Atmos Energy (ATO) Q2 FY2026 earnings: revenue $2.0 billion, up 0.6% on the year

Atmos Energy Corp. (ATO) reported revenue of $2.0 billion for Q2 FY2026, the quarter ended 31 March 2026, up 0.6% on the same quarter a year earlier. Net income was $582 million, up 19.8% on the year, and diluted earnings per share $3.47. The figures are the company's own, from the 10-Q it filed with the SEC on 6 May 2026.

Revenue

$2.0 billion

+0.6% on the year · +46.2% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

39.0%

32.2% a year earlier

Q3 FY2024Q2 FY2026

Net income

$582 million

+19.8% on the year · +44.4% on the quarter

Q3 FY2024Q2 FY2026

Diluted EPS

$3.47

+14.5% on the year · +42.2% on the quarter

Q3 FY2024Q2 FY2026

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

What management said

Guidance figures: 1 raised, 2 kept.

Diluted EPS of $5.92 reported: The release lists earnings per diluted share of $5.92 on net income of $984.9 million under Fiscal Year Highlights. The period those totals cover is not further specified.
Fiscal 2026 EPS guidance raised: Fiscal 2026 EPS guidance range moved up to $8.40 to $8.50 per diluted share from $8.15 to $8.35.
Capital expenditures of $2.0 billion: The company reported capital expenditures of $2.0 billion, against $1.0 billion in the first quarter release.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	1,962	1,343	1,951	+46.2%	+0.6%
Cost of revenue	n/a	n/a	779
Gross profit	n/a	n/a	1,171
Gross margin	n/a	n/a	60.0%
Operating income	765	515	629	+48.6%	+21.6%
Operating margin	39.0%	38.3%	32.2%
Interest expense	48.7	33.4	50.0	+45.8%	-2.6%
Pre-tax income	734	504	603	+45.7%	+21.6%
Income tax	152	101	118	+50.8%	+29.1%
Effective tax rate	20.7%	20.0%	19.5%
Net income	582	403	486	+44.4%	+19.8%
Net margin	29.7%	30.0%	24.9%
Diluted EPS	$3.47	$2.44	$3.03	+42.2%	+14.5%

$ million except per share.

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	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	723	308	923	+134.9%	-21.6%
Capital expenditure	1,004	1,033	840	-2.9%	+19.5%
Free cash flow	-280	-725	83.3
Free cash flow margin	-14.3%	-54.0%	4.3%
Cash from investing	-1,000	-1,036	-829
Cash from financing	32.2	895	-139	-96.4%
Depreciation and amortisation	196	195	183	+0.5%	+7.1%
Dividends paid	164	160	138	+2.3%	+18.6%
Dividend per share	$1.00	$1.00	$0.87	0.0%	+14.9%
Diluted shares, weighted	168m	165m	160m	+1.8%	+4.6%
Shares outstanding at period end	167m	165m	159m	+0.9%	+5.1%

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	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	14,909	14,283	13,138	+4.4%	+13.5%
Debt	9,629	9,633	8,506	-0.0%	+13.2%
Other liabilities	5,842	5,883	5,336	-0.7%	+9.5%
Total liabilities and equity	30,380	29,798	26,980	+2.0%	+12.6%
Goodwill	731	731	731	0.0%	0.0%
Intangible assets	70.4	72.8	78.9	-3.2%	-10.7%
Cash and equivalents	126	367	544	-65.8%	-76.9%
Receivables	645	731	661	-11.8%	-2.4%
Other assets	28,808	27,896	24,966	+3.3%	+15.4%
Total assets	30,380	29,798	26,980	+2.0%	+12.6%

Questions

What was Atmos Energy's revenue in Q2 FY2026?

Atmos Energy (ATO) reported revenue of $2.0 billion for Q2 FY2026, the quarter ended 31 March 2026, up 0.6% on the same quarter a year earlier.

How much did Atmos Energy earn in Q2 FY2026?

Net income for Q2 FY2026 was $582 million, up 19.8% on the year, and diluted earnings per share $3.47.

When did Atmos Energy report Q2 FY2026 results?

Atmos Energy filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 6 May 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 March 2026, filed 6 May 2026: the filing.