Sign in

    Atmos Energy Corp (ATO)

    You might also like

    Business Description

    Atmos Energy Corporation is a company primarily engaged in the regulated natural gas distribution and pipeline and storage businesses. It operates through two main segments: the distribution segment and the pipeline and storage segment, providing natural gas services across eight states to over 3.3 million customers, including residential, commercial, public authority, and industrial clients . The company also engages in transporting natural gas for others through its distribution and pipeline systems, further supporting its revenue streams .

    1. Distribution Segment - Involves regulated natural gas distribution and related sales operations across eight states, serving a diverse customer base including residential, commercial, public authority, and industrial clients.
    2. Pipeline and Storage Segment - Consists of regulated pipeline and storage operations, including Atmos Pipeline-Texas (APT) and natural gas transmission operations in Louisiana, providing transportation and storage services to various customers.

    Key Metrics

    View all financials →

    Leadership

    NamePositionExternal RolesShort Bio

    Kevin Akers

    ExecutiveBoard

    President, Chief Executive Officer, and Director

    None

    Joined Atmos Energy in 1991; became CEO on October 1, 2019. Previously held multiple leadership roles, including EVP and President of various divisions.

    		View Report →

    Christopher T. Forsythe

    Executive

    Senior Vice President and Chief Financial Officer

    None

    Joined Atmos Energy in June 2003; became CFO on February 1, 2017. Previously served as VP and Controller.

    Jessica Bateman Pulliam

    Executive

    Senior Vice President, General Counsel, and Corporate Secretary

    None

    Joined Atmos Energy in 2025 after a 21-year career at Baker Botts L.L.P., where she co-chaired the Securities and Shareholder Litigation Group.

    John M. Robbins

    Executive

    Senior Vice President, Human Resources

    None

    Joined Atmos Energy in May 2013; became SVP of Human Resources on January 1, 2017. Previously served as VP of HR and Director of Compensation and Benefits.

    John S. McDill

    Executive

    Senior Vice President, Utility Operations

    None

    Has 37 years of service, including time with Mississippi Valley Gas (acquired by Atmos). Became SVP of Utility Operations on October 1, 2021.

    Karen E. Hartsfield

    Executive

    Senior Advisor (formerly SVP, General Counsel, and Corporate Secretary)

    None

    Joined Atmos Energy in June 2015; transitioned to Senior Advisor role on January 1, 2025, after serving as SVP, General Counsel, and Corporate Secretary since August 7, 2017.

    Diana J. Walters

    Board

    Director

    Board Member at Platinum Group Metals Ltd. and Trilogy Metals, Inc.

    Independent director since 2018. Over 35 years of experience in the natural resources sector, including investment banking and equity investment.

    Edward J. Geiser

    Board

    Director

    Executive Managing Partner of Juniper Capital Advisors

    Independent director since September 10, 2024. Former Chairman of Ranger Oil Corporation.

    Frank Yoho

    Board

    Director

    None

    Independent director since 2020. Former EVP and President of Natural Gas at Duke Energy.

    Kelly H. Compton

    Board

    Director

    Executive Director of The Hoglund Foundation; Trustee at SMU and Perot Museum

    Independent director since 2016. Executive Director of The Hoglund Foundation since 1992.

    Kim R. Cocklin

    Board

    Chairman of the Board

    Leadership roles in Southern Gas Association and American Gas Association

    Joined Atmos Energy in 2006; served as CEO from 2010 to 2017. Became Chairman of the Board in December 2020.

    Nancy K. Quinn

    Board

    Director

    None

    Independent director since 2004. Chair of the Audit Committee and member of the Executive Committee.

    Rafael G. Garza

    Board

    Director

    Executive Vice Chairman of VBT Financial Corporation; Founder of RGG Capital Partners and Bravo Equity Partners

    Independent director since 2016. Extensive experience in private investments, banking, and corporate finance.

    Richard A. Sampson

    Board

    Director

    General Partner and Founder of RS Core Capital, LLC

    Independent director since 2012. Extensive experience in investment management and financial transactions.

    Richard K. Gordon

    Board

    Director

    General Partner of Juniper Capital LP; Senior Advisor to Juniper Capital II and III; Board Member at ExoStat Medical, Inc.

    Independent director since 2001. Extensive experience in investment banking and energy-related financial services.

    Sean Donohue

    Board

    Director

    CEO of Dallas Fort Worth International Airport

    Independent director since 2018. CEO of DFW Airport since 2013. Previously held leadership roles at Virgin Australia Airlines and United Airlines.

    Telisa Toliver

    Board

    Director

    None

    Independent director since September 10, 2024. Former General Manager, Renewable Power at Chevron Pipeline and Power.

    Questions to Ask Management

    1. Given the significant increase in your 5-year capital plan to $24 billion and expected rate base growth of 13% to 15% annually, can you provide more detail on the specific projects driving this increase, and how you plan to manage the execution risk associated with this elevated level of investment?

    2. Your assumption of 4% annual O&M inflation excludes bad debt expense; with recent changes in accounting for uncollectibles and potential economic uncertainties, how confident are you that bad debt expense will remain flat over the next five years, and what impact could higher bad debt levels have on your financial projections?

    3. With plans to finance $15 billion in incremental capital using a 50/50 mix of equity and long-term debt, can you elaborate on your strategy to raise the required equity capital, and how you intend to mitigate the potential dilutive effects on existing shareholders?

    4. You've assumed no changes to your ROEs or regulatory mechanisms over the 5-year plan; considering the evolving regulatory landscape, what risks do you see to these assumptions, and how might any changes impact your earnings projections?

    5. Your 5-year plan is based on assumptions of normal weather, modest customer growth, and a 6% decrease in oil and gas costs; given the volatility in commodity prices and potential economic slowdowns, how sensitive are your earnings projections to deviations from these assumptions, and what contingencies are in place to address potential adverse scenarios?

    Debt Maturity Schedule

    YearAmount Due (in millions)Debt TypeInterest Rate% of Total Debt Calculation
    2026$10.0 Medium term Series A notes6.67% 0.1% = ($10.0 / $7,785.0) * 100
    2027$500.0 Unsecured 3.00% Senior Notes3.00% 6.4% = ($500.0 / $7,785.0) * 100
    2028$150.0 Unsecured 6.75% Debentures6.75% 1.9% = ($150.0 / $7,785.0) * 100
    2029$500.0 Unsecured 2.625% Senior Notes2.625% 6.4% = ($500.0 / $7,785.0) * 100
    2031$600.0 Unsecured 1.50% Senior Notes1.50% 7.7% = ($600.0 / $7,785.0) * 100
    2032$300.0 Unsecured 5.45% Senior Notes5.45% 3.9% = ($300.0 / $7,785.0) * 100
    2033$725.0 Unsecured 5.90% Senior Notes5.90% 9.3% = ($725.0 / $7,785.0) * 100
    2034$200.0 Unsecured 5.95% Senior Notes5.95% 2.6% = ($200.0 / $7,785.0) * 100
    2041$400.0 Unsecured 5.50% Senior Notes5.50% 5.1% = ($400.0 / $7,785.0) * 100
    2043$500.0 Unsecured 4.15% Senior Notes4.15% 6.4% = ($500.0 / $7,785.0) * 100
    2044$750.0 Unsecured 4.125% Senior Notes4.125% 9.6% = ($750.0 / $7,785.0) * 100
    2048$600.0 Unsecured 4.30% Senior Notes4.30% 7.7% = ($600.0 / $7,785.0) * 100
    2049$450.0 Unsecured 4.125% Senior Notes4.125% 5.8% = ($450.0 / $7,785.0) * 100
    2049$500.0 Unsecured 3.375% Senior Notes3.375% 6.4% = ($500.0 / $7,785.0) * 100
    2052$600.0 Unsecured 2.85% Senior Notes2.85% 7.7% = ($600.0 / $7,785.0) * 100
    2052$500.0 Unsecured 5.75% Senior Notes5.75% 6.4% = ($500.0 / $7,785.0) * 100
    2053$500.0 Unsecured 6.20% Senior Notes6.20% 6.4% = ($500.0 / $7,785.0) * 100
    2054$650.0 Unsecured 5.00% Senior Notes5.00% 8.3% = ($650.0 / $7,785.0) * 100

    Auditor

    NameStart DateEnd DateReason for Change
    Ernst & Young LLPN/APresentCurrent auditor

    Recent Mergers & Acquisitions

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Securitized Utility Tariff Property

    2023

    Latest news

    Recent developments and announcements about ATO.

    8-K Filings

    • 8-K Filing

      ·
      Feb 19, 2025, 9:34 PM
      Shareholder Vote

      At its 2025 AGM, Atmos Energy achieved a 93.04% quorum with 144,616,886 shares. Shareholders approved all board nominees, a 2M share LTIP increase, and ratified Ernst & Young LLP as auditor.

      View full 8-K filing →