Atmos Energy Corporation (ATO - Free Report) posted fourth-quarter fiscal 2022 earnings per share of 51 cents, which surpassed the Zacks Consensus Estimate of 45 cents by 13.3%. The bottom line improved by 37.8% from the year-ago earnings of 37 cents per share.
Fiscal 2022 earnings of $5.60 per share were at the high end of the earnings guidance range of $5.50-$5.60 per share.
Courtesy of the better-than-expected performance of Atmos Energy, the market reacted positively and the shares of the company have gained 8.4% post fourth-quarter earnings release.
Revenues
Total revenues of $723 million surpassed the Zacks Consensus Estimate of $722 million by 0.08%. The top line increased 27.3% from the year-ago reported figure of $568 million.
Fiscal 2022 total revenues were $4.2 billion up, from $3.4 billion from the year-ago period.
Segment Revenues
Distribution: Revenues from the segment in fiscal 2022 increased 24.5% to $4,035.2 million from $3,241.9 million in the prior-year period.
Pipeline and Storage: Revenues from the segment increased 8.8% to $693.7 million from $637.4 million in the year-ago quarter.
Highlights of the Release
The purchased gas cost for the fiscal year was $1,682.7 million, up 62.9% from the year-ago period. Operation and maintenance expenses for the year were $710.2 million, up 4.6% from the year-ago period.
Fiscal 2022 operating income was up 1.8% year over year to $920.9 million.
Atmos Energy incurred interest expenses of $102.8 million, up 22.9% from the year-ago period.
Financial Highlights
As of Sep 30, 2022, ATO had cash and cash equivalents of $51.4 million. Net cash flow provided (used in) by operating activities in fiscal 2022 was $977.6 million compared with $1,084.3 million in the year-ago period.
Atmos Energy invested $2.4 billion in fiscal 2022 to strengthen operations. Nearly 88% of capital spending was associated with system safety and increased reliability of services.
Guidance
Atmos Energy initiated its fiscal 2023 earnings guidance in the range of $5.90-$6.10 per share. The Zacks Consensus Estimate for fiscal 2023 earnings of $5.95 per share is lower than $6, the midpoint of the guided range. ATO plans to invest $2.7 billion in fiscal 2023.
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
Sempra Energy’s (SRE - Free Report) third-quarter 2022 adjusted earnings per share (EPS) came in at $1.97, which beat the Zacks Consensus Estimate of $1.79 by 10.1%.
The long-term (three- to five-year) earnings growth of SRE is currently pegged at 5.71%. The Zacks Consensus Estimate for SRE’s 2022 earnings implies year-over-year growth of 3.9%.
DTE Energy Company (DTE - Free Report) reported third-quarter 2022 operating EPS of $1.60, which surpassed the Zacks Consensus Estimate of $1.58 by 1.3%.
The long-term earnings growth of DTE is currently pegged at 5.71%. The Zacks Consensus Estimate for DTE’s 2022 earnings implies year-over-year growth of 0.5%.
ONE Gas Inc. (OGS - Free Report) reported third-quarter 2022 operating earnings per share of 44 cents, which surpassed the Zacks Consensus Estimate of 41 cents by 7.3%.
The long-term earnings growth of OGS is currently pegged at 5%. The Zacks Consensus Estimate for OGS’ 2022 earnings implies year-over-year growth of 5.7%.
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Atmos Energy Corporation (ATO - Free Report) posted fourth-quarter fiscal 2022 earnings per share of 51 cents, which surpassed the Zacks Consensus Estimate of 45 cents by 13.3%. The bottom line improved by 37.8% from the year-ago earnings of 37 cents per share.
Fiscal 2022 earnings of $5.60 per share were at the high end of the earnings guidance range of $5.50-$5.60 per share.
Courtesy of the better-than-expected performance of Atmos Energy, the market reacted positively and the shares of the company have gained 8.4% post fourth-quarter earnings release.
Revenues
Total revenues of $723 million surpassed the Zacks Consensus Estimate of $722 million by 0.08%. The top line increased 27.3% from the year-ago reported figure of $568 million.
Fiscal 2022 total revenues were $4.2 billion up, from $3.4 billion from the year-ago period.
Segment Revenues
Distribution: Revenues from the segment in fiscal 2022 increased 24.5% to $4,035.2 million from $3,241.9 million in the prior-year period.
Pipeline and Storage: Revenues from the segment increased 8.8% to $693.7 million from $637.4 million in the year-ago quarter.
Highlights of the Release
The purchased gas cost for the fiscal year was $1,682.7 million, up 62.9% from the year-ago period. Operation and maintenance expenses for the year were $710.2 million, up 4.6% from the year-ago period.
Fiscal 2022 operating income was up 1.8% year over year to $920.9 million.
Atmos Energy incurred interest expenses of $102.8 million, up 22.9% from the year-ago period.
Financial Highlights
As of Sep 30, 2022, ATO had cash and cash equivalents of $51.4 million. Net cash flow provided (used in) by operating activities in fiscal 2022 was $977.6 million compared with $1,084.3 million in the year-ago period.
Atmos Energy invested $2.4 billion in fiscal 2022 to strengthen operations. Nearly 88% of capital spending was associated with system safety and increased reliability of services.
Guidance
Atmos Energy initiated its fiscal 2023 earnings guidance in the range of $5.90-$6.10 per share. The Zacks Consensus Estimate for fiscal 2023 earnings of $5.95 per share is lower than $6, the midpoint of the guided range. ATO plans to invest $2.7 billion in fiscal 2023.
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
Sempra Energy’s (SRE - Free Report) third-quarter 2022 adjusted earnings per share (EPS) came in at $1.97, which beat the Zacks Consensus Estimate of $1.79 by 10.1%.
The long-term (three- to five-year) earnings growth of SRE is currently pegged at 5.71%. The Zacks Consensus Estimate for SRE’s 2022 earnings implies year-over-year growth of 3.9%.
DTE Energy Company (DTE - Free Report) reported third-quarter 2022 operating EPS of $1.60, which surpassed the Zacks Consensus Estimate of $1.58 by 1.3%.
The long-term earnings growth of DTE is currently pegged at 5.71%. The Zacks Consensus Estimate for DTE’s 2022 earnings implies year-over-year growth of 0.5%.
ONE Gas Inc. (OGS - Free Report) reported third-quarter 2022 operating earnings per share of 44 cents, which surpassed the Zacks Consensus Estimate of 41 cents by 7.3%.
The long-term earnings growth of OGS is currently pegged at 5%. The Zacks Consensus Estimate for OGS’ 2022 earnings implies year-over-year growth of 5.7%.
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 an American AI company that’s riding low right now, but it has rounded up clients like BMW, GE, Dell Computer, and Bosch. It has prospects for not just doubling but quadrupling in the year to come. Of course, all our picks aren’t winners but this one could far surpass earlier 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
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