Atmos Energy (ATO) investor relations material

Executive summary

• Year-to-date net income reached $985 million ($5.92 per diluted share), up 18% year-over-year, with strong growth driven by positive rate outcomes and favorable Texas legislation.

• Fiscal 2026 EPS guidance raised to $8.40–$8.50, up from $8.15–$8.35.

• Capital expenditures for the first half totaled $2.0 billion, with over 85% allocated to safety and reliability.

• Annual dividend increased 14.9% to $4.00 per share, marking 42 consecutive years of growth.

• Liquidity stood at $4.1 billion, supporting ongoing operations and equity needs.

Financial highlights

• Q2 net income was $582 million, up from $486 million year-over-year; six-month net income was $985 million, up from $837 million.

• Q2 diluted EPS was $3.47, up from $3.03; six-month diluted EPS was $5.92, up from $5.26.

• Operating revenues for the six months were $3,304.99 million, up from $3,126.50 million year-over-year.

• Distribution segment operating income increased 14.4% to $915.1 million; pipeline and storage segment rose 26.2% to $364.4 million.

• Dividend per share increased 14.9% year-over-year.

Outlook and guidance

• Fiscal 2026 EPS guidance raised to $8.40–$8.50; capital expenditures projected at $4.2 billion.

• Fiscal 2026 net income guidance: $1,410–$1,430 million.

• Anticipates $26 billion in capital expenditures from 2026 to 2030, with over 80% for safety and reliability.

• O&M expense guidance set at $865 million–$885 million, reflecting regulatory deferrals.

• Effective tax rate projected at 19–21%.