Atmos Energy (ATO) Q1 FY2026 earnings: revenue $1.3 billion, up 14.2% on the year

Atmos Energy Corp. (ATO) reported revenue of $1.3 billion for Q1 FY2026, the quarter ended 31 December 2025, up 14.2% on the same quarter a year earlier. Net income was $403 million, up 14.5% on the year, and diluted earnings per share $2.44. The figures are the company's own, from the 10-Q it filed with the SEC on 3 February 2026.

Revenue

$1.3 billion

+14.2% on the year · +82.1% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

38.3%

39.1% a year earlier

Q2 FY2024Q1 FY2026

Net income

$403 million

+14.5% on the year · +130.4% on the quarter

Q2 FY2024Q1 FY2026

Diluted EPS

$2.44

+9.4% on the year · +134.6% on the quarter

Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 3 kept.

Diluted EPS of $2.44: The company reported diluted EPS of $2.44 on net income of $403.0 million for the first fiscal quarter ended December 31, 2025.
Fiscal 2026 EPS guidance affirmed: The company affirmed its fiscal 2026 diluted EPS guidance of $8.15 to $8.35, the range first given in the November 5, 2025 release.
Capital expenditures of $1.0 billion: Capital expenditures were $1.0 billion, with over 85% focused on safety and reliability. Fiscal 2025 capital expenditures were $3.6 billion, about 87% on safety and reliability.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	1,343	737	1,176	+82.1%	+14.2%
Cost of revenue	n/a	n/a	234
Gross profit	n/a	n/a	942
Gross margin	n/a	n/a	80.1%
Operating income	515	219	459	+134.5%	+12.0%
Operating margin	38.3%	29.8%	39.1%
Interest expense	33.4	27.2	52.9	+22.8%	-36.9%
Pre-tax income	504	213	431	+136.3%	+16.8%
Income tax	101	38.2	79.3	+163.2%	+26.8%
Effective tax rate	20.0%	17.9%	18.4%
Net income	403	175	352	+130.4%	+14.5%
Net margin	30.0%	23.7%	29.9%
Diluted EPS	$2.44	$1.04	$2.23	+134.6%	+9.4%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	308	348	282	-11.5%	+9.2%
Capital expenditure	1,033	964	891	+7.2%	+16.0%
Free cash flow	-725	-615	-609
Free cash flow margin	-54.0%	-83.5%	-51.8%
Cash from investing	-1,036	-968	-889
Cash from financing	895	110	887	+716.2%	+0.9%
Depreciation and amortisation	195	186	181	+4.8%	+7.8%
Dividends paid	160	141	135	+13.4%	+18.4%
Dividend per share	$1.00	n/a	$0.87		+14.9%
Diluted shares, weighted	165m	161m	158m	+2.7%	+4.5%
Shares outstanding at period end	165m	162m	159m	+2.4%	+4.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	14,283	13,559	12,780	+5.3%	+11.8%
Debt	9,633	8,996	8,510	+7.1%	+13.2%
Operating lease liabilities	n/a	263	n/a
Finance lease liabilities	n/a	45.5	n/a
Other liabilities	5,883	5,387	5,206	+9.2%	+13.0%
Total liabilities and equity	29,798	28,250	26,497	+5.5%	+12.5%
Goodwill	731	731	731	0.0%	0.0%
Intangible assets	72.8	75.1	80.6	-3.1%	-9.7%
Cash and equivalents	367	203	585	+81.1%	-37.2%
Receivables	731	376	629	+94.7%	+16.3%
Other assets	27,896	26,865	24,472	+3.8%	+14.0%
Total assets	29,798	28,250	26,497	+5.5%	+12.5%

Questions

What was Atmos Energy's revenue in Q1 FY2026?

Atmos Energy (ATO) reported revenue of $1.3 billion for Q1 FY2026, the quarter ended 31 December 2025, up 14.2% on the same quarter a year earlier.

How much did Atmos Energy earn in Q1 FY2026?

Net income for Q1 FY2026 was $403 million, up 14.5% on the year, and diluted earnings per share $2.44.

When did Atmos Energy report Q1 FY2026 results?

Atmos Energy filed its 10-Q for the quarter ended 31 December 2025 with the SEC on 3 February 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	568	1,013	1,650	816	723	1,484	1,541	663	588	1,158	1,647	702	658	1,176	1,951	839	737	1,343	1,962	879
Cost of revenue	83.8	371	871	249	191	738	666	44.5	3.2	339	624	n/a	n/a	234	779	n/a	n/a	n/a	n/a	n/a
Gross profit	485	642	778	567	532	746	875	618	584	820	1,023	n/a	n/a	942	1,171	n/a	n/a	n/a	n/a	n/a
Gross margin	85%	63%	47%	69%	74%	50%	57%	93%	99%	71%	62%	n/a	n/a	80%	60%	n/a	n/a	n/a	n/a	n/a
Operating income	91.0	276	385	155	105	321	423	169	154	399	551	220	185	459	629	252	219	515	765	320
Operating margin	16%	27%	23%	19%	15%	22%	27%	26%	26%	34%	33%	31%	28%	39%	32%	30%	30%	38%	39%	36%
Interest expense	14.5	19.9	28.9	26.2	27.8	36.8	37.4	31.3	31.8	51.9	55.4	41.2	42.2	52.9	50.0	41.5	27.2	33.4	48.7	33.1
Pre-tax income	59.5	265	361	142	84.1	306	403	154	137	365	512	199	159	431	603	231	213	504	734	303
Tax rate	18%	6%	10%	9%	15%	11%	11%	11%	14%	15%	16%	17%	16%	18%	19%	19%	18%	20%	21%	20%
Net income	48.7	249	325	129	71.6	272	358	138	119	311	432	166	134	352	486	186	175	403	582	243
Net margin	9%	25%	20%	16%	10%	18%	23%	21%	20%	27%	26%	24%	20%	30%	25%	22%	24%	30%	30%	28%
Diluted EPS	$0.33	$1.86	$2.37	$0.92	$0.51	$1.91	$2.48	$0.94	$0.80	$2.08	$2.85	$1.08	$0.82	$2.23	$3.03	$1.16	$1.04	$2.44	$3.47	$1.43
Operating cash flow	74.2	61.8	579	289	48.3	189	2,704	329	238	245	747	411	331	282	923	496	348	308	723	640
Capital expenditure	612	684	506	536	718	796	620	668	722	770	646	714	808	891	840	867	964	1,033	1,004	1,039
Free cash flow	-537	-622	72.8	-247	-670	-607	2,084	-339	-484	-524	101	-302	-477	-609	83.3	-371	-615	-725	-280	-399
Dividends paid	82.6	90.4	93.5	95.3	96.7	105	106	108	111	120	122	125	126	135	138	138	141	160	164	166
Shares outstanding	132m	135m	139m	140m	141m	143m	144m	147m	148m	151m	151m	155m	155m	159m	159m	161m	162m	165m	167m	169m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 December 2025, filed 3 February 2026: the filing.