Atmos Energy Corporation (ATO) Q3 2023 Earnings Call Transcript

Atmos Energy Corporation (NYSE:ATO) Q3 2023 Earnings Conference Call August 3, 2023 10:00 AM ET

Company Participants

Daniel Meziere - VP of IR & Treasurer

Chris Forsythe - SVP & CFO

Kevin Akers - President & CEO

Conference Call Participants

Richard Sunderland - JPMorgan

Ryan Levine - Citi

Operator

Ladies and gentlemen, thank you for standing by. My name is Aaron, and I will be your conference operator for today. At this time, I would like to welcome everyone to the Atmos Energy Corporation Fiscal Third Quarter Earnings Conference Call.

All lines have been placed on mute to prevent any background noise. After the speakers' remarks there will be a question-and-answer session. [Operator Instructions]. Thank you.

I would now like to turn the call over to Dan Meziere. Dan, please go ahead.

Daniel Meziere

Thank you, Aaron. Good morning, everyone, and thank you for joining our fiscal 2023 third quarter earnings call. With me today are Kevin Akers, President and Chief Executive Officer; and Chris Forsythe, Senior Vice President and Chief Financial Officer.

Our earnings release and conference call slide presentation, which we will reference in our prepared remarks, are available at atmosenergy.com under the Investor Relations tab.

As we review these financial results and discuss future expectations, please keep in mind that some of our discussion might contain forward-looking statements within the meaning of the Securities Act and the Securities Exchange Act. Our forward-looking statements and projections could differ materially from actual results. The factors that could cause such material differences are outlined on Slide 34 and are more fully described in our SEC filings.

With that, I will turn the call over to Chris Forsythe, our Senior Vice President and CFO. Chris?

Chris Forsythe

Thank you, Dan, and good morning, everyone. We appreciate you joining us and your interest in Atmos Energy. Yesterday, we announced fiscal year-to-date diluted earnings per share of $5.33 compared to $5.12 per diluted share in the prior year period. Our third quarter and fiscal year-to-date financial results were in line with our expectations and continue to be driven by three key themes. Regulatory outcomes reflecting increased safety and reliability spending, continued strong customer growth and higher O&M spending.

Fiscal '22 and '23 regulatory outcomes in both of our segments increased operating income by approximately $204 million. And higher consumption, residential customer growth and rising industrial load in our distribution segment increased operating income by an additional $27 million.