Atmos Energy (ATO) Q4 2026 earnings summary

Executive summary

• FY26 diluted EPS was $8.49, the 24th consecutive year of EPS growth; net income reached $1.427B versus $1.199B in FY25.

• FY26 marked 42 consecutive years of dividend growth; nearly 49,000 residential, nearly 3,200 commercial, and 17 industrial or large-load customers were added.

Financial highlights

• FY26 operating income was $1.859B, up $299.3MM from $1.560B in FY25; diluted EPS was $8.49 versus $7.46.

• Consolidated capital spending was $4.174B versus $3.561B in FY25; $3.672B, or 88%, supported safety and reliability.

• Consolidated O&M was $875M, in line with FY25; higher costs were offset by Rule 7.7102 deferrals.

• Implemented annualized regulatory outcomes totaled $395.4M during FY26.

Outlook and guidance

• FY27 diluted EPS guidance is $9.05-$9.25; FY31 guidance is $12.35-$12.55, implying 6%-8% annual EPS growth from the FY27 midpoint.

• The FY27-FY31 plan targets nearly $29B of capital spending, over 85% for safety and reliability; FY27 capex is expected to be ~$4.5B.

• Rate base is forecast to grow 12%-14% annually, from ~$25B at Sept. 30, 2026, to $45B-$47B by FY31.

• FY27 indicated annual dividend is $4.36 per share, up 9.0%; dividends are planned to grow in line with EPS over the five-year plan.

• FY27 O&M excluding bad debt is guided at $870MM-$890MM; assumptions include normal weather and consumption and 4% annual O&M inflation.