Atmos projects capital expenditures ranging from $2.4 billion to $2.5 billion during the 2022 fiscal year.
During a May 5 call with financial analysts, company officials also reported capital expenditures of $1.19 billion for the six months ending March 31. Looking forward, company officials project capital expenditures ranging from $2.4 billion to $2.5 billion during the 2022 fiscal year.
Dallas-based Atmos Energy, the country’s largest natural gas-only distributor, serves more than 3 million customers in Texas and seven other states. It also manages one of the largest intrastate natural gas pipeline systems in Texas.
Quarterly Financial Results
In its May 5 call with analysts, the company also reported the following financial information for the three months ending March 31:
- Consolidated operating income increased $3.3 million to $385.1 million, from $381.8 million in the prior-year quarter.
- Distribution operating income increased $8 million to $311.3, compared with $303.3 million in the prior-year quarter.
- Pipeline and storage operating income decreased $4.7 million to $73.8 million, compared with $78.5 million in the prior-year quarter.
Texas Rate Case Information
The company also summarized recent and ongoing of rate case activity in Texas. This included a $21.7 million Rate Revenue Mechanism (“RRM”) settlement for its Mid-Tex division, and a $200,000 West Texas RRM. Rate case activity in progress included a potential $92.7 million RRM for the company’s Mid-Tex region; Gas Reliability Infrastructure Program (“GRIP”) filings for its Mid-Tex region totaling $18.5 million; a $13.6 million Mid-Tex Dallas Annual Rate Review (“DARR”) filing; GRIP filings for its West Texas division totaling $8.9 million, and an $8.2 million West Texas Cities RRM.
For more information about RRM and GRIP rate filings, see the analysis here.
For more information about the company’s quarterly report, see its slide deck presentation here.