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Atmos Energy (ATO) Shares up Since Q4 Earnings & Revenue Beat
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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.
Atmos Energy Corporation Price, Consensus and EPS Surprise
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.
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 (ATO) Shares up Since Q4 Earnings & Revenue Beat
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.
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 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%.