Analyst Consensus ?
ConsensusHold22 ratings
Bullish836.4%
Neutral1463.6%
Bearish00.0%
1 unmapped firm rating excluded from the percentages.
Atmos Energy Corporation · ATO · FY2024 Q3 · Calendar Q3 2024
Atmos Energy Reaffirms FY2024 EPS Guidance as Customer Growth Continues
The supplied analysis supports a constructive but qualified view: regulatory outcomes, customer growth, and safety and reliability investment underpin the outlook, while APT spread normalization, O&M execution, and equity financing remain important checks.
Reported After market closeNYSEUtilities
$28.28B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.08
Consensus $1.05
EPS surprise
+2.9%
Reported versus consensus
Reported revenue
$701.5M
Consensus $816.9M
Revenue surprise
-14.1%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-0.9%
Event window
SPY move
+2.3%
Same window
Abnormal move
-3.2%
Stock minus SPY
Volume
1.4×
Versus trailing sessions
Subsequent drift
+3.0%
Up to 20 sessions
ATOSPY benchmark
Ask FN2 about ATO FY2024 Q3
Transcript, numbers and history already loaded
Why did ATO fall 0.9% after beating EPS estimates in FY2024 Q3?What changed in ATO's guidance and outlook in FY2024 Q3?Give me the bull and bear case for ATO after FY2024 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, guidance sentiment moved from raised to maintained. Management continued to emphasize customer growth and capital investment, while current concerns centered more explicitly on equity needs, O&M execution, APT spreads, and Matterhorn timing.
Guidance delta
FY2024 EPS guidance was maintained at $6.70-$6.80, with management expecting to reach the higher end of the range.
Key takeaways
- Management reaffirmed FY2024 EPS guidance and pointed to the higher end of the range.
- Customer growth reached 57,000, including 45,000 new residential customers in Texas, while industrial load increased by 6 Bcf.
- Capital spending remained on track at approximately $3.1 billion, with O&M projected at $800-$820 million.
- Regulatory outcomes and safety and reliability investment supported operating income; APT spread benefits remained elevated.
Management priorities
- Continue safety and reliability capital projects across distribution and pipeline segments.
- Execute O&M initiatives including hydrostatic testing, line locating, and integrity-regulation compliance.
- Monitor Matterhorn's in-service timing and its effect on APT spreads.
- Address fiscal 2025 equity needs largely through the ATM program and evaluate infrastructure opportunities for LDCs.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$167.34Current
$113Low
$163.56Average
$200High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 19, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Truist Securities | Hold | Hold | Maintain | Oct 15, 2026 |
| Argus Research | Buy | Buy | Maintain | Oct 6, 2026 |
| Jefferies | Hold | Hold | Maintain | Oct 1, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Sep 18, 2026 |
| JP Morgan | Neutral | Overweight | Downgrade | Sep 11, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Jul 14, 2026 |
| Mizuho | Neutral | Neutral | Maintain | May 29, 2026 |
| TD Cowen | Hold | Hold | Maintain | May 15, 2026 |
| Citigroup | Neutral | Neutral | Maintain | May 8, 2026 |
| UBS | Neutral | Neutral | Maintain | Dec 17, 2025 |
| B of A Securities | Neutral | Buy | Downgrade | Oct 16, 2025 |
| Ladenburg Thalmann | Neutral | Buy | Downgrade | Aug 8, 2025 |
| Wells Fargo | Overweight | Overweight | Maintain | Oct 16, 2024 |
| Credit Suisse | Outperform | Outperform | Maintain | Nov 14, 2022 |
| Goldman Sachs | Neutral | Buy | Downgrade | May 13, 2022 |
| Seaport Global | Neutral | Buy | Downgrade | Apr 7, 2021 |
| Bank of America | Buy | Neutral | Upgrade | Jan 7, 2020 |
| Argus | Buy | Hold | Upgrade | May 5, 2018 |
| BB&T Capital | Buy | Buy | Maintain | Mar 30, 2016 |
| Edward Jones | Buy | Hold | Upgrade | Aug 8, 2014 |
| U.S. Capital Advisors | Hold | Underweight | Upgrade | Mar 19, 2014 |
| Hilliard Lyons | Long Term Buy | Maintain | Aug 10, 2012 | |
| Bank oferica | Buy | Buy | Maintain | May 17, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $167.34. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Truist Financial | Richard Sunderland | $174 | $163.94 | +4.0% | Oct 15, 2026 |
| Jefferies | Julian Dumoulin-Smith | $167 | $156.44 | -0.2% | Oct 1, 2026 |
| Morgan Stanley | Analyst unavailable | $179 | $160.21 | +7.0% | Sep 18, 2026 |
| Truist Financial | Analyst unavailable | $179 | $170.02 | +7.0% | Aug 13, 2026 |
| Morgan Stanley | Analyst unavailable | $196 | $176.52 | +17.1% | Jul 22, 2026 |
| Barclays | Analyst unavailable | $183 | $179.5 | +9.4% | Jul 14, 2026 |
| Wells Fargo | Constantine Lednev | $200 | $176.2 | +19.5% | Jul 13, 2026 |
| Argus Research | Marie Ferguson | $185 | $174.76 | +10.6% | Jul 2, 2026 |
| Morgan Stanley | Analyst unavailable | $190 | $172.4 | +13.5% | Jun 24, 2026 |
| Mizuho Securities | Gabriel Moreen | $184 | $173.01 | +10.0% | May 29, 2026 |
| Morgan Stanley | Analyst unavailable | $183 | $175.58 | +9.4% | May 21, 2026 |
| Truist Financial | Analyst unavailable | $187 | $176.48 | +11.7% | May 18, 2026 |
| Morgan Stanley | Analyst unavailable | $195 | $184.19 | +16.5% | Apr 21, 2026 |
| Morgan Stanley | Analyst unavailable | $192 | $180.38 | +14.7% | Feb 20, 2026 |
| Barclays | Analyst unavailable | $167 | $168.5 | -0.2% | Jan 27, 2026 |
| Morgan Stanley | Analyst unavailable | $180 | $167.87 | +7.6% | Jan 21, 2026 |
| Barclays | Analyst unavailable | $165 | $168.72 | -1.4% | Jan 15, 2026 |
| UBS | Analyst unavailable | $174 | $168 | +4.0% | Dec 17, 2025 |
| Morgan Stanley | Analyst unavailable | $172 | $170.77 | +2.8% | Dec 16, 2025 |
| Mizuho Securities | Gabriel Moreen | $180 | $171.72 | +7.6% | Dec 2, 2025 |
| Morgan Stanley | Analyst unavailable | $182 | $174.87 | +8.8% | Nov 20, 2025 |
| Morgan Stanley | David Arcaro | $181 | $177.54 | +8.2% | Oct 22, 2025 |
| Barclays | Analyst unavailable | $172 | $174.93 | +2.8% | Oct 9, 2025 |
| Barclays | Analyst unavailable | $175 | $175.75 | +4.6% | Oct 9, 2025 |
| Mizuho Securities | Analyst unavailable | $170 | $169.23 | +1.6% | Sep 26, 2025 |
| Morgan Stanley | Analyst unavailable | $167 | $166.46 | -0.2% | Sep 25, 2025 |
| Argus Research | Marie Ferguson | $172 | $161.82 | +2.8% | Sep 18, 2025 |
| UBS | Analyst unavailable | $159 | $156.2 | -5.0% | Jul 30, 2025 |
| Morgan Stanley | David Arcaro | $156 | $152.39 | -6.8% | Jun 18, 2025 |
| Wells Fargo | Sarah Akers | $156 | $142 | -6.8% | Oct 16, 2024 |
| Mizuho Securities | Gabriel Moreen | $148 | $136.48 | -11.6% | Sep 25, 2024 |
| Wells Fargo | Sarah Akers | $132 | $116.84 | -21.1% | May 14, 2024 |
| Mizuho Securities | Gabriel Moreen | $138 | $116.77 | -17.5% | May 13, 2024 |
| UBS | William Appicelli | $124 | $114.38 | -25.9% | Apr 12, 2024 |
| Mizuho Securities | Gabriel Moreen | $131 | $111.6 | -21.7% | Oct 11, 2023 |
| J.P. Morgan | Analyst unavailable | $115 | $112.39 | -31.3% | Jan 9, 2023 |
| Morgan Stanley | Analyst unavailable | $128 | $116.6 | -23.5% | Dec 15, 2022 |
| Morgan Stanley | Analyst unavailable | $120 | $111.54 | -28.3% | Nov 11, 2022 |
| Barclays | Analyst unavailable | $115 | $111.9 | -31.3% | Jul 18, 2022 |
| Goldman Sachs | Insoo Kim | $113 | $112.09 | -32.5% | May 12, 2022 |
| Mizuho Securities | Analyst unavailable | $131 | $114.58 | -21.7% | Apr 29, 2022 |
| Morgan Stanley | Analyst unavailable | $140 | $118 | -16.3% | Apr 26, 2022 |
| Credit Suisse | Analyst unavailable | $133 | $117.7 | -20.5% | Apr 26, 2022 |
| Morgan Stanley | Analyst unavailable | $139 | $122.28 | -16.9% | Apr 20, 2022 |
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Start freeCompany context
Snapshot as of publicationAtmos Energy Corporation, alongside its subsidiaries, is a U.S.-based enterprise primarily involved in the regulated distribution of natural gas, as well as operating pipeline and storage facilities. The company functions through two core divisions: Distribution, and Pipeline and Storage. The Distribution division manages the regulated delivery and associated sales of natural gas across eight states. This division supplies natural gas to approximately three million customers, encompassing homeowners, businesses, public agencies, and industrial clients.…
Historical context
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-10-17T05:10:49.140638+00:00
- Polygon adjusted daily market bars · 2026-10-19T01:30:42.002496+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-19T01:30:41.999740+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-19. For educational purposes only; not investment advice.