ATMOS ENERGY (ATO) Company Report

Atmos Energy posted Q4 2025 net income of $175 million and diluted EPS of $1.07, up from $134 million and $0.86, respectively, in Q4 2024.
For FY 2025, net income was $1.199 billion with diluted EPS of $7.46, capital expenditures of $3.56 billion, and the annual dividend was raised 8.1% to $3.48 per share.
The company ended FY 2025 with $4.9 billion in available liquidity and a 60% equity capitalization, having implemented $333.6 million of regulatory rate increases as of September 30, 2025.
FY 2026 guidance includes net income of $1.38–1.40 billion, diluted EPS of $8.15–8.35, and capital spending of ~$4.2 billion.

Nov 6, 2025, 3:00 PM

Presentation

Atmos Energy reports Q4 2025 earnings and FY2026 guidance

ATO

Earnings

Guidance Update

New Projects/Investments

Atmos Energy delivered $7.46 diluted EPS in Q4 2025, marking the 23rd consecutive year of EPS growth and the 41st consecutive year of dividend increases.
Fiscal 2026 EPS guidance is $8.15–$8.35, implying 6–8% annual EPS growth from the midpoint, and the board approved an annual dividend of $4.00.
The company’s five-year (FY 2026–2030) capital plan totals $26 billion, with 85% focused on safety and reliability and 80% of spending in Texas, targeting 13–15% annual rate base growth to approximately $42 billion by FY 2030.
Texas House Bill 4384 accelerates cost recovery, enabling over 95% of capital spending to be recovered within six months and 99% within 12 months, and contributed $0.12 to FY 2025 EPS.
As of September 30, 2025, equity capitalization was 60% with $4.9 billion of available liquidity, including $1.6 billion of forward-priced ATM equity proceeds.

Nov 6, 2025, 3:00 PM

Transcript

Atmos Energy reports Q4 2025 results and fiscal 2026 outlook

ATO

Earnings

Guidance Update

Dividends

Atmos Energy reported fiscal 2025 diluted EPS of $7.46, marking 23 consecutive years of EPS growth and 41 consecutive years of dividend growth.
Fiscal 2026 EPS guidance is set at $8.15–$8.35, reflecting a rebased midpoint for 6%–8% annual growth off HB 4384 benefits.
The board approved a 168th consecutive quarterly dividend, indicating a $4.00 annual dividend for fiscal 2026, a 15% increase.
A five-year capital plan totaling $26 billion through FY2030 focuses 85% on safety and reliability, with ~80% of spending in Texas.
Major pipeline projects, including 55 mi Bethel–Groesbeck and 44 mi WA Loop II, are nearing in-service late CY 2025.

Nov 6, 2025, 3:00 PM

Transcript

Atmos Energy reports Q4 Fiscal 2025 results

ATO

Earnings

Dividends

Guidance Update

Atmos Energy reported FY 2025 diluted EPS of $7.46, marking the 23rd consecutive year of EPS growth and the 41st consecutive year of dividend growth.
Consolidated capital spending rose to $3.6 billion (87% on safety/reliability); rate base increased 14% to ~$21 billion; and consolidated O&M (ex-VAT) was $874 million for FY 2025.
Management set FY 2026 EPS guidance at $8.15–$8.35, targeting 6–8% annual EPS growth through FY 2030 (EPS of $10.80–$11.20) and approved an indicated FY 2026 dividend of $4.00, a 15% increase over FY 2025.
A five-year capital plan through FY 2030 calls for $26 billion of investment (85% on safety/reliability), with $21 billion (80%) allocated to Texas, supporting an expected rate base of ~$42 billion by FY 2030.
The company ended FY 2025 with 60% equity capitalization and $4.9 billion of available liquidity (including $1.6 billion of ATM equity proceeds) to fund future operations.

Nov 6, 2025, 3:00 PM

Transcript

Atmos Energy reports FY 2025 earnings and 2026 outlook

ATO

Earnings

Guidance Update

Dividends

Reported fiscal 2025 EPS of $7.46 on net income of $1.2 billion.
Delivered $3.6 billion in capital expenditures, with approximately 87% focused on safety and reliability.
Maintained a 60.3% equity capitalization and $4.9 billion in available liquidity.
Issued fiscal 2026 guidance of $8.15–$8.35 EPS and ~$4.2 billion in capital spending.
Increased the quarterly dividend to $1.00 per share (annualized $4.00; +14.9% over fiscal 2025).

Nov 5, 2025, 9:35 PM

8-K

Atmos Energy reports FY2025 earnings, raises dividend and issues FY2026 guidance

ATO

Earnings

Guidance Update

Dividends

Fiscal 2025 net income of $1.2 billion; EPS $7.46 per diluted share
Capital expenditures of $3.6 billion, with ~87% focused on safety and reliability
Strong financial profile: 60.3% equity capitalization and $4.9 billion in available liquidity
Fiscal 2026 guidance: EPS $8.15–$8.35 and capital expenditures of ~$4.2 billion
Quarterly dividend raised to $1.00 (annualized $4.00, up 14.9% over FY 2025)

Nov 5, 2025, 9:31 PM

Press Release

Atmos Energy raises quarterly dividend to $1.00

ATO

Dividends

Atmos Energy’s Board declared a quarterly dividend increase to $1.00 per share, resulting in an indicated Fiscal 2026 annual dividend of $4.00, up from $3.48 in Fiscal 2025.
The dividend will be paid on December 8, 2025, to shareholders of record as of November 24, 2025.
This marks the company’s 168th consecutive quarterly dividend.

Nov 5, 2025, 9:30 PM

Press Release

Atmos Energy issues $600M 5.450% senior notes

ATO

Debt Issuance

On October 1, 2025, Atmos Energy completed a public offering of $600 million aggregate principal amount of 5.450% Senior Notes due 2056, generating net proceeds of approximately $589.8 million.
The Notes are unsecured senior obligations ranking equally with all existing and future unsubordinated debt and bear interest at 5.450% per annum, payable semiannually on January 15 and July 15, beginning January 15, 2026.
The Indenture dated March 26, 2009, includes covenants limiting liens, sale-leaseback transactions, mergers and asset sales, and standard events of default; the Company may redeem the Notes at its option prior to or after the Par Call Date of July 15, 2055.

Oct 1, 2025, 8:13 PM

8-K

Atmos Energy issues $600M 5.450% Senior Notes due 2056

ATO

Debt Issuance

Announced underwritten public offering of $600 million aggregate principal amount of 5.450% Senior Notes due January 15, 2056, priced at 99.422% of par, expected to close on October 1, 2025.
Notes will bear interest at 5.450% per annum, payable semiannually on January 15 and July 15, beginning January 15, 2026, under the indenture dated March 26, 2009.
Underwriters are led by BNP Paribas Securities Corp., Credit Agricole Securities (USA) Inc., Mizuho Securities USA LLC and U.S. Bancorp Investments, Inc. as representatives.
Atmos Energy expects to receive net proceeds of approximately $589.8 million after underwriting discounts and estimated offering expenses.

Oct 1, 2025, 12:50 PM

8-K

Atmos Energy issues $500 M of 5.200% Senior Notes due 2035

ATO

Debt Issuance

On June 16, 2025, Atmos Energy entered into an underwriting agreement to offer $500 million aggregate principal amount of its 5.200% Senior Notes due August 15, 2035 under its Form S-3 registration (No. 333-283563).
The offering is expected to close on or about June 26, 2025, with net proceeds of approximately $493.5 million after underwriting discounts and estimated expenses.
The notes will bear interest at 5.200% per annum, payable semi-annually on February 15 and August 15 beginning February 15, 2026, and are redeemable at a make-whole price before May 15, 2035 and at 100% thereafter.
Joint book-running managers for the transaction are Credit Agricole Securities (USA) Inc., J.P. Morgan Securities LLC and U.S. Bancorp Investments, Inc., alongside MUFG Securities, Regions Securities and Truist Securities.

Jun 26, 2025, 12:00 AM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for ATMOS ENERGY.