$ATO

ATMOS ENERGY CORP

CIK:0000731802|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating revenues	$ 879,059	$ 838,774	$ 4,184,046	$ 3,965,275
Purchased gas cost	8,213	53,840	971,530	1,067,121
Operation and maintenance expense	223,162	222,100	648,762	662,440
Depreciation and amortization expense	201,521	185,786	591,853	549,069
Taxes, other than income	125,749	124,981	371,919	346,159
Operating income	320,414	252,067	1,599,982	1,340,486
Other non-operating income	16,013	20,100	55,760	68,906
Interest charges	33,144	41,537	115,288	144,476
Income before income taxes	303,283	230,630	1,540,454	1,264,916
Income tax expense	60,594	44,201	312,902	241,053
Net income	$ 242,689	$ 186,429	$ 1,227,552	$ 1,023,863
Basic net income per share (USD per share)	$ 1.44	$ 1.17	$ 7.40	$ 6.47
Diluted net income per share (USD per share)	1.43	1.16	7.33	6.40
Cash dividends per share (USD per share)	$ 1.00	$ 0.87	$ 3.00	$ 2.61
Basic weighted average shares outstanding (in shares)	168,345	159,285	165,845	158,245
Diluted weighted average shares outstanding (in shares)	169,374	161,171	167,352	159,798
Other comprehensive income (loss), net of tax
Net unrealized holding gains (losses) on available-for-sale securities, net of tax	$ (85)	$ 31	$ (242)	$ (34)
Cash flow hedges:
Amortization and unrealized gains (losses) on interest rate agreements, net of tax	(4,780)	1,378	(14,366)	12,279
Total other comprehensive income (loss)	(4,865)	1,409	(14,608)	12,245
Total comprehensive income	237,824	187,838	1,212,944	1,036,108
Distribution segment
Operating revenues	773,909	766,380	3,908,869	3,756,691
Depreciation and amortization expense	148,349	137,106	441,088	405,279
Interest charges	12,870	22,271	66,445	86,607
Income tax expense	15,558	9,731	186,414	147,833
Net income	89,385	70,481	795,923	691,337
Pipeline and storage segment
Operating revenues	105,150	72,394	275,177	208,584
Depreciation and amortization expense	53,172	48,680	150,765	143,790
Interest charges	20,274	19,266	48,843	57,869
Income tax expense	45,036	34,470	126,488	93,220
Net income	153,304	115,948	431,629	332,526
Operating Segments
Operating revenues	1,107,711	1,039,520	4,820,139	4,545,772
Operating Segments \| Distribution segment
Operating revenues	774,658	767,132	3,911,164	3,758,995
Purchased gas cost	237,072	255,883	1,605,020	1,647,490
Operating Segments \| Pipeline and storage segment
Operating revenues	333,053	272,388	908,975	786,777
Purchased gas cost	(452)	(1,548)	1,836	(638)
Intersegment eliminations
Operating revenues	(228,652)	(200,746)	(636,093)	(580,497)
Purchased gas cost	(228,407)	(200,495)	(635,326)	(579,731)
Intersegment eliminations \| Distribution segment
Operating revenues	(749)	(752)	(2,295)	(2,304)
Intersegment eliminations \| Pipeline and storage segment
Operating revenues	$ (227,903)	$ (199,994)	$ (633,798)	$ (578,193)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows From Operating Activities
Net income	$ 1,227,552	$ 1,023,863
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	591,853	549,069
Deferred income taxes	300,650	214,609
Other	(50,435)	(49,402)
Net assets / liabilities from risk management activities	1,417	(1,966)
Net change in other operating assets and liabilities	(399,571)	(34,841)
Net cash provided by operating activities	1,671,466	1,701,332
Cash Flows From Investing Activities
Capital expenditures	(3,076,281)	(2,597,787)
Debt and equity securities activities, net	(6,168)	(2,348)
Other, net	6,317	6,469
Net cash used in investing activities	(3,076,132)	(2,593,666)
Cash Flows From Financing Activities
Net proceeds from equity issuances	941,694	568,603
Issuance of common stock through stock purchase and employee retirement plans	4,783	11,532
Proceeds from issuance of long-term debt	1,296,231	1,143,447
Repayment of long-term debt	(10,000)	0
Repayment of securitized long-term debt by AEK	(4,394)	(4,051)
Cash dividends paid	(490,698)	(412,312)
Debt issuance costs	(10,944)	(10,140)
Net cash provided by financing activities	1,726,672	1,297,079
Net increase in cash and cash equivalents and restricted cash and cash equivalents	322,006	404,745
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period	203,803	308,856
Cash and cash equivalents and restricted cash and cash equivalents at end of period	$ 525,809	$ 713,601

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Sep. 30, 2025
ASSETS
Property, plant and equipment	$ 32,221,314	$ 29,264,136
Less accumulated depreciation and amortization	4,205,704	3,971,146
Net property, plant and equipment	28,015,610	25,292,990
Current assets
Cash and cash equivalents	520,953	202,687
Restricted cash and cash equivalents	4,856	1,116
Cash and cash equivalents and restricted cash and cash equivalents	525,809	203,803
Accounts receivable, net	469,455	375,509
Gas stored underground	154,429	171,756
Other current assets	351,150	301,627
Total current assets	1,500,843	1,052,695
Securitized intangible asset, net (See Note 9)	68,026	75,127
Goodwill	731,257	731,257
Deferred charges and other assets	1,269,803	1,097,453
Total assets	31,585,539	28,249,522
Shareholders’ equity
Common stock, no par value (stated at $0.005 per share), June 30, 2026 — authorized: 400,000,000 shares, issued and outstanding: 168,986,249 shares; September 30, 2025 — authorized: 200,000,000, issued and outstanding: 161,568,384 shares	845	808
Additional paid-in capital	9,205,951	8,221,455
Accumulated other comprehensive income	460,407	475,015
Retained earnings	5,590,855	4,861,612
Shareholders’ equity	15,258,058	13,558,890
Long-term debt, net	9,748,716	8,907,169
Securitized long-term debt (See Note 9)	63,751	68,236
Total capitalization	25,070,525	22,534,295
Current liabilities
Accounts payable and accrued liabilities	436,664	506,516
Other current liabilities	896,311	835,557
Current maturities of long-term debt	502,542	11,775
Current maturities of securitized long-term debt (See Note 9)	8,858	8,767
Total current liabilities	1,844,375	1,362,615
Deferred income taxes	3,262,989	2,918,347
Regulatory excess deferred taxes	100,285	117,482
Regulatory cost of removal obligation	493,006	532,461
Deferred credits and other liabilities	814,359	784,322
Total capitalization and liabilities	$ 31,585,539	$ 28,249,522