Atmos Energy Corp. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Atmos Energy Corp. has filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing its financial performance and operational status.</b>

AI Summary

ATMOS ENERGY CORP (ATO) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. Atmos Energy Corp. filed a 10-Q report for the period ending March 31, 2024. The filing covers the second quarter of fiscal year 2024. The company's fiscal year ends on September 30th. Atmos Energy Corp. is classified under Natural Gas Distribution (SIC 4924). The company's principal executive offices are located in Dallas, Texas.

Why It Matters

For investors and stakeholders tracking ATMOS ENERGY CORP, this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest financial data for Atmos Energy Corp., crucial for evaluating the company's performance in the natural gas distribution sector. Understanding the details within this report is essential for assessing the company's financial health, operational efficiency, and any potential risks or opportunities that may have emerged during the reporting period.

Risk Assessment

Risk Level: medium — ATMOS ENERGY CORP shows moderate risk based on this filing. The company operates in the regulated natural gas distribution industry, which is subject to significant regulatory oversight and potential changes in policy or rates, impacting financial performance and operational flexibility.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-Q to assess Atmos Energy Corp.'s current financial health and future prospects.

Key Numbers

• 2024-03-31 — Reporting Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-08 — Filing Date (FILED AS OF DATE)
• 0930 — Fiscal Year End (FISCAL YEAR END)
• 4924 — Standard Industrial Classification (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• ATMOS ENERGY CORP (company) — FILER
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-08 (date) — FILED AS OF DATE
• Dallas (location) — CITY
• TX (location) — STATE
• 75240 (postal_code) — ZIP
• 9729349227 (phone_number) — BUSINESS PHONE
• ENERGAS CO (company) — FORMER COMPANY

FAQ

Industry Context

Atmos Energy Corp. operates in the natural gas distribution industry, a sector characterized by significant infrastructure investment and regulatory oversight to ensure safe and reliable energy delivery.

Regulatory Implications

The natural gas distribution sector is heavily regulated by state and federal agencies, which set rates, safety standards, and environmental compliance requirements, directly impacting company operations and profitability.

What Investors Should Do

1. Review the financial statements for revenue, expenses, and net income for the quarter and year-to-date.
2. Analyze any disclosed segment information to understand performance drivers in Distribution and Pipeline/Storage.
3. Examine the Management's Discussion and Analysis for insights into operational performance and future outlook.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-08: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the period ending March 31, 2024. Comparative data from the previous year's quarter will be available in the full report.

Filing Documents

• ato-20240331.htm (10-Q) — 1748KB
• ato2024331ex-15.htm (EX-15) — 3KB
• ato2024331ex-31.htm (EX-31) — 18KB
• ato2024331ex-32.htm (EX-32) — 11KB
• 0000731802-24-000013.txt (&nbsp;) — 9457KB
• ato-20240331.xsd (EX-101.SCH) — 56KB
• ato-20240331_cal.xml (EX-101.CAL) — 71KB
• ato-20240331_def.xml (EX-101.DEF) — 280KB
• ato-20240331_lab.xml (EX-101.LAB) — 633KB
• ato-20240331_pre.xml (EX-101.PRE) — 463KB
• ato-20240331_htm.xml (XML) — 1919KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements ATMOS ENERGY CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS March 31, 2024 September 30, 2023 (Unaudited) (In thousands, except share data) ASSETS Property, plant and equipment $ 24,283,917 $ 22,898,374 Less accumulated depreciation and amortization 3,469,354 3,291,791 Net property, plant and equipment 20,814,563 19,606,583 Current assets Cash and cash equivalents 262,497 15,404 Restricted cash and cash equivalents 1,272 3,844 Cash and cash equivalents and restricted cash and cash equivalents 263,769 19,248 Accounts receivable, net 596,433 328,654 Gas stored underground 144,128 245,830 Other current assets 428,105 292,036 Total current assets 1,432,435 885,768 Securitized intangible asset, net (See Note 9) 87,279 92,202 Goodwill 731,257 731,257 Deferred charges and other assets 939,106 1,201,158 $ 24,004,640 $ 22,516,968 CAPITALIZATION AND LIABILITIES Shareholders' equity Common stock, no par value (stated at $ 0.005 per share); 200,000,000 shares authorized; issued and outstanding: March 31, 2024 — 150,874,552 shares; September 30, 2023 — 148,492,783 shares $ 754 $ 742 Additional paid-in capital 6,953,761 6,684,120 Accumulated other comprehensive income 495,700 518,528 Retained earnings 4,168,424 3,666,674 Shareholders' equity 11,618,639 10,870,064 Long-term debt, net 7,444,855 6,554,133 Securitized long-term debt (See Note 9) 81,261 85,078 Total capitalization 19,144,755 17,509,275 Current liabilities Accounts payable and accrued liabilities 367,887 336,083 Other current liabilities 677,706 763,086 Short-term debt — 241,933 Current maturities of long-term debt 1,591 1,568 Current maturities of securitized long-term debt (See Note 9) 8,001 9,922 Total current liabilities 1,055,185 1,352,592 Deferred income taxes 2,486,024 2,304,974 Regulatory excess deferred taxes 216,284 253,212 Regulatory cost of removal obligation 506,860 497,017 Deferred credits and other liabilities 595,532 599

View Full Filing

View this 10-Q filing on SEC EDGAR