Atmos Energy Corp

ATO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$848.00	Mrfsth	Gpbhdbzg

Atmos Energy Earnings: Rate Increases, Management Execution, and Customer Growth Drive Earnings

Andrew Bischof

May 4, 2023

We are reaffirming our $106 per share fair value estimate after Atmos Energy reported second-quarter fiscal 2023 earnings per share of $2.48, compared with $2.37 in the same year-ago period. The company narrowed its 2023 full-year operating EPS guidance to $6.00 to $6.10, up from $5.90 to $6.10. The narrowed range is consistent with our current $6.03 EPS estimate.

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