Atmos Energy Corporation (ATO - Free Report) posted fourth-quarter fiscal 2020 earnings of 53 cents per share, which surpassed the Zacks Consensus Estimate of 52 cents by 1.9%.
The reported earnings also improved 8.2% from the prior-year figure. The year-over-year improvement in earnings was due to positive rate outcomes in both the segments and customer growth in its distribution segment.
Total Revenues
Total revenues of $474.9 million missed the Zacks Consensus Estimate of $571 million by 16.8%. However, the top line increased 7% from the year-ago figure of $443.7 million.
Segment Revenues
Distribution: Revenues from the segment increased 6.5% to $430.2 million from $403.9 million in the prior-year quarter.
Pipeline and Storage: Revenues from the segment increased 6.2% to $156.9 million from $147.7 million in the year-ago quarter. The improvement was driven by an increase in rates.
Quarterly Highlights
Purchased gas cost for the quarter was $18.1 million, up 32.1% from the year-ago period. Operation and maintenance expenses for the quarter were $180.1 million, up 1.3% from the year-ago period.
Operating income for the reported quarter was up 12.4% year over year to $100.8 million.
The company incurred interest expenses of $15.5 million, down 46.2% from the year-ago period.
Financial Highlights
As of Sep 30, 2020, Atmos Energy had cash and cash equivalents of $20.8 million compared with $24.6 million on Sep 30, 2019.
Long-term debt was $4.53 billion as of Sep 30, 2020, up from $3.53 billion on Sep 30, 2019.
The company’s cash flow from operating activities for fiscal 2020 was $1,037.9 million, up from $968.8 million recorded in the comparable year-ago period.
It invested $1,925.5 million in fiscal 2020 to strengthen operations. The figure was up 14% from the year-ago period. Nearly 88% of the capital spending was related to system safety and increased reliability of its services.
Guidance
Atmos Energy expects fiscal 2021 earnings in the range of $4.90-$5.10 per share. The Zacks Consensus Estimate for fiscal 2021 earnings is $5.03 per share. It expects capital expenditure in the range of $2-$2.2 billion for fiscal 2021.
Zacks Rank
Atmos Energy currently has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
Plains All American Pipeline, L.P. (PAA - Free Report) reported third-quarter 2020 adjusted net income of 46 cents per unit, which outpaced the Zacks Consensus Estimate of 32 cents by 43.8%.
MDU Resources Group Inc. (MDU - Free Report) reported third-quarter 2020 operating earnings of 76 cents per share, which increased 11.8% from the year-ago level.
ONE Gas Inc. (OGS - Free Report) reported third-quarter 2020 earnings of 39 cents per share, beating the Zacks Consensus Estimate of 36 cents by 8.3%.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Atmos Energy Corporation (ATO - Free Report) posted fourth-quarter fiscal 2020 earnings of 53 cents per share, which surpassed the Zacks Consensus Estimate of 52 cents by 1.9%.
The reported earnings also improved 8.2% from the prior-year figure. The year-over-year improvement in earnings was due to positive rate outcomes in both the segments and customer growth in its distribution segment.
Total Revenues
Total revenues of $474.9 million missed the Zacks Consensus Estimate of $571 million by 16.8%. However, the top line increased 7% from the year-ago figure of $443.7 million.
Segment Revenues
Distribution: Revenues from the segment increased 6.5% to $430.2 million from $403.9 million in the prior-year quarter.
Pipeline and Storage: Revenues from the segment increased 6.2% to $156.9 million from $147.7 million in the year-ago quarter. The improvement was driven by an increase in rates.
Quarterly Highlights
Purchased gas cost for the quarter was $18.1 million, up 32.1% from the year-ago period. Operation and maintenance expenses for the quarter were $180.1 million, up 1.3% from the year-ago period.
Operating income for the reported quarter was up 12.4% year over year to $100.8 million.
The company incurred interest expenses of $15.5 million, down 46.2% from the year-ago period.
Financial Highlights
As of Sep 30, 2020, Atmos Energy had cash and cash equivalents of $20.8 million compared with $24.6 million on Sep 30, 2019.
Long-term debt was $4.53 billion as of Sep 30, 2020, up from $3.53 billion on Sep 30, 2019.
The company’s cash flow from operating activities for fiscal 2020 was $1,037.9 million, up from $968.8 million recorded in the comparable year-ago period.
It invested $1,925.5 million in fiscal 2020 to strengthen operations. The figure was up 14% from the year-ago period. Nearly 88% of the capital spending was related to system safety and increased reliability of its services.
Guidance
Atmos Energy expects fiscal 2021 earnings in the range of $4.90-$5.10 per share. The Zacks Consensus Estimate for fiscal 2021 earnings is $5.03 per share. It expects capital expenditure in the range of $2-$2.2 billion for fiscal 2021.
Zacks Rank
Atmos Energy currently has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
Plains All American Pipeline, L.P. (PAA - Free Report) reported third-quarter 2020 adjusted net income of 46 cents per unit, which outpaced the Zacks Consensus Estimate of 32 cents by 43.8%.
MDU Resources Group Inc. (MDU - Free Report) reported third-quarter 2020 operating earnings of 76 cents per share, which increased 11.8% from the year-ago level.
ONE Gas Inc. (OGS - Free Report) reported third-quarter 2020 earnings of 39 cents per share, beating the Zacks Consensus Estimate of 36 cents by 8.3%.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on PAA - FREE
Get the latest research report on ATO - FREE
Get the latest research report on MDU - FREE
Get the latest research report on OGS - FREE