We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Atmos Energy (ATO) Q3 Earnings Beat Estimates, Revenues Miss
Read MoreHide Full Article
Atmos Energy Corporation (ATO - Free Report) posted third-quarter fiscal 2020 earnings of 79 cents per share, which surpassed the Zacks Consensus Estimate of 76 cents by 3.9%.
The reported earnings also improved 16.2% from the prior-year figure. The year-over-year improvement in earnings was due to positive rate outcomes in both the segments, and lower operation and maintenance expenses in the distribution segment.
Total Revenues
Total revenues of $492.9 million missed the Zacks Consensus Estimate of $621 million by 20.6%. However, the top line increased 1.5% from the year-ago figure of $485.8 million.
Atmos Energy Corporation Price, Consensus and EPS Surprise
Distribution: Revenues from the segment decreased 2.2% to $435.3 million from $444.9 million in the prior-year quarter.
Pipeline and Storage: Revenues from the segment increased 5.9% to $158 million from $149.2 million in the year-ago quarter. The improvement was driven by an increase in rates, marginally offset by a rise in depreciation expenses.
Quarterly Highlights
Purchased gas cost in the quarter was $26.1 million, down 16.6% from the year-ago period. Operation and maintenance expenses for the quarter were $149.5 million, down 9.1% from the year-ago period.
Operating income for the reported quarter was up 13.8% year over year to $139.1 million.
The company incurred interest expenses of $19.6 million, on par with the year-ago period.
Financial Highlights
As of Jun 30, 2020, Atmos Energy had cash and cash equivalents of $208.6 million compared with $24.6 million on Sep 30, 2019.
Long-term debt was $4.53 billion as of Jun 30, 2020, up from $3.53 billion on Sep 30, 2019.
The company’s cash flow from operating activities for the first nine months of fiscal 2020 was $895.5 million, up from $808.9 million recorded in the comparable year-ago period.
It invested $1,405.7 million in the first nine months of fiscal 2020 to strengthen operations. The figure was up 17% 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 reiterated its fiscal 2020 earnings guidance in the range of $4.58-$4.73 per share. The Zacks Consensus Estimate for fiscal 2020 earnings is $4.69 per share. Capital expenditure view also remains unchanged and is expected in the range of $1.85-$1.95 billion for fiscal 2020.
Zacks Rank
Atmos Energy currently has a Zacks Rank #4 (Sell).
Plains All American Pipeline (PAA - Free Report) posted second-quarter 2020 operating earnings of 25 cents per unit, which lagged the Zacks Consensus Estimate by 10.7%.
Sempra Energy’s (SRE - Free Report) second-quarter 2020 adjusted earnings per share came in at $1.65, lagging the Zacks Consensus Estimate of $1.66 by 0.6%.
ONEOK Inc. (OKE - Free Report) posted second-quarter 2020 operating earnings of 32 cents per share, which missed the Zacks Consensus Estimate of 50 cents by 36%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Image: Bigstock
Atmos Energy (ATO) Q3 Earnings Beat Estimates, Revenues Miss
Atmos Energy Corporation (ATO - Free Report) posted third-quarter fiscal 2020 earnings of 79 cents per share, which surpassed the Zacks Consensus Estimate of 76 cents by 3.9%.
The reported earnings also improved 16.2% from the prior-year figure. The year-over-year improvement in earnings was due to positive rate outcomes in both the segments, and lower operation and maintenance expenses in the distribution segment.
Total Revenues
Total revenues of $492.9 million missed the Zacks Consensus Estimate of $621 million by 20.6%. However, the top line increased 1.5% from the year-ago figure of $485.8 million.
Atmos Energy Corporation Price, Consensus and EPS Surprise
Atmos Energy Corporation price-consensus-eps-surprise-chart | Atmos Energy Corporation Quote
Segment Revenues
Distribution: Revenues from the segment decreased 2.2% to $435.3 million from $444.9 million in the prior-year quarter.
Pipeline and Storage: Revenues from the segment increased 5.9% to $158 million from $149.2 million in the year-ago quarter. The improvement was driven by an increase in rates, marginally offset by a rise in depreciation expenses.
Quarterly Highlights
Purchased gas cost in the quarter was $26.1 million, down 16.6% from the year-ago period. Operation and maintenance expenses for the quarter were $149.5 million, down 9.1% from the year-ago period.
Operating income for the reported quarter was up 13.8% year over year to $139.1 million.
The company incurred interest expenses of $19.6 million, on par with the year-ago period.
Financial Highlights
As of Jun 30, 2020, Atmos Energy had cash and cash equivalents of $208.6 million compared with $24.6 million on Sep 30, 2019.
Long-term debt was $4.53 billion as of Jun 30, 2020, up from $3.53 billion on Sep 30, 2019.
The company’s cash flow from operating activities for the first nine months of fiscal 2020 was $895.5 million, up from $808.9 million recorded in the comparable year-ago period.
It invested $1,405.7 million in the first nine months of fiscal 2020 to strengthen operations. The figure was up 17% 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 reiterated its fiscal 2020 earnings guidance in the range of $4.58-$4.73 per share. The Zacks Consensus Estimate for fiscal 2020 earnings is $4.69 per share. Capital expenditure view also remains unchanged and is expected in the range of $1.85-$1.95 billion for fiscal 2020.
Zacks Rank
Atmos Energy currently has a Zacks Rank #4 (Sell).
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
Plains All American Pipeline (PAA - Free Report) posted second-quarter 2020 operating earnings of 25 cents per unit, which lagged the Zacks Consensus Estimate by 10.7%.
Sempra Energy’s (SRE - Free Report) second-quarter 2020 adjusted earnings per share came in at $1.65, lagging the Zacks Consensus Estimate of $1.66 by 0.6%.
ONEOK Inc. (OKE - Free Report) posted second-quarter 2020 operating earnings of 32 cents per share, which missed the Zacks Consensus Estimate of 50 cents by 36%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>