Analyst Consensus ?
ConsensusHold22 ratings
Bullish836.4%
Neutral1463.6%
Bearish00.0%
1 unmapped firm rating excluded from the percentages.
Atmos Energy Corporation · ATO · FY2025 Q3 · Calendar Q3 2025
Atmos Energy: Higher Guidance, Texas Demand and Regulatory Execution
The supplied analysis supports a constructive operating thesis: customer additions, regulatory recovery, and large-volume contracts are supporting growth, while execution, financing, and throughput risks remain material.
Reported After market closeNYSEUtilities
$26.23B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.16
Consensus $1.14
EPS surprise
+1.8%
Reported versus consensus
Reported revenue
$838.8M
Consensus $822.1M
Revenue surprise
+2.0%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+3.6%
Event window
SPY move
-0.1%
Same window
Abnormal move
+3.7%
Stock minus SPY
Volume
2.9×
Versus trailing sessions
Subsequent drift
+2.3%
Up to 20 sessions
ATOSPY benchmark
Ask FN2 about ATO FY2025 Q3
Transcript, numbers and history already loaded
Why did ATO rise 3.6% after beating EPS estimates in FY2025 Q3?What changed in ATO's guidance and outlook in FY2025 Q3?Give me the bull and bear case for ATO after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Relative to the prior quarter, management reported stronger FY25 guidance, highlighted Texas House Bill 4384's capital-cost deferral benefit, and added an Abilene-area data-center gas contract. Capital spending remained elevated, focused on safety, reliability, and expansion.
Guidance delta
Management raised FY25 EPS guidance to $7.35-$7.45, from the prior quarter's $7.20-$7.30 range.
Key takeaways
- Management highlighted strong residential and industrial customer growth, especially in Texas.
- Texas House Bill 4384 adds an estimated $0.10 EPS benefit in Q4 and expands eligible capital-spending deferral.
- A new Abilene-area data-center contract and continued safety and reliability investment support the growth outlook.
- The next major checkpoint is management's FY26 guidance and five-year-plan update in the Q4 earnings call.
Management priorities
- Continue safety and reliability upgrades.
- Pursue additional large-volume contracts, including data-center projects.
- Advance pending regulatory filings and maintain balanced financing.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$158Current
$113Low
$162.87Average
$200High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 5, 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 |
|---|---|---|---|---|
| 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 |
| Truist Securities | Hold | Hold | Maintain | Aug 13, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Jul 14, 2026 |
| Argus Research | Buy | Buy | Maintain | Jul 2, 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 $158. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Jefferies | Julian Dumoulin-Smith | $167 | $156.44 | +5.7% | Oct 1, 2026 |
| Morgan Stanley | Analyst unavailable | $179 | $160.21 | +13.3% | Sep 18, 2026 |
| Truist Financial | Analyst unavailable | $179 | $170.02 | +13.3% | Aug 13, 2026 |
| Morgan Stanley | Analyst unavailable | $196 | $176.52 | +24.1% | Jul 22, 2026 |
| Barclays | Analyst unavailable | $183 | $179.5 | +15.8% | Jul 14, 2026 |
| Wells Fargo | Constantine Lednev | $200 | $176.2 | +26.6% | Jul 13, 2026 |
| Argus Research | Marie Ferguson | $185 | $174.76 | +17.1% | Jul 2, 2026 |
| Morgan Stanley | Analyst unavailable | $190 | $172.4 | +20.3% | Jun 24, 2026 |
| Mizuho Securities | Gabriel Moreen | $184 | $173.01 | +16.5% | May 29, 2026 |
| Morgan Stanley | Analyst unavailable | $183 | $175.58 | +15.8% | May 21, 2026 |
| Truist Financial | Analyst unavailable | $187 | $176.48 | +18.4% | May 18, 2026 |
| Morgan Stanley | Analyst unavailable | $195 | $184.19 | +23.4% | Apr 21, 2026 |
| Morgan Stanley | Analyst unavailable | $192 | $180.38 | +21.5% | Feb 20, 2026 |
| Barclays | Analyst unavailable | $167 | $168.5 | +5.7% | Jan 27, 2026 |
| Morgan Stanley | Analyst unavailable | $180 | $167.87 | +13.9% | Jan 21, 2026 |
| Barclays | Analyst unavailable | $165 | $168.72 | +4.4% | Jan 15, 2026 |
| UBS | Analyst unavailable | $174 | $168 | +10.1% | Dec 17, 2025 |
| Morgan Stanley | Analyst unavailable | $172 | $170.77 | +8.9% | Dec 16, 2025 |
| Mizuho Securities | Gabriel Moreen | $180 | $171.72 | +13.9% | Dec 2, 2025 |
| Morgan Stanley | Analyst unavailable | $182 | $174.87 | +15.2% | Nov 20, 2025 |
| Morgan Stanley | David Arcaro | $181 | $177.54 | +14.6% | Oct 22, 2025 |
| Barclays | Analyst unavailable | $172 | $174.93 | +8.9% | Oct 9, 2025 |
| Barclays | Analyst unavailable | $175 | $175.75 | +10.8% | Oct 9, 2025 |
| Mizuho Securities | Analyst unavailable | $170 | $169.23 | +7.6% | Sep 26, 2025 |
| Morgan Stanley | Analyst unavailable | $167 | $166.46 | +5.7% | Sep 25, 2025 |
| Argus Research | Marie Ferguson | $172 | $161.82 | +8.9% | Sep 18, 2025 |
| UBS | Analyst unavailable | $159 | $156.2 | +0.6% | Jul 30, 2025 |
| Morgan Stanley | David Arcaro | $156 | $152.39 | -1.3% | Jun 18, 2025 |
| Wells Fargo | Sarah Akers | $156 | $142 | -1.3% | Oct 16, 2024 |
| Mizuho Securities | Gabriel Moreen | $148 | $136.48 | -6.3% | Sep 25, 2024 |
| Wells Fargo | Sarah Akers | $132 | $116.84 | -16.5% | May 14, 2024 |
| Mizuho Securities | Gabriel Moreen | $138 | $116.77 | -12.7% | May 13, 2024 |
| UBS | William Appicelli | $124 | $114.38 | -21.5% | Apr 12, 2024 |
| Mizuho Securities | Gabriel Moreen | $131 | $111.6 | -17.1% | Oct 11, 2023 |
| J.P. Morgan | Analyst unavailable | $115 | $112.39 | -27.2% | Jan 9, 2023 |
| Morgan Stanley | Analyst unavailable | $128 | $116.6 | -19.0% | Dec 15, 2022 |
| Morgan Stanley | Analyst unavailable | $120 | $111.54 | -24.1% | Nov 11, 2022 |
| Barclays | Analyst unavailable | $115 | $111.9 | -27.2% | Jul 18, 2022 |
| Goldman Sachs | Insoo Kim | $113 | $112.09 | -28.5% | May 12, 2022 |
| Mizuho Securities | Analyst unavailable | $131 | $114.58 | -17.1% | Apr 29, 2022 |
| Morgan Stanley | Analyst unavailable | $140 | $118 | -11.4% | Apr 26, 2022 |
| Credit Suisse | Analyst unavailable | $133 | $117.7 | -15.8% | Apr 26, 2022 |
| Morgan Stanley | Analyst unavailable | $139 | $122.28 | -12.0% | Apr 20, 2022 |
Track every rating change on ATO the moment it posts. Free to start.
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
All ATO earningsLatest beats and misses
Who reports nextBeat on EPS
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- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the ATO recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-05T16:10:42.833991+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-05T16:10:42.831249+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 2026-10-05. For educational purposes only; not investment advice.