Atmos Energy (ATO) Tops Q4 EPS by 2c, Revenues Miss; Offers FY21 EPS Guidance Above Consensus

Atmos Energy (NYSE: ATO) reported Q4 EPS of $0.53, $0.02 better than the analyst estimate of $0.51. Revenue for the quarter came in at $601.4 million versus the consensus estimate of $603.47 million.

Highlights

• Earnings per diluted share:
  • $4.89 for the year ended September 30, 2020
  • $0.53 for the quarter ended September 30, 2020
• Consolidated net income:
  • $601.4 million for the year ended September 30, 2020
  • $65.3 million for the quarter ended September 30, 2020
• Adjusted net income and adjusted diluted earnings per share, which excludes a $21.0 million one-time tax benefit related to the remeasurement of net deferred tax liabilities was $580.5 million and $4.72 for the year ended September 30, 2020.
• Capital expenditures rose 14 percent to $1,935.7 million for the year ended September 30, 2020, with approximately 88 percent of capital spending related to system safety and reliability investments.

“I am extremely proud of every employee for their commitment to deliver safe and reliable natural gas service paired with exceptional customer service. The preparation and dedication of our employees and leadership has served us and our customers well as we have continued to perform at the highest levels on every facet of our business during this pandemic,” said Kevin Akers, president and chief executive officer of Atmos Energy Corporation. “As we continue to execute our strategy of modernizing our natural gas distribution, transmission and storage systems to improve safety, reliability and environmental performance along with providing exceptional customer service at an affordable price, we remain well positioned to continue delivering annual earnings per share growth in the six to eight percent range,” Akers concluded.

GUIDANCE:

Atmos Energy sees FY2021 EPS of $4.90-$5.10, versus the consensus of $4.70.

Outlook

• Earnings per diluted share for fiscal 2021 is expected to be in the range of $4.90 to $5.10.
• Capital expenditures are expected to be in the range of $2.0 billion to $2.2 billion in fiscal 2021.
• The company's Board of Directors has declared a quarterly dividend of $0.625 per common share. The indicated annual dividend for fiscal 2021 is $2.50, which represents an 8.7% increase over fiscal 2020.

For earnings history and earnings-related data on Atmos Energy (ATO) click here.

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