Atmos Energy : Fiscal 2022 First Quarter Presentation
February 08, 2022 at 05:38 pm EST
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Analyst Call to Review
Fiscal 2022 First Quarter
Financial Results
February 9, 2022
9:00 a.m. Eastern
Fiscal Q1 2022 Review
As of February 8, 2022
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Q1 Fiscal 2022 Financial Performance
Fiscal 2022 Highlights
Financial Performance
YTD Diluted EPS of $1.86
$684 million in capital spending; 88% allocated to safety and reliability spending
8.8% increase in fiscal 2022 annual dividend to $2.72 per diluted share
38th consecutive year of rising dividends
Executed Our Regulatory Strategy
Implemented $72.6 million as of February 8, 2022; $28.9 million net of excess deferred tax amortization
$35.8 million currently in progress
Strong Balance Sheet
Approximately $3.1 billion in liquidity
$862 million of financing to support operations
Issued $600 million 30-year senior notes at 2.85%
Settled $262 million of equity forwards
Equity capitalization at 59.0% as of December 31, 2021 excluding storm-related financing
As of February 8, 2022
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Q1 Fiscal 2022 Financial Performance
Consolidated Financial Highlights
Three Months Ended
December 31
Segment Net Income
2021
2020
($millions, except EPS)
Distribution
$
179
$
154
Pipeline & Storage
70
64
Net Income
$
249
$
218
Diluted EPS1
$
1.86
$
1.71
Capital Expenditures
$
684.2
$
456.8
1. Since Atmos Energy has non-vestedshare-based payments with a nonforfeitable right to dividends, there is a requirement to use the two-class method of computing earnings per share. As a result, EPS cannot be calculated directly from the income statement.
As of February 8, 2022
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Q1 Fiscal 2022 Financial Performance
Segment Operating Income Highlights
Three Months Ended
2021
2020
Change
December 31 ($millions)
Distribution
$
190.5
$
209.5
$
(19.0)
Pipeline & Storage
85.4
89.3
(3.9)
Operating Income
$
275.9
$
298.8
$
(22.9)
Distribution Key Drivers
Pipeline & Storage Key Drivers
$32.2MM - Net increase due to rate case outcomes
$4.3MM - Increase due to customer growth
$28.8MM - Decrease due to EDIT refunds1
$11.3MM - Increase in other O&M - primarily employee, insurance and other administrative costs
$3.2MM - Increase in system maintenance expense
$10.1MM - Increase in D&A and property tax expense
$14.5MM - Increase due to rate case outcomes
$10.0MM - Decrease due to EDIT refunds1
$5.8MM - Increase in system maintenance expense
$3.1MM - Increase in D&A expense
1. Reductions to operating income from excess deferred income tax (EDIT) refunds substantially offset by lower income tax expense by the end of the fiscal year.
As of February 8, 2022
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AEC - Atmos Energy Corporation published this content on 08 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 February 2022 22:37:04 UTC.
Atmos Energy Corporation is one of the leading U.S. distributors of natural gas. Net sales break down by activity as follows:
- sale of natural gas sales (92.7%): mainly to residential customers (6.5% of net sales), commercial customers (28.1%), and industrial customers (3.8%);
- transmission and storage of natural gas (4.2%);
- transport services (2.8%);
- other (0.3%).
ATMOS ENERGY CORPORATION 
