Atmos Energy Corp. (ATO, Financial) filed Quarterly Report for the period ended 2010-03-31.
Atmos Energy Corp. has a market cap of $2.68 billion; its shares were traded at around $28.79 with a P/E ratio of 15.1 and P/S ratio of 0.6. The dividend yield of Atmos Energy Corp. stocks is 4.7%. Atmos Energy Corp. had an annual average earning growth of 5.8% over the past 10 years. GuruFocus rated Atmos Energy Corp. the business predictability rank of 3-star.ATO is in the portfolios of Jim Simons of Renaissance Technologies LLC, George Soros of Soros Fund Management LLC.
We reported net income of $207.5 million, or $2.22 per diluted share for the six months ended March 31, 2010 compared with net income of $205.0 million, or $2.23 per diluted share in the prior-year period. Regulated operations contributed 84 percent of our net income during this period with our nonregulated operations contributing the remaining 16 percent. The primary driver in the year-over-year increase in net income was due to our natural gas marketing segment experiencing a significant increase in unrealized margins. The favorable movement in our unrealized margins was primarily the result of the period-over-period timing of storage withdrawal gains and the associated reversal of unrealized gains into realized gains.
During the year, we continued to successfully access the capital markets and received updated debt ratings from two rating agencies. In October 2009, we renewed a $200 million 364-day committed credit facility and in December 2009 we renewed a $450 million 364-day committed credit facility for our nonregulated operations. In March 2010, Moodys upgraded our rating outlook from stable to positive and affirmed the existing credit rating on our senior long-term debt and commercial paper while S&P affirmed our rating outlook as stable and our senior long-term debt credit rating. The new credit facilities should help ensure we have sufficient liquidity to fund our working capital needs, while our credit ratings should help us continue to obtain financing at a reasonable cost in the future.
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Atmos Energy Corp. has a market cap of $2.68 billion; its shares were traded at around $28.79 with a P/E ratio of 15.1 and P/S ratio of 0.6. The dividend yield of Atmos Energy Corp. stocks is 4.7%. Atmos Energy Corp. had an annual average earning growth of 5.8% over the past 10 years. GuruFocus rated Atmos Energy Corp. the business predictability rank of 3-star.ATO is in the portfolios of Jim Simons of Renaissance Technologies LLC, George Soros of Soros Fund Management LLC.
Highlight of Business Operations:
The second quarter is our most important earnings quarter, where historically, we have earned about 64 percent of our annual net income. For the three months ended March 31, 2010, we reported net income of $114.1 million, or $1.22 per diluted share compared with net income of $129.0 million, or $1.40 per diluted share in the prior-year quarter. During the three months ended March 31, 2010, we experienced a 26 percent increase in consolidated distribution throughput due to colder weather in most of our service areas, which was partially offset by a 20 percent decrease in consolidated throughput in our regulated transmission and storage segment due to reduced demand and basis spreads. In addition, net income for the second quarter includes the positive impact of a state sales tax refund of $4.5 million which contributed $0.05 per diluted share. The results of our nonregulated operations also include noncash, unrealized net losses of $25.5 million, or ($0.27) per diluted share recognized during the quarter.We reported net income of $207.5 million, or $2.22 per diluted share for the six months ended March 31, 2010 compared with net income of $205.0 million, or $2.23 per diluted share in the prior-year period. Regulated operations contributed 84 percent of our net income during this period with our nonregulated operations contributing the remaining 16 percent. The primary driver in the year-over-year increase in net income was due to our natural gas marketing segment experiencing a significant increase in unrealized margins. The favorable movement in our unrealized margins was primarily the result of the period-over-period timing of storage withdrawal gains and the associated reversal of unrealized gains into realized gains.
During the year, we continued to successfully access the capital markets and received updated debt ratings from two rating agencies. In October 2009, we renewed a $200 million 364-day committed credit facility and in December 2009 we renewed a $450 million 364-day committed credit facility for our nonregulated operations. In March 2010, Moodys upgraded our rating outlook from stable to positive and affirmed the existing credit rating on our senior long-term debt and commercial paper while S&P affirmed our rating outlook as stable and our senior long-term debt credit rating. The new credit facilities should help ensure we have sufficient liquidity to fund our working capital needs, while our credit ratings should help us continue to obtain financing at a reasonable cost in the future.
Read the The complete Report
