Atmos Energy posts mixed Q4 results, raises dividend by nearly 9%

Nov. 10, 2021 5:23 PM ETAtmos Energy Corporation (ATO)By: Carl Surran, SA News Editor
  • Atmos Energy (NYSE:ATO) +1.6% post-market after Q4 GAAP earnings miss estimates but the company raises its quarterly dividend by 8.8% to $0.68/share.
  • Q4 consolidated operating income fell $9.8M to $91M, as rate case outcomes in both segments were more than offset by increased depreciation and property tax expenses, timing of system maintenance and increased employee costs.
  • Q4 distribution operating income increased $5.7M to $37.6M, reflecting a net $22.9M increase in rates and a $4.2M increase in customer growth.
  • Q4 pipeline and storage operating income fell $15.5M to $53.4M, mostly attributable to a $16.4M increase in system maintenance expenses primarily due to timing.
  • The company issues in-line guidance for FY 2022, seeing adjusted EPS of $5.40-$5.60 vs. $5.42 analyst consensus estimate, with full-year capital spending expected at $2.4B-$2.5B.
  • Atmos Energy's stock price is slightly in the red YTD and over the past year.

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