Atmos Energy announces a rise in profit for Q4 on higher rates and increases dividends to 2025
Atmos Energy announced a higher quarterly dividend and a better fourth quarter profit on Wednesday. The natural gas utility benefited from higher rates.
The company reported that higher rates in its distribution segment helped boost its operating income in the third quarter by $33.4 millions, helping to report a roughly 20% increase in this segment, at $64.6million, from the year before.
Atmos delivers natural gas to about 3 million distribution customers across eight U.S. states.
The company's pipeline and storage unit reported a 20.2% increase in quarterly operating profits to $120.4 Million from the previous year.
The U.S. natgas market was boosted by the demand for gas in the third quarter due to the hotter weather and lower storage.
Gas utility raised dividends to 87 cents a share for fiscal year 2025. This is 8.1% more than fiscal year 2024.
The company expects to earn between $7.05 and $7.25 per share in diluted form, with capital expenditures of approximately $3.7 billion.
Dallas-based company's quarterly net income reached $134 million or 86 cents a share. This compares to $119 million or 80 cents a share compared to a year ago. (Reporting from Tanay Dhumal in Bengaluru and Pooja menon; editing by Alan Barona).
(source: Reuters)
