Guidance
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FY2026 Q2
개선
Atmos Energy Corporation 실적 발표
Buzzberg 분석
Fiscal 2026 EPS guidance raised to $8.40-$8.50
Atmos Energy reported strong fiscal Q2 2026 results, beating expectations with EPS of $5.92 YTD. The company raised its full-year EPS guidance to $8.40-$8.50, driven by higher APT through-system revenues from favorable natural gas spreads and a higher-than-expected benefit from the finalization of Texas Rule 77-102. Management remains confident in its 6-8% long-term growth outlook. Raised FY2026 EPS guidance to $8.40-$8.50 from $8.15-$8.35, citing improved outlook for APT through-system revenues and higher-than-expected Rule 77-102 benefits.
Buzzberg 분석 Fiscal 2026 EPS guidance raised to $8.40-$8.50 Atmos Energy reported strong fiscal Q2 2026 results, beating expectations with EPS of $5.92 YTD. The company raised its full-year EPS guidance to $8.40-$8.50, driven by higher APT through-system revenues from favorable natural gas spreads and a higher-than-expected benefit from the finalization of Texas Rule 77-102. Management remains confident in its 6-8% long-term growth outlook. Raised FY2026 EPS guidance to $8.40-$8.50 from $8.15-$8.35, citing improved outlook for APT through-system revenues and higher-than-expected Rule 77-102 benefits. 전체 분석 보기분석 접기
Atmos Energy reported strong fiscal Q2 2026 results, beating expectations with EPS of $5.92 YTD. The company raised its full-year EPS guidance to $8.40-$8.50, driven by higher APT through-system revenues from favorable natural gas spreads and a higher-than-expected benefit from the finalization of Texas Rule 77-102. Management remains confident in its 6-8% long-term growth outlook. Raised FY2026 EPS guidance to $8.40-$8.50 from $8.15-$8.35, citing improved outlook for APT through-system revenues and higher-than-expected Rule 77-102 benefits.
- Reported YTD FY2026 EPS of $5.92, a 12.5% increase YoY.
- APT through-system spreads averaged $4.35 vs. $1.80 in the prior year period, driven by Waha pricing dynamics and takeaway constraints.
- Finalized Texas Rule 77-102 is expected to add $155M-$165M pre-tax to FY2026 results.
매출$1.9624B+46% 전분기 대비
주당순이익(EPS)$3.47+42% 전분기 대비
매출총이익률46.05%보고값
영업이익률38.97%보고값
근거 있는 핵심 내용 6개
지금 중요한 점
이번 발표에서 가장 의미 있는 변화를 정리했습니다.
Regulatory
Texas Rule 77-102 impact higher than planned
Demand
Strong customer growth driven by Texas
핵심 내용 3개 더 보기
Margins
APT through-system revenues add $0.08 year-to-date
Capex
Capital plan on track at $4.2 billion
Dividend
Dividend growth to align with EPS growth
보고 기간
보고 실적
| 지표 | 보고값 | 변화 |
|---|---|---|
| 매출 | $1.9624B | +46% 전분기 대비 |
| 주당순이익(EPS) | $3.47 | +42% 전분기 대비 |
| 매출총이익률 | 46.05% | 보고값 |
| 영업이익률 | 38.97% | 보고값 |
| 잉여현금흐름 | $-0.2801B | 보고값 |
| 자본지출 | $1.0036B | 보고값 |
향후 전망
향후 가이던스
| 지표 | 기간 | 범위 | 중간값 | 상태 |
|---|---|---|---|---|
| 주당순이익(EPS) | FY2026 | $8.40–$8.50 | $8.45 | 상향 |
AI, 자본지출 및 수요 분석
경영진 분석
Confident
Management expressed confidence by raising fiscal 2026 EPS guidance, highlighting strong customer growth, and describing a clear regulatory path forward.
투자 및 생산능력
Management reaffirmed its plan to spend approximately $4.2 billion in capital expenditures for fiscal 2026, with over 89% of the first-half investments focused on enhancing the safety and reliability of distribution, transmission, and underground storage systems. They also completed major pipeline and interconnect projects in Texas to support growth.
아래에 언급된 기업 2개 모두 표시
기업발표 이후 수익률
공급망
공급망
Chris Forsyth
APT's through-system revenues are benefiting from higher natural gas basis spreads, which are being driven by rising associated gas production, constrained takeaway capacity, and lower demand due to warm weather. Management expects this to add an additional $0.08-$0.12 to fiscal 2026 EPS in the second half. — This indicates a tightening natural gas takeaway market in the Permian Basin (Waha), which is a positive pricing signal for midstream companies with capacity on pipes leaving the basin (e.g., TRGP, WMB) and a negative signal for those with gathering/processing assets long on gas.
근거
“The spreads we captured averaged $4.35 compared to $1.80 in the prior year period, reflecting rising associated with gas production, constrained takeaway capacity, and lower demand due to unseasonally warm weather during this past winter”
외부 신호
공급망 알파 · 3발표 이후 수익률
APT's through-system revenues are benefiting from higher natural gas basis spreads, which are being driven by rising associated gas production, constrained takeaway capacity, and lower demand due to warm weather. Management expects this to add an additional $0.08-$0.12 to fiscal 2026 EPS in the second half.
근거
“The spreads we captured averaged $4.35 compared to $1.80 in the prior year period, reflecting rising associated with gas production, constrained takeaway capacity, and lower demand due to unseasonally warm weather during this past winter h…”
The Texas Railroad Commission has finalized Rule 77-102, which now allows for the deferral of carrying costs on non-eligible Rule 8209 capital investments (like new customer growth). The financial impact for fiscal 2026 is now expected to be $155M-$165M (pre-tax), higher than originally planned.
근거
“We estimate this impact will range from $155 million to $165 million for the entire fiscal year, including the deferral of incurred post and service carrying costs, depreciation, and ad valorem taxes.”
Atmos Energy has over $890 million in net proceeds available under its forward sale agreements (ATM equity), which is expected to cover its remaining fiscal 2026 equity needs and a portion of fiscal 2027, giving it significant financial flexibility.
근거
“This amount includes approximately $890 million in net proceeds available under existing forward sale agreements, which is expected to satisfy the remainder of our anticipated fiscal 26 equity needs and a portion of our anticipated equity…”
방법론 및 범위
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