Atmos Energy Corporation Reports Earnings for Fiscal 2024 First Quarter; Affirms Fiscal 2024 Guidance

Atmos Energy Corporation (NYSE: ATO) today reported consolidated results for its first fiscal quarter ended December 31, 2023. This news release should be read in conjunction with our Form 10-Q and earnings slides which are concurrently being posted at www.atmosenergy.com.

Fiscal Year to Date Highlights

• Earnings per diluted share of $2.08 on net income of $311.3 million.
• Capital expenditures were $769.7 million with approximately 82 percent focused on safety and reliability.
• Strong financial profile with 60.2% equity capitalization and $3.2 billion in available liquidity.
• Implemented $161.9 million in annualized regulatory outcomes, including the settlement of Atmos Pipeline – Texas' general rate case.

Outlook

• Fiscal 2024 earnings per diluted share guidance reaffirmed in the range of $6.45 - $6.65.
• Fiscal 2024 capital expenditures are expected to approximate $2.9 billion.
• The company's Board of Directors increased the quarterly dividend 8.8% to $0.805 per common share. The indicated annual dividend for fiscal 2024 is $3.22.

"Our first quarter results reflect the continued execution of our proven strategy by all of our 5,000 dedicated employees of operating safely and reliably while we modernize our natural gas distribution, transmission, and storage systems," said Kevin Akers, president and chief executive officer of Atmos Energy Corporation. "This strategy, along with our employees' continued focus on our vision to be the safest provider of natural gas services, continues to benefit our customers, our communities, and it positions us to continue delivering annual earnings per share growth in the six to eight percent range,” Akers concluded.

Conference Call to be Webcast February 7, 2024

Atmos Energy will host a conference call with financial analysts to discuss the fiscal 2024 first quarter financial results on Wednesday, February 7, 2024, at 9:00 a.m. Eastern Time. The domestic telephone number is 888-350-3846 and the international telephone number is 646-960-0251. The conference ID is 9958104. The conference call will be webcast live on the Atmos Energy website at www.investors.atmosenergy.com/events-and-presentations. A playback of the call will be available on the website later that day.