Atmos Energy earnings date
Atmos Energy (AEO) Q4 2026 Earnings Report
DE:AEO Q4 2026 EPS Results
- Actual EPS
- EUR 1.06
- Consensus EPS
- EUR 1.03
- Beat/Miss
- Beat by +EUR 0.03
- One Year Ago EPS
- EUR 0.97
DE:AEO Q4 2026 Revenue Results
- Actual Revenue
- ―
- Expected Revenue
- EUR 789.83M
- Beat/Miss
- ―
- YoY Revenue Growth
- ―
Earnings Announcement Details
- Quarter
- Q4 2026
- Date
- 11/04/2026
- Time
- After Close
- Conference Call
- Wednesday, November 4, 2026
Atmos Energy's next earnings date is estimated for February 9, 2027, based on past reporting schedules.
Q4 2026 Earnings Call Audio
Q4 2026 Earnings Slide Deck
Q4 2026 Earnings Call Summary
The call was strongly positive overall. Atmos Energy reported record fiscal 2026 earnings per share, consecutive earnings and dividend growth, robust customer additions, substantial safety and reliability investment, strong liquidity, and a favorable multi-year earnings and rate base outlook. The main challenges were higher deferrals, planned O&M inflation and tax payments, normalization of APT through-system spreads, and a lower capital recovery percentage in Mississippi, but management presented these items as incorporated into the company's plan.
Atmos Energy initiated fiscal 2027 EPS guidance in the range of $9.05 to $9.25 and anticipates 6% to 8% annual EPS growth from the midpoint of this guidance range, with fiscal 2031 EPS in the range of $12.35 to $12.55; the indicated fiscal 2027 annual dividend is $4.36, a 9% increase over fiscal 2026. The 5-year plan includes approximately $29 billion of capital spending, with over 85% allocated to safety and reliability, capital spending growth of 11% to 13% per year, approximately $23 billion allocated to Texas, rate base growth of about 12% to 14% per year and rate base of approximately $46 billion by the end of fiscal 2031. The plan assumes normal weather, market conditions and modest customer growth, approximately 20 rate filings per year, and over 98% of planned outcomes achieved through annual filing mechanisms; fiscal 2027 O&M, excluding bad debt expense, is expected to range from $870 million to $890 million, with 4% annual O&M inflation, approximately $700 million of federal and state income tax payments, approximately $500 million related to the corporate alternative minimum tax, approximately $17 billion of incremental long-term financing, and APT market conditions more in line with historical norm.
- Record Earnings and Extended Growth StreaksFiscal 2026 diluted earnings per share was $8.49, marking the 24th consecutive year of earnings per share growth. The company also reported its 42nd consecutive year of dividend growth, and the Board approved the 172nd consecutive quarterly cash dividend.
- Strong Fiscal 2027 Earnings and Dividend GuidanceAtmos Energy initiated fiscal 2027 earnings per share guidance of $9.05 to $9.25. Based on 6% to 8% annual earnings per share growth from the midpoint of that range, fiscal 2031 earnings per share is expected to be $12.35 to $12.55. The indicated fiscal 2027 annual dividend is $4.36, a 9% increase over fiscal 2026, representing the 43rd consecutive year of dividend per share growth.
- Diversified Customer and Large-Load GrowthDuring fiscal 2026, the company added approximately 49,000 residential customers, including over 37,000 in Texas, nearly 3,200 commercial customers, and 17 industrial or large-load customers. When fully operational, the new industrial customers are anticipated to consume approximately 2 Bcf annually. Over the last five years, Atmos added over 300,000 residential and commercial customers and 190 industrial or large-load customers with an estimated annual load of 54 Bcf when fully operational, equivalent on a volumetric basis to nearly 1 million residential customers.
- Favorable Texas Growth EnvironmentTexas employment reached 14.5 million for the 12 months ending September 30 and grew 1.1%, faster than the nation. Texas was ranked the best state for business for the 22nd consecutive year, and the Dallas-Fort Worth Metroplex was identified as the fastest-growing major U.S. metro area since 2020. The Texas population is approximately 32 million, and the DFW Metroplex is projected to become the third-largest major metropolitan area within a decade.
- Continued Industrial Inquiry Across the Service TerritoryAtmos continues to receive industrial and large-load inquiries across Texas, Kentucky, Tennessee, Virginia, and Mississippi. Management reported a backlog of several dozen projects at various stages of evaluation, including economic development projects of different types and sizes.
- APT Supply and Infrastructure ExpansionAPT completed nine interconnect projects during fiscal 2026, adding almost 1.4 Bcf of additional natural gas supply capacity. During the fiscal fourth quarter, APT completed 29 miles of 36-inch pipeline connecting two adjacent compressor stations to the Tri-City storage facility, continued construction of a bilateral compressor station in Carthage, Texas, and completed the final phase of the WA loop project, which will install 15 miles of 36-inch pipe. These projects are scheduled to be in service by the end of the calendar year.
- Customer Savings Through Rider REVAPT's annual Rider REV tariff was filed and approved. Beginning November 1, customers will receive $165 million in revenue credits over the 12 months ending October 31, 2027. Customers will have received nearly $317 million in savings through the Rider REV mechanism from November 2023 through October 2027.
- Significant Safety and Reliability InvestmentThe updated five-year plan includes nearly $29 billion of investment, with approximately 88% allocated to safety and reliability. Approximately $23 billion, or 80% of total planned capital spending, is expected to be incurred in Texas. The plan is intended to modernize the company's natural gas distribution, transmission, and storage systems and support growing demand.
- Strong Fiscal 2026 Capital ExecutionConsolidated capital spending increased 17% to $4.2 billion, in line with expectations, with 88% dedicated to improving system safety and reliability. The spending increased rate base by 15% to an estimated $25 billion as of September 30, 2026. Atmos replaced nearly 1,100 miles of distribution and transmission pipe and over 59,000 service lines.
- Regulatory Recovery and Operating Income GrowthAtmos implemented $395 million in annualized operating income increases during fiscal 2026. Since the beginning of fiscal 2027, the company has implemented an additional $264 million in annualized operating income increases in its distribution segment, including $255 million from annual rate review mechanisms in Texas distribution operations. The five-year plan assumes approximately 20 rate filings per year, with over 98% of planned outcomes expected to be achieved through annual filing mechanisms.
- Solid Liquidity and Balance Sheet PositionAtmos completed $2.4 billion of long-term financing and ended fiscal 2026 with 60% equity capitalization and approximately $3.8 billion of available liquidity. The company had $871 million in forward equity proceeds priced through its ATM, satisfying over half of its anticipated fiscal 2027 equity needs. Management said the current debt maturity profile remains manageable, with a 4.38% weighted average cost of debt and a 15.4-year weighted average maturity.
- Planned Rate Base and Capital GrowthCapital spending in the five-year plan is expected to grow 11% to 13% per year and support rate base growth of approximately 12% to 14% per year. Rate base is expected to increase from approximately $25 billion as of September 30 to approximately $46 billion by the end of fiscal 2031. Approximately $16 billion of the planned Texas investment is allocated to Texas distribution and approximately $7 billion to APT.
- Regulatory and Financial FlexibilityThe company intends to use approximately $17 billion of incremental long-term financing over the five-year plan and expects to meet all equity needs through its ATM program. Atmos had approximately $430 million remaining under its existing ATM program and intends to file for a new $1.7 billion ATM program in early fiscal 2027. Management said it remains comfortable maintaining equity capitalization around 60%.
- Stable Fiscal 2026 Operating CostsConsolidated O&M was $875 million in fiscal 2026, in line with fiscal 2025. Increases in compliance and safety-related spending, APT maintenance, and administrative and employee costs were offset by Rule 7.7102 deferrals.
- Strong Regulatory Position and Customer AffordabilityManagement stated that 96% of the company's rate base is situated in six of its eight states that have passed customer-choice or all-fuels legislation. The company also said its residential customers' average monthly natural gas bill is again expected to remain the lowest utility bill in the home.
- System Planning and Operational ReliabilityAtmos uses 1-, 3-, 5-, and 10-year system planning based on population trends, demand, new load, internal engineering analysis, operational expertise, and third-party engineering validation. APT also reviews maximum daily quantities for its LDC customers annually after winter to ensure usage remains aligned with contractual demand.
DE:AEO Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 09, 2027 | 2027 (Q1) | 2.34- | 2.21 | ― | ― |
| Nov 04, 2026 | 2026 (Q4) | 1.031.06 | 0.97 | 9.35% (+0.09) | |
| Aug 05, 2026 | 2026 (Q3) | 1.221.29 | 1.05 | 23.28% (+0.24) | |
| May 06, 2026 | 2026 (Q2) | 3.083.14 | 2.74 | 14.52% (+0.40) | |
| Feb 03, 2026 | 2026 (Q1) | 2.202.21 | 2.02 | 9.42% (+0.19) | |
| Nov 05, 2025 | 2025 (Q4) | 0.890.97 | 0.78 | 24.42% (+0.19) | |
| Aug 06, 2025 | 2025 (Q3) | 1.031.05 | 0.98 | 7.41% (+0.07) | |
| May 07, 2025 | 2025 (Q2) | 2.622.74 | 2.58 | 6.32% (+0.16) | |
| Feb 04, 2025 | 2025 (Q1) | 1.992.02 | 1.88 | 7.21% (+0.14) | |
| Nov 06, 2024 | 2024 (Q4) | 0.720.78 | 0.72 | 7.50% (+0.05) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
