Atmos Energy reported first-quarter earnings of $2.44 per share, surpassing the consensus estimate of $2.41 and up from $2.23 in the year-ago period. Net income rose 14.5% compared with the prior year, driven by increased demand in both its gas distribution and pipeline operations. Earnings performance reflects disciplined cost management and favorable weather impacts, as well as a modest contribution from recent rate case approvals in Texas and Oklahoma.

Consolidated revenues climbed 14% year over year, reflecting higher volumes and increased base rates. Gas distribution revenues increased by 12%, supported by cooler winter temperatures in core markets, while pipeline services revenues grew by 18% as throughput on newly commissioned compressor stations reached full capacity. Utility operations benefited from ongoing infrastructure investments, with capital expenditures of $210 million in the quarter focused on system integrity and customer meter upgrades.

The board approved a 4% increase in the quarterly dividend, marking the company’s tenth consecutive annual raise and reinforcing its commitment to returning cash to shareholders. Atmos Energy reaffirmed its 2026 capital spending plan of $900 million to $950 million, targeting system reliability enhancements and strategic pipeline expansions. Management indicated that regulatory filings in Louisiana and Mississippi, expected in the second half of the year, could support further rate base growth and incremental earnings contributions.