We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Atmos Energy (ATO) Q3 Earnings Top Estimates, Sales Rise Y/Y
Read MoreHide Full Article
Atmos Energy (ATO - Free Report) posted third-quarter fiscal 2024 earnings of $1.08 per share, which surpassed the Zacks Consensus Estimate of $1.05 by 2.9%. The bottom line also improved 14.9% from the year-ago quarter’s 94 cents.
Revenues
Total revenues of $701.5 million lagged the Zacks Consensus Estimate of $925 million by 24%. However, the top line increased 5.9% from the year-ago quarter’s reported number of $662.7 million.
Atmos Energy Corporation Price, Consensus and EPS Surprise
Distribution: Revenues totaled $633.2 million, highlighting a 2.8% increase from $616.1 million in the year-ago quarter.
Pipeline and Storage: Revenues amounted to $250.7 million, reflecting a 20.4% increase from $208.2 million in the year-ago quarter.
Highlights of the Release
Operation and maintenance expenses amounted to $211.3 million, up 8.4% from the year-ago quarter’s level.
Operating income totaled $220.3 million, up 30.1% from the year-ago quarter’s level.
Atmos Energy incurred interest expenses of $41.2 million, up 31.6% from the year-ago quarter’s figure.
The company reported 72.4 million cubic feet of consolidated distribution throughput for the quarter, down 3.8% from the year-ago quarter’s reported actuals.
Financial Highlights
As of Jun 30, 2024, Atmos Energy reported a strong balance sheet with available liquidity of approximately $4.3 billion.
As of Jun 30, 2024, ATO had cash and cash equivalents of $674.6 million compared with $15.4 million as of Sep 30, 2023.
Net cash flow provided by operating activities in the first nine months of fiscal 2024 was $1.4 billion compared with $3.2 billion in the year-ago quarter.
In the first nine months of fiscal 2024, the company invested nearly $2.1 billion, with 82% of the amount allocated for improving the safety and reliability of its distribution and transportation systems.
Guidance
Atmos Energy continues to expect its fiscal 2024 earnings in the range of $6.70-$6.80 per share. The Zacks Consensus Estimate is pegged at $6.77 per share, higher than the company’s guided range.
ATO also reaffirmed its fiscal 2024 capital expenditure guidance at $3.1 billion.
National Fuel Gas Company (NFG - Free Report) reported fiscal third-quarter EPS of 99 cents, which beat the Zacks Consensus Estimate of 92 cents by 7.6%. The bottom line decreased 2% from $1.01 in the prior-year quarter.
The Zacks Consensus Estimate for 2024 EPS is pegged at $5.13, which implies a decrease of 0.8% from the year-earlier level.
Spire Inc. (SR - Free Report) reported third-quarter fiscal 2024 loss of 14 cents per share, which beat the Zacks Consensus Estimate of a loss of 18 cents by 0.4%.
SR’s long-term (three to five years) earnings growth rate is 5%. The consensus estimate for fiscal 2024 EPS is pegged at $4.26, implying an improvement of 5.2% from the year-earlier level.
ONE Gas, Inc. (OGS - Free Report) reported second-quarter EPS of 48 cents, which missed the Zacks Consensus Estimate of 49 cents by 2%. The bottom line decreased 17.2% from 58 cents in the prior-year quarter.
OGS’ long-term earnings growth rate is 5%. The consensus estimate for 2024 EPS is pegged at $3.85, implying a decrease of 7% from the year-earlier level.
See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Atmos Energy (ATO) Q3 Earnings Top Estimates, Sales Rise Y/Y
Atmos Energy (ATO - Free Report) posted third-quarter fiscal 2024 earnings of $1.08 per share, which surpassed the Zacks Consensus Estimate of $1.05 by 2.9%. The bottom line also improved 14.9% from the year-ago quarter’s 94 cents.
Revenues
Total revenues of $701.5 million lagged the Zacks Consensus Estimate of $925 million by 24%. However, the top line increased 5.9% from the year-ago quarter’s reported number of $662.7 million.
Atmos Energy Corporation Price, Consensus and EPS Surprise
Atmos Energy Corporation price-consensus-eps-surprise-chart | Atmos Energy Corporation Quote
Segmental Revenues
Distribution: Revenues totaled $633.2 million, highlighting a 2.8% increase from $616.1 million in the year-ago quarter.
Pipeline and Storage: Revenues amounted to $250.7 million, reflecting a 20.4% increase from $208.2 million in the year-ago quarter.
Highlights of the Release
Operation and maintenance expenses amounted to $211.3 million, up 8.4% from the year-ago quarter’s level.
Operating income totaled $220.3 million, up 30.1% from the year-ago quarter’s level.
Atmos Energy incurred interest expenses of $41.2 million, up 31.6% from the year-ago quarter’s figure.
The company reported 72.4 million cubic feet of consolidated distribution throughput for the quarter, down 3.8% from the year-ago quarter’s reported actuals.
Financial Highlights
As of Jun 30, 2024, Atmos Energy reported a strong balance sheet with available liquidity of approximately $4.3 billion.
As of Jun 30, 2024, ATO had cash and cash equivalents of $674.6 million compared with $15.4 million as of Sep 30, 2023.
Net cash flow provided by operating activities in the first nine months of fiscal 2024 was $1.4 billion compared with $3.2 billion in the year-ago quarter.
In the first nine months of fiscal 2024, the company invested nearly $2.1 billion, with 82% of the amount allocated for improving the safety and reliability of its distribution and transportation systems.
Guidance
Atmos Energy continues to expect its fiscal 2024 earnings in the range of $6.70-$6.80 per share. The Zacks Consensus Estimate is pegged at $6.77 per share, higher than the company’s guided range.
ATO also reaffirmed its fiscal 2024 capital expenditure guidance at $3.1 billion.
Zacks Rank
The company currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Releases
National Fuel Gas Company (NFG - Free Report) reported fiscal third-quarter EPS of 99 cents, which beat the Zacks Consensus Estimate of 92 cents by 7.6%. The bottom line decreased 2% from $1.01 in the prior-year quarter.
The Zacks Consensus Estimate for 2024 EPS is pegged at $5.13, which implies a decrease of 0.8% from the year-earlier level.
Spire Inc. (SR - Free Report) reported third-quarter fiscal 2024 loss of 14 cents per share, which beat the Zacks Consensus Estimate of a loss of 18 cents by 0.4%.
SR’s long-term (three to five years) earnings growth rate is 5%. The consensus estimate for fiscal 2024 EPS is pegged at $4.26, implying an improvement of 5.2% from the year-earlier level.
ONE Gas, Inc. (OGS - Free Report) reported second-quarter EPS of 48 cents, which missed the Zacks Consensus Estimate of 49 cents by 2%. The bottom line decreased 17.2% from 58 cents in the prior-year quarter.
OGS’ long-term earnings growth rate is 5%. The consensus estimate for 2024 EPS is pegged at $3.85, implying a decrease of 7% from the year-earlier level.