Strong Year-to-Date Performance: Atmos Energy reported a year-to-date fiscal 2025 net income of $1 billion, translating to earnings per diluted share of $6.40, an increase from $6 per diluted share in the prior year. The company has updated its fiscal 2025 guidance range for earnings per share to $7.35 to $7.45, reflecting robust customer growth and strong regulatory outcomes.

Customer Growth and Economic Indicators: The company added nearly 58,000 new residential customers over the past year, with 45,000 in Texas alone. Additionally, commercial and industrial demand remains strong, with 3 new industrial customers added in Q3, capable of providing an anticipated annual load of approximately 3.4 billion cubic feet (Bcf), equivalent to 67,000 residential customers.

Legislative Impact and Capital Investment: Recent Texas legislation (House Bill 4384) allows Atmos Energy to defer post-in-service carrying costs, depreciation, and taxes related to unrecovered gas plant investments, significantly increasing the eligible capital spending from approximately 45% to 80%. This deferral could support future growth and rate recovery.