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Atmos Energy Corp (ATO) CEO Michael Haefner on Q1 2019 Results - Earnings Call Transcript

Feb. 06, 2019 11:12 AM ETAtmos Energy Corporation (ATO)
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Atmos Energy Corp (NYSE:ATO) Q1 2019 Earnings Conference Call February 6, 2019 8:00 AM ET

Company Participants

Jennifer Hills - VP, IR

Christopher Forsythe - SVP & CFO

Michael Haefner - President, CEO & Director

Conference Call Participants

Christopher Turnure - JPMorgan Chase & Co.

Charles Fishman - Morningstar Inc.

Ryan Levine - Citigroup


Greetings, and welcome to Atmos Energy First Quarter 2019 Earnings Call. [Operator Instructions]. As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Jennifer Hills, Vice President, Investor Relations.

Jennifer Hills

Thank you, and good morning, everyone, and thank you for joining us for. This call is being webcast live on the internet. Our earnings release and conference call slide presentation are available on our website at atmosenergy.com. As we review these financial results and discuss future expectations, please keep in mind that some of our discussions might contain forward-looking statements within the meaning of the Securities Act and the Securities Exchange Act. Our forward-looking statements and projections could differ materially from actual results. The factors that could cause such material differences are outlined on Slide 21 and are more fully described in our SEC filings.

Our first speaker is Chris Forsythe, Senior Vice President and CFO at Atmos Energy. Chris?

Christopher Forsythe

Thank you, Jennifer, and good morning, everyone. We appreciate your interest in Atmos Energy. Yesterday, we reported fiscal 2019 first quarter earnings of $158 million, a $1.38 per diluted share, compared with adjusted earnings of $152 million or $1.40 per diluted share in the prior-year quarter. Fiscal 2018 adjusted earnings and diluted earnings per share, excluding $152 million, a $1.49 per diluted share benefit as a result of implementing tax reform last year. Also, yesterday, the board of directors approved the 141st consecutive quarterly cash dividend of $0.525, which represents an indicated annual dividend of $2.10 per share for fiscal 2019, an 8.3% increase over fiscal 2018. Slides

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