Atmos Energy Corporation is the largest natural-gas-only distributor in the United States, serving over 3.3 million customers across eight states, primarily in the South. The company's core business involves the regulated distribution and transportation of natural gas. Atmos Energy also operates one of the largest intrastate pipeline systems in Texas. The company's strategy focuses on modernizing infrastructure, reducing regulatory lag, and investing in safety, innovation, and environmental sustainability.

• Employees: 5,260 (as of September 30, 2024)
• Geographic Footprint: 8 states primarily in the South
• Headquarters: Dallas, Texas
• Founded: Incorporated in Texas and Virginia
• Number of locations/facilities: 34 pipeline transportation companies, 5 underground storage facilities in Texas
• Revenue: $4.2 billion (FY2024)
• Market Capitalization: $17.8 billion (as of March 31, 2024)
• Key Subsidiaries/Brands: Atmos Pipeline-Texas (APT), Atmos Energy Kansas Securitization I, LLC (AEK)

• CEO: John K. Akers (President, Chief Executive Officer and Director)
• CFO: Christopher T. Forsythe (Senior Vice President and Chief Financial Officer)
• Other Key Executives: John S. McDill (Senior Vice President, Utility Operations), Karen E. Hartsfield (Senior Vice President, General Counsel and Corporate Secretary), John M. Robbins (Senior Vice President, Human Resources)

John K. Akers has been CEO since October 1, 2019. Christopher T. Forsythe has been CFO since February 1, 2017.

• Annual Revenue: $4.2 billion (FY2024)
• Net Income: $1.04 billion (FY2024)
• Market Cap: $17.8 billion (as of March 31, 2024)
• Total Assets: $25.2 billion (as of September 30, 2024)
• Employees: 5,260 (as of September 30, 2024)
• Key Financial Highlights: Net income increased by $157 million year-over-year, driven by positive rate outcomes and legislation reducing property tax expenses in Texas.

Atmos Energy's main products and services include:

• Natural Gas Distribution: Regulated sales and transportation of natural gas to residential, commercial, public authority, and industrial customers.
• Natural Gas Transportation and Storage: Regulated pipeline and storage services, primarily in Texas and Louisiana.

The company's distribution segment serves over 3.3 million customers, and its pipeline and storage segment provides services to its Mid-Tex division and other third parties.

Atmos Energy operates through two reportable segments:

• Distribution Segment: Regulated natural gas distribution and related sales operations in eight states. This segment accounted for $671.4 million in net income for FY2024.
• Pipeline and Storage Segment: Regulated pipeline and storage operations primarily in Texas and Louisiana. This segment accounted for $371.5 million in net income for FY2024.

Atmos Energy's strategy is focused on:

• Modernizing infrastructure to enhance safety and reliability.
• Reducing regulatory lag through rate mechanisms and infrastructure programs.
• Investing in environmental sustainability and innovation.
• Maintaining a strong financial position through access to capital markets and effective cost management.

The company is committed to providing safe and reliable natural gas services while achieving superior financial results.

Atmos Energy operates primarily in the natural gas distribution industry. Key aspects of the industry include:

• Market Position: Largest natural-gas-only distributor in the U.S.
• Key Competitors: Competes with other natural gas suppliers, electric utilities, and alternative energy sources.
• Industry Trends: Increasing focus on infrastructure modernization, safety, and environmental sustainability.

The company's operations are subject to federal, state, and local regulations, and it faces competition from other energy providers.

• Regulatory and Legislative Risks: Changes in federal, state, and local regulations could affect operations and financial results.
• Operational Risks: Risks associated with pipeline integrity, accidents, and supply disruptions.
• Competition: Increased competition from other energy sources and alternative fuels.
• Financial Risks: Exposure to market risks, including commodity price volatility and interest rate fluctuations.
• Cybersecurity Risks: Potential disruptions from cyber-attacks or acts of cyber-terrorism.