Atmos Energy Corporation Reports Earnings for Fiscal 2024 Second Quarter; Raises Fiscal 2024 Guidance

Atmos Energy Corporation (NYSE: ATO) today reported consolidated results for its second fiscal quarter ended March 31, 2024. This news release should be read in conjunction with our Form 10-Q and earnings slides which are concurrently being posted at www.atmosenergy.com.

Fiscal Year to Date Highlights

• Earnings per diluted share of $4.93 on net income of $743.3 million.
• Capital expenditures were $1,415.5 million; approximately 81 percent focused on safety and reliability.
• Strong financial profile with 60.9% equity capitalization and $4.2 billion in available liquidity.
• Implemented $165.4 million in annualized regulatory outcomes; $178.8 million in progress.

Outlook

• Fiscal 2024 earnings per diluted share guidance raised to the range of $6.70 - $6.80 from $6.45 - $6.65 per diluted share.
• Fiscal 2024 capital expenditure guidance increased to approximately $3.1 billion.
• The company's Board of Directors has declared a quarterly dividend of $0.805 per common share. The indicated annual dividend for fiscal 2024 is $3.22, which represents an 8.8% increase over fiscal 2023.

"Our results for the first half of fiscal 2024 reflect the hard work and dedication of all of our 5,000 employees who provide exceptional customer service while safely and reliably operating our natural gas distribution, transmission, and storage systems," said Kevin Akers, president and chief executive officer of Atmos Energy Corporation. "Their continued focus on our vision to be the safest provider of natural gas services, while pursuing our proven strategy continues to benefit our customers and the communities we are proud to serve,” Akers concluded.

Conference Call to be Webcast May 9, 2024

Atmos Energy will host a conference call with financial analysts to discuss the fiscal 2024 second quarter financial results on Thursday, May 9, 2024, at 10:00 a.m. Eastern Time. The domestic telephone number is 888-350-3846 and the international telephone number is 646-960-0251. The conference ID is 9958104. The conference call will be webcast live on the Atmos Energy website at www.investors.atmosenergy.com/events-and-presentations. A playback of the call will be available on the website later that day.