Atmos Energy Outlines Fiscal 2027 Targets and Announces Chairman Retirement

Atmos Energy announced in November 2026 that Chairman Kim R. Cocklin will step down at the 2027 annual meeting. The natural gas utility also outlined an earnings per diluted share guidance range of $9.05 to $9.25 for fiscal 2027. Alongside this forecast, the company established a quarterly dividend of $1.09, which translates to an indicated yearly payout of $4.36 per share.

The updated payout represents a 9% increase and marks the company's 43rd consecutive year of annual dividend per share growth, as well as its 172nd straight quarterly dividend payment. For fiscal 2026, Atmos Energy delivered diluted earnings of $8.49 per share, achieving its 24th consecutive year of earnings per share growth.

Looking further ahead, Atmos Energy provided a fiscal 2031 earnings per share target of $12.35 to $12.55, reflecting an anticipated yearly growth rate of 6% to 8% from the midpoint of its fiscal 2027 guidance. The utility plans a five-year capital investment program of nearly $29 billion through fiscal 2031, with about 88% directed toward safety and reliability, and approximately $23 billion allocated to Texas.

During fiscal 2026, consolidated capital expenditures reached $4.2 billion, up 17% from the previous year. The utility added roughly 49,000 residential customers in fiscal 2026, with more than 37,000 located in Texas, along with nearly 3,200 commercial customers and 17 industrial or large load accounts. Operating and maintenance costs totaled $875 million for the year, with fiscal 2027 guidance projected at $870 million to $890 million, excluding bad debt.

To support its investments, Atmos Energy completed $2.4 billion in long-term financing in fiscal 2026 and plans around $17 billion in additional long-term financing over five years. As of September 30, 2026, its estimated rate base stood at $25 billion, a 15% increase, and is projected to expand to approximately $46 billion by the end of fiscal 2031. The company ended the fiscal year with roughly $3.8 billion in available liquidity and an equity capitalization of 60%.