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TheStreet Open House

Atmos Energy Corporation Reports Earnings For Fiscal 2012; Initiates Fiscal 2013 Guidance

Atmos Energy Corporation (NYSE: ATO) today reported consolidated results for its 2012 fiscal year and fourth quarter ended September 30, 2012.

  • Fiscal 2012 consolidated results, excluding net unrealized margins were $221.7 million, or $2.42 per diluted share, compared with consolidated results of $214.2 million, or $2.34 per diluted share in the prior year.
  • After including noncash, unrealized net losses of $5.0 million, or ($0.05) per diluted share, fiscal 2012 net income was $216.7 million, or $2.37 per diluted share. Net income was $207.6 million, or $2.27 per diluted share in the prior year, after including unrealized net losses of $6.6 million or ($0.07) per diluted share.
  • Fiscal 2012 net income includes a net gain on the sale of the Missouri, Illinois and Iowa assets of $6.3 million, or $0.07 per diluted share. Additionally, included in current-year net income is the net positive impact of several one-time items totaling $4.0 million, or $0.04 per diluted share. Fiscal 2011 net income included the positive impact of several one-time items totaling $3.2 million, or $0.03 per diluted share.
  • Excluding the gain on sale, net income from discontinued operations was $18.2 million, or $0.20 per diluted share in the current year, compared with $18.0 million, or $0.20 per diluted share in the prior year.
  • Atmos Energy expects fiscal 2013 earnings to be in the range of $2.40 to $2.50 per diluted share, excluding unrealized margins and the gain on the sale of the company‚Äôs Georgia operations.

For the quarter ended September 30, 2012, consolidated net income was $8.0 million, or $0.09 per diluted share, compared with net income of $2.0 million, or $0.02 per diluted share for the same quarter last year. Results from nonregulated operations include noncash, unrealized net losses of $12.4 million, or ($0.14) per diluted share for the three months ended September 30, 2012, compared with net losses of $4.9 million, or ($0.05) per diluted share for the prior-year quarter. Current-quarter net income includes the aforementioned gain on the sale of Missouri, Illinois and Iowa assets totaling $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. Excluding the gain on sale, net income from discontinued operations for the quarter ended September 30, 2012 was $1.9 million, or $0.02 per diluted share, compared with $1.7 million, or $0.02 per diluted share in the prior-year quarter.

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