During the three months ending June 30, Atmos reports it spent about $1 billion on capital projects, which is nearly 20 percent more than the $866.9 million it spent during the same period in 2025.
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Atmos Energy continues spending more and increasing its revenues — largely as the result of rate actions in Texas — according to data released by the Dallas-based utility company.
During the three months ending June 30, for instance, Atmos reports it spent about $1 billion on capital projects, which is nearly 20 percent more than the $866.9 million it spent during the same period in 2025. Over that same period, operating income increased from $252.1 million to $320.4 million.
All told Atmos reports spending more than $3 billion on capital projects year-to-date for fiscal 2026 and expects to spend $4.2 billion on capital projects for the entire fiscal year. That’s up from the $3.6 billion it spent in FY 2025.
These top-line figures and others were released by Atmos executives on Aug. 6 during its regular quarterly call with financial analysts. Other call details include:
- Atmos spent $90 million on its distribution systems and $153 million on its pipeline and storage systems during the three months ending on June 30. Those represent increases over what it spent during the same period in 2025.
- Atmos reported operating income of $109.1 million on its distribution systems during the quarter ending June 30, and $211.3 million over the same period on its pipeline and storage holdings. This spending represents an increase over the same period in 2025.
- Operating income over the most recent quarter was driven, in part, by a $21 million net increase from rate adjustments, primarily in its Mid-Tex Division (around the Dallas/Fort Worth Area), as well as a $3.9 million increase due to residential growth primarily in the Mid-Tex Division; a $35.1 million increase from Texas Gas Reliability Infrastructure Program filings; and $38.8 million in cost deferrals related to infrastructure spending on its distribution, pipeline and storage sectors.
- Year to date, the company has spent $1.5 billion to repair and replace transmission and distribution pipelines, $367 million on service line replacement; and $170 million to enhance storage and compression capabilities.
- Atmos reported $396.1 million in rate increases during the fiscal year, including an $138.5 million Rate Review Mechanism increase in the Atmos Mid-Tex region, an $112.2 million Atmos Pipeline Gas Reliability Infrastructure increase, a $32.1 million Dallas Area Rate Review increase, a $28.2 million Mid-Texas ATM GRIP increase, a $15.5 million Mid-Tx Environs GRIP increase and and a $14.7 million West Texas ALDC GRIP increase. Among its in-progress rate cases is a $273 million Atmos Rate Review Mechanism filings for its Mid-Tex region.
About Atmos
Atmos Energy is the country’s largest natural gas-only distributor. The company serves more than 3.3 million distribution customers in over 1,400 communities across eight states located primarily in the South. Atmos also manages proprietary pipeline and storage assets. Its most substantial holdings are in Texas.