Atmos Energy
Q3 2022 Earnings Call
Aug 04, 2022, 10:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Greetings, and welcome to Atmos Energy's third quarter 2022 conference call. [Operator instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Dan Meziere, vice president of investor relations and treasurer. Please go ahead.
Dan Meziere -- Vice President of Investor Relations and Treasurer
Thank you, Brock. Good morning, everyone, and thank you for joining our fiscal 2022 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 33 and are more fully described in our SEC filings. With that, I will turn the call over to Chris Forsythe, our senior VP and CFO.
Chris?
Chris Forsythe -- Senior Vice President and Chief Financial Officer
Thanks, Dan, and good morning, everyone. We appreciate you joining us and your interest in Atmos Energy. Fiscal '22 third quarter net income increased $129 million or $0.92 per diluted share -- $102 million, sorry, $0.78 per diluted share in the prior-year quarter and fiscal year-to-date net income was $703 million or $5.12 per diluted share, compared with net income of $617 million or $4.77 per diluted share in the prior-year period. Slides 5 and 6 provide operating income highlights for each of our segments for the three and nine months ended June 30.
I will focus on some of the more significant drivers underlying our fiscal year-to-date performance. Rate increases in both our operating segments totaled $172 million, primarily driven by increased safety and reliability spending and system expansion. Approximately 71% of these rate adjustments were recognized in our distribution segment. We continue to see robust customer growth in our distribution segment, which increased operating income by an additional $13 million.