Atmos releases results, gives 2014 earnings guidance

DALLAS — Atmos Energy Corporation (NYSE: ATO) has released its consolidated results for its 2013 fiscal year and fourth quarter ended Sept. 30.

Fiscal 2013 consolidated net income, excluding net unrealized margins and a gain on sale, was $232.6 million, or $2.53 per diluted share, compared with consolidated net income of $211.4 million, or $2.31 per diluted share in the prior year, excluding net unrealized margins and the net positive impact of several one-time items, including a gain on sale.

Fiscal 2013 net income includes a net gain on the sale of the Georgia assets of $5.3 million, or $0.06 per diluted share. Fiscal 2012 net income included a net gain on the sale of the Missouri, Illinois and Iowa assets of $6.3 million, or $0.07 per diluted share and the net positive impact of several one-time items totaling $4.0 million, or $0.04 per diluted share.

Fiscal 2013 net income was $243.2 million, or $2.64 per diluted share, after including noncash, unrealized net gains of $5.3 million, or $0.05 per diluted share and the gain on sale. Net income was $216.7 million, or $2.37 per diluted share in the prior year, after including unrealized net losses of $5.0 million or $(0.05) per diluted share and the net positive impact of several one-time items, including the gain on sale.

Atmos Energy expects fiscal 2014 earnings to be in the range of $2.66 to $2.76 per diluted share, excluding net unrealized margins.

The company’s board of directors has declared a quarterly dividend of 37 cents per common share. The indicated annual dividend for fiscal 2014 is $1.48, which represents a 5.7 percent increase.

“Our fiscal 2013 financial performance reflects the significant capital invested in our infrastructure, coupled with rate design outcomes that further stabilized margins,” said Kim Cocklin, president and chief executive officer of Atmos Energy Corporation. “The financial strength of the company allows us to continue to invest in improving the safety and reliability of our system, while providing a return to stakeholders. Looking forward, we are positioned to continue delivering annual earnings per share growth in the six to eight percent range,” Cocklin concluded.

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