The company also expects to make another $3.7 billion in capital expenditures during the 2025 fiscal year.
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Atmos Energy made $2.9 billion in capital expenditures during the fiscal year ending Sept. 30 — an increase from the $2.8 billion in capital expenditures it made during the prior fiscal year.
The company also expects to make another $3.7 billion in capital expenditures during the 2025 fiscal year.
Those top-line capital expenditure numbers were among the highlights of a conference call conducted by Atmos executives on Nov. 7. Atmos Energy also released additional fiscal year, quarterly and regulatory information to investment analysts.
Details include:
Fiscal Year Data
- Atmos reports that about $1.3 billion in 2024 capital spending — or 83 percent of this year’s $2.9 billion total — was used to repair and replace transmission and distribution pipelines.
- Atmos reported $854.5 million in distribution income and $500.9 million in pipeline income during the 2024 fiscal year. That compares to $692.6 million in distribution income and $364.5 million in 2023 pipeline income during the prior fiscal year.
- Some of the key income drivers in 2024 were a $219.2 million net increase from distribution rate adjustments and $68.4 million from pipeline rate adjustments.
Quarterly Data
- Atmos reported $808 million in capital expenditures for the three months ending Sept. 30, as compared to $722.5 million during the corresponding quarter in 2023.
- For the three months ending Sept. 30, the company reported $185 million in operating income, up from the $154.1 million in operating income during the corresponding prior-year quarter.
- The company credited the jump in operating income to a $33.3 million net increase in distribution rate adjustments and $16 million in pipeline rate adjustments.
Regulatory Actions
- The company reported that its pipeline division implemented on Nov. 1 a 2024 System Safety & Integrity Rider that allows for the recovery of certain safety and integrity costs. The authorized recovery from the 2024 rider is $18.7 million, according to Atmos.
- Separately, Atmos implemented on Oct. 1 a Rate Review Mechanism rate increase for its Mid-Tex Cities totaling $112.1 million. For its West Texas Cities, it implemented RRM increase of $4.4 million on Oct. 1.
- On Oct. 25, Atmos filed for a systemwide rate case for its West Texas Division. If approved, the company’s annual operating income for its West Texas division would increase by $39.8 million. The test year for that case ended on June 30, 2024.
About Atmos Energy
Atmos Energy Corporation, based in Dallas, is the country’s largest natural gas-only distributor. Atmos serves more than 3.3 million distribution customers in over 1,400 communities across eight states located primarily in the South. Atmos Energy also manages proprietary pipeline and storage assets.