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) Q1 Earnings Miss, Revenues Beat Estimates
Read MoreHide Full Article
Atmos Energy Corporation (ATO - Free Report) posted first-quarter fiscal 2023 earnings of $1.91 per share, which missed the Zacks Consensus Estimate of $1.93 by 1.04%. The bottom line improved by 2.7% from the year-ago quarter’s earnings of $1.86 per share.
Revenues
Total revenues of $1,484 million surpassed the Zacks Consensus Estimate of $1,216 million by 22%. The top line increased 46.5% from the year-ago quarter’s reported figure of $1,012.8 million.
Atmos Energy Corporation Price, Consensus and EPS Surprise
Distribution: Revenues from the segment in fiscal first-quarter 2023 were $1,440 million, a 48% hike from $972 million in the year-ago quarter.
Pipeline and Storage: Revenues from the segment were $187 million, a 14.8% increase from $163 million in the year-ago quarter.
Highlights of the Release
The purchased gas cost for fiscal first-quarter 2023 was $738.2 million, up 99% from the year-ago quarter. Operation and maintenance expenses were reported at $185 million, up 16.4% from the year-ago quarter.
The fiscal first-quarter 2023 results reported operating income of $321.2 million, up 16.4% from the year-ago quarter.
Atmos Energy incurred interest expenses of $36.8 million, up 85.2% from the year-ago quarter.
Financial Highlights
As of Dec 31, 2022, Atmos Energy reported a strong balance sheet, with available liquidity of approximately $3.4 billion.
As of Dec 31, 2022, ATO had cash and cash equivalents of $171.6 million compared with $51.6 million as of Sep 30, 2022. Net cash flow provided by operating activities in fiscal first-quarter 2023 was $188.9 million compared with $61.8 million in the year-ago quarter.
Capital expenditures were reported at $795.7 million for the first-quarter, with approximately 88% of the amount being related to system safety and reliability investments.
Guidance
Atmos Energy maintained its fiscal 2023 earnings guidance in the range of $5.90-$6.10 per share. The Zacks Consensus Estimate for fiscal 2023 earnings of $5.98 per share is lower than $6, the midpoint of the guided range.
Its capital expenditures are expected to be approximately $2.7 billion in fiscal 2023.
The company’s board of directors approves dividend hike of 8.8%, indicating annualized dividend of $2.96 per share, for fiscal 2023.
Duke Energy (DUK - Free Report) is scheduled to report fourth-quarter results on Feb 9, before market open. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.07 per share, indicating a year-over-year increase of 13.83%.
DUK’s long-term (three to five years) earnings growth is currently pegged at 5.46%. The Zacks Consensus Estimate for 2023 earnings per share (EPS) is $5.64, implying a year-over-year increase of 6.8%.
ONE Gas (OGS - Free Report) is slated to report fourth-quarter results on Feb 22, after market close. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.2 per share, implying a year-over-year increase of 7.14%.
OGS’s long-term earnings growth is currently pegged at 5%. The Zacks Consensus Estimate for 2023 EPS is $4.12, implying a year-over-year increase of 1.54%.
DTE Transfer (DTE - Free Report) is slated to report fourth-quarter results on Feb 23, before market open. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.21 per share, implying a year-over-year increase of 15.24%.
Its long-term earnings growth is currently pegged at 6%. DTE delivered an average earnings surprise of 2.85% in the last four quarters.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Atmos Energy (ATO) Q1 Earnings Miss, Revenues Beat Estimates
Atmos Energy Corporation (ATO - Free Report) posted first-quarter fiscal 2023 earnings of $1.91 per share, which missed the Zacks Consensus Estimate of $1.93 by 1.04%. The bottom line improved by 2.7% from the year-ago quarter’s earnings of $1.86 per share.
Revenues
Total revenues of $1,484 million surpassed the Zacks Consensus Estimate of $1,216 million by 22%. The top line increased 46.5% from the year-ago quarter’s reported figure of $1,012.8 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 in fiscal first-quarter 2023 were $1,440 million, a 48% hike from $972 million in the year-ago quarter.
Pipeline and Storage: Revenues from the segment were $187 million, a 14.8% increase from $163 million in the year-ago quarter.
Highlights of the Release
The purchased gas cost for fiscal first-quarter 2023 was $738.2 million, up 99% from the year-ago quarter. Operation and maintenance expenses were reported at $185 million, up 16.4% from the year-ago quarter.
The fiscal first-quarter 2023 results reported operating income of $321.2 million, up 16.4% from the year-ago quarter.
Atmos Energy incurred interest expenses of $36.8 million, up 85.2% from the year-ago quarter.
Financial Highlights
As of Dec 31, 2022, Atmos Energy reported a strong balance sheet, with available liquidity of approximately $3.4 billion.
As of Dec 31, 2022, ATO had cash and cash equivalents of $171.6 million compared with $51.6 million as of Sep 30, 2022. Net cash flow provided by operating activities in fiscal first-quarter 2023 was $188.9 million compared with $61.8 million in the year-ago quarter.
Capital expenditures were reported at $795.7 million for the first-quarter, with approximately 88% of the amount being related to system safety and reliability investments.
Guidance
Atmos Energy maintained its fiscal 2023 earnings guidance in the range of $5.90-$6.10 per share. The Zacks Consensus Estimate for fiscal 2023 earnings of $5.98 per share is lower than $6, the midpoint of the guided range.
Its capital expenditures are expected to be approximately $2.7 billion in fiscal 2023.
The company’s board of directors approves dividend hike of 8.8%, indicating annualized dividend of $2.96 per share, for fiscal 2023.
Zacks Rank
Atmos Energy currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Upcoming Releases
Duke Energy (DUK - Free Report) is scheduled to report fourth-quarter results on Feb 9, before market open. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.07 per share, indicating a year-over-year increase of 13.83%.
DUK’s long-term (three to five years) earnings growth is currently pegged at 5.46%. The Zacks Consensus Estimate for 2023 earnings per share (EPS) is $5.64, implying a year-over-year increase of 6.8%.
ONE Gas (OGS - Free Report) is slated to report fourth-quarter results on Feb 22, after market close. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.2 per share, implying a year-over-year increase of 7.14%.
OGS’s long-term earnings growth is currently pegged at 5%. The Zacks Consensus Estimate for 2023 EPS is $4.12, implying a year-over-year increase of 1.54%.
DTE Transfer (DTE - Free Report) is slated to report fourth-quarter results on Feb 23, before market open. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.21 per share, implying a year-over-year increase of 15.24%.
Its long-term earnings growth is currently pegged at 6%. DTE delivered an average earnings surprise of 2.85% in the last four quarters.