10-Q · February 3, 2026
Atmos Energy reported Q1 net income of $403.0 million ($2.44 diluted EPS) versus $351.9 million ($2.23) a year earlier, reflecting a 15% increase in net income driven by ratemaking outcomes and safety/reliability…
Earnings analysis · 10-Q
ATO earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
Atmos Energy's Q2 fiscal 2026 results show significant improvements with a reported EPS of $5.92, exceeding estimates significantly. The company also announced a positive outlook with increased capital expenditures and…
Read full summary
Atmos Energy's Q2 fiscal 2026 results show significant improvements with a reported EPS of $5.92, exceeding estimates significantly. The company also announced a positive outlook with increased capital expenditures and an impressive growth in net income and operating income across its segments.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $5.92
- Segment
- Distribution
- Segment
- Pipeline and Storage
What stood out
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Strong EPS Beat
Reported EPS came in at $5.92, significantly exceeding the estimated $3.40.
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Revenue Growth
Total revenue reached $3.71 billion for the six months ended March 31, 2026, up from $3.25 billion in the prior year.
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Increased Capital Expenditures
Capital expenditures for the quarter amounted to $2.04 billion, up from $1.72 billion in the same period last year.
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Distribution Segment Growth
Operating income in the distribution segment increased 14.4% to $915.1 million for the six months compared to $799.8 million last year.
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Pipeline and Storage Segment Gains
Pipeline and storage operating income rose 26.2% for the six months, reaching $364.4 million.
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Improved Net Income
Net income rose to $706.5 million for the six months, up from $620.9 million in the prior year.
What to watch
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Regulatory Risks
Continued regulatory scrutiny may impact costs and operational flexibility.
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Capital Access Risks
The company relies heavily on external financing, and any change in market conditions could affect access.
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Cybersecurity Threats
The threat of cyber-attacks continues to be a significant risk to operational integrity.
Management's outlook
EPS guidance raised for fiscal 2026 to a range of $8.40 - $8.50 from $8.15 - $8.35.
Earlier filings 4
10-K · November 14, 2025
Atmos Energy positions itself as a regulated, natural-gas-only distributor focused on modernizing infrastructure, reducing regulatory lag and recovering capital through formula/infrastructure ratemaking. The company…
10-Q · August 6, 2025
Atmos Energy posted quarter EPS of $1.16 (in line with consensus) on reported revenue of $838,774,000. Year-to-date net income improved to $1,023.9 million (diluted EPS $6.40) driven by ratemaking outcomes (implemented…
10-Q · May 7, 2025
Atmos Energy reported a stronger-than-expected quarter with consolidated EPS of $3.03 and revenue outperformance, driven by higher distribution and pipeline ratemaking outcomes. Distribution operating income rose $57.5M…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.