Guidance
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FY2026 Q2
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Отчётный звонок Atmos Energy Corporation
Вывод Buzzberg
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.
Вывод Buzzberg 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. Читать полный анализСвернуть анализ
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.
Выручка$1.9624B+46% к/к
EPS$3.47+42% к/к
Валовая маржа46.05%Факт
Операционная маржа38.97%Факт
6 подтверждённых тезисов
Что важно сейчас
Самые значимые изменения по итогам звонка.
Regulatory
Texas Rule 77-102 impact higher than planned
Demand
Strong customer growth driven by Texas
Показать ещё 3 тезиса
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
Отчётный период
Фактические результаты
| Показатель | Факт | Изменение |
|---|---|---|
| Выручка | $1.9624B | +46% к/к |
| EPS | $3.47 | +42% к/к |
| Валовая маржа | 46.05% | Факт |
| Операционная маржа | 38.97% | Факт |
| Свободный денежный поток | $-0.2801B | Факт |
| Капзатраты | $1.0036B | Факт |
Прогнозные данные
Прогноз компании
| Показатель | Период | Диапазон | Середина | Статус |
|---|---|---|---|---|
| EPS | FY2026 | $8.40–$8.50 | $8.45 | Повышен |
AI, капзатраты и спрос
Оценка менеджмента
Confident
Management expressed confidence by raising fiscal 2026 EPS guidance, highlighting strong customer growth, and describing a clear regulatory path forward.
Инвестиции и мощности
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.
все упомянутые компании ниже: 2
Компаниис момента звонка
Цепочка поставок
Цепочка поставок
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.
Доказательства
“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”
Внешние сигналы
Альфа цепочки поставок · 3с момента звонка
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.
Доказательства
“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.
Доказательства
“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.
Доказательства
“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…”
Методология и полнота
Анализ основан только на заявлениях менеджмента. Показаны все подтверждённые упоминания компаний: 2. Фактические результаты и прогнозы разделены. Публичные доказательства ограничены восемью короткими атрибутированными цитатами. AI-анализ может быть неполным или ошибочным — проверяйте важные утверждения по первоисточнику.