Atmos Energy Corporation (ATO) Annual 10-K Report

The report was filed on November 18, 2024

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Atmos Energy Corporation (ATO+1.46%) has submitted its 10-K filing for the fiscal year ended September 30, 2024.

The filing includes financial statements for the year, showing an increase in net income to $1,042.9 million from $885.9 million in the previous year. The increase is attributed to positive rate outcomes driven by safety and reliability spending.

Operating income for the distribution segment increased by 23.4% due to rate adjustments and customer growth, while the pipeline and storage segment saw a 33.8% increase in operating income primarily from rate adjustments and increased spreads.

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Atmos Energy reported capital expenditures of $2.9 billion for fiscal 2024, with 83% invested in the safety and reliability of its distribution and transportation systems.

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Cash provided by operating activities was $1,733.7 million, down from $3,459.7 million in the previous year. The decrease is largely due to the conclusion of Texas securitization proceedings in fiscal 2023.

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Atmos Energy completed approximately $2.0 billion of long-term debt and equity financing during fiscal 2024. As of September 30, 2024, the company's equity capitalization was 61.0%.

The company had a working capital of $1,132.3 million as of September 30, 2024, with total liquidity of approximately $4.8 billion, including cash and cash equivalents, funds available through equity forward sales agreements, and undrawn capacity under credit facilities.

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Atmos Energy's filing also details various financial agreements, including a new $1.5 billion senior unsecured credit facility and a $1.5 billion three-year senior unsecured credit facility.

The filing highlights the company's focus on modernizing its business and infrastructure while reducing regulatory lag, supporting continued investment in safety, innovation, environmental sustainability, and community engagement.

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Atmos Energy continues to manage commodity price risk through a combination of physical storage, fixed-price forward contracts, and financial instruments, primarily over-the-counter swap and option contracts.

The company does not anticipate significant changes in its financial condition as a result of current market risks, and it remains focused on maintaining a strong credit rating and access to capital markets.

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This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Atmos Energy Corporation annual 10-K report dated November 18, 2024. To report an error, please email earnings@qz.com.