Atmos Energy Corporation

ATO Utilities Utilities Regulated Gas

Atmos Energy Corporation’s revenue for fiscal 2025 (year ended September 2025) was $4.7 billion, up 12.9% from fiscal 2024.

Revenue
+4.80%
EPS
+23.1%
Free cash flow
−7.79%
Total debt
+14.7%

Quarter to June 2026, against a year earlier

174.58 2.17 +1.26%
Market cap
$29.1B
P/E
20.6×
Fwd P/E
20.4×
Dividend yield
2.29%
F-score
5/9
Altman Z
1.68
Beneish M
−2.62
Dividend safety
48/100

Atmos Energy Corporation (ATO) Earnings & Analysis

Updated · Covers results through Q3 FY2026 · How this is made

Latest quarter

Atmos Energy reported Q3 FY2026 revenue of $879.1 million, compared with $838.8 million in Q3 FY2025, a 4.80% increase. The company reported adjusted EPS of $1.43, above the consensus of $1.34, while revenue of $879.1 million was below the $1.0 billion consensus.

The filing shows diluted EPS of $1.43 for Q3 FY2026, compared with $1.16 a year earlier, representing a 23.3% increase. Atmos Energy reported a gross margin of 99.1%, compared with 93.6% in Q3 FY2025, and an operating margin of 36.4%, compared with 30.1% a year earlier. The filing attributed higher distribution-segment operating income to rate adjustments and residential customer growth, partly offset by employee-related costs and depreciation and property taxes associated with capital investments. The filing attributed higher pipeline-and-storage operating income primarily to rate adjustments, higher contracted capacity and through-system activities, partly offset by depreciation expense and property taxes. Atmos Energy reported free cash flow of −$399.4 million in Q3 FY2026, compared with −$370.6 million in Q3 FY2025.

Q3 FY2026 Q3 FY2025 Change
Revenue $879.1 million $838.8 million 4.80%
Diluted EPS $1.43 $1.16 23.3%
Gross margin 99.1% 93.6% 5.5 percentage points
Operating margin 36.4% 30.1% 6.4 percentage points
Free cash flow −$399.4 million −$370.6 million —
Against the consensus Reported Consensus Result
Adjusted EPS $1.43 $1.34 Beat by 6.72%
Revenue $879.1 million $1.0 billion Missed by 15.3%

Adjusted EPS is the figure the consensus estimates, not the GAAP EPS above.

What management said on the call

Atmos Energy did not provide an earnings-call transcript or other latest-call commentary. The available filing said the company anticipates significant capital expenditures to modernize its distribution and transmission system, comply with safety regulations and prepare to serve growing communities.

Guidance

Atmos Energy reaffirmed FY2026 diluted EPS guidance of $8.40–$8.50. The company also continued to expect FY2026 capital expenditures of approximately $4.2 billion. The available guidance did not identify a change from the company’s previous outlook.

Metric For Guide Previous guide Change
Capex FY2026 $4.2 billion — New
EPS FY2026 $8.40–$8.50 — New