q3 2024 701.55 1.08 +5.9% View
Q2 2024 1,647.23 2.85 +6.9% View