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Atmos Energy Corporation (ATO+1.46%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in net income to $351.9 million from $311.3 million in the same quarter the previous year. This increase is attributed to positive rate outcomes driven by safety and reliability spending.
Operating revenues for the distribution segment were $1,109.3 million, with an operating income of $316.0 million. The increase in operating income is primarily due to rate adjustments and customer growth.
The pipeline and storage segment reported operating revenues of $255.4 million, with an operating income of $143.4 million. This increase is attributed to rate adjustments and increased through-system activities.
Capital expenditures for the quarter were $891.2 million, with approximately 86% invested in improving the safety and reliability of the distribution and transportation systems.
Atmos Energy completed approximately $1.0 billion of long-term debt and equity financing during the quarter. The company had $5.2 billion in total liquidity as of December 31, 2024.
The filing details various regulatory proceedings, including rate adjustments that resulted in an increase in annual operating income of $150.5 million. Additional ratemaking efforts are in progress, seeking a total increase in annual operating income of $95.4 million.
Atmos Energy's credit ratings remain stable, with a senior unsecured long-term debt rating of A- from S&P and A1 from Moody's.
The company reported cash provided by operating activities of $282.0 million, an increase from $245.3 million in the previous year. This increase is attributed to successful rate case outcomes.
The filing also includes information on the company's financial instruments, regulatory proceedings, and other operational details.
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 quarterly 10-Q report dated February 4, 2025. To report an error, please email earnings@qz.com.