Atmos Energy (ATO) Q4 2025 10-Q Quarterly Report

Filed: Feb 3, 2026Period ending Dec 31, 2025
Utilities
Natural Gas DistributionSEC EDGAR

Atmos Energy (ATO) 10-Q quarterly report for Q4 2025, filed with SEC EDGAR on Feb 3, 2026 for the fiscal period ending Dec 31, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.

Atmos Energy Q4 2025 10-Q Analysis

Management Discussion & Analysis

  • Revenue $1.26B, up $149.5M (+13.5%) YoY; Distribution segment $1.26B (+$149.5M), Pipeline & Storage $287M (+$31.2M)
  • Operating income margin 27.7% vs 28.5% YoY (Distribution: $349.2M, up 10.5%; Pipeline: $165.5M, up 15.4%)
  • Best segment: Distribution Mid-Tex operating income $203.2M (+$34.6M YoY); worst segment: Distribution Mississippi operating income $25.0M (-$9.2M YoY)
  • Operating cash flow $308.1M (+$26.0M YoY); capital expenditures $1.03B (+$146.7M YoY); liquidity $4.6B including $367M cash
  • Management expects continued significant capital spending ($26B FY26-30); approved ratemaking actions add $122.5M annual income; headwinds include increased employee and compliance costs

Risk Factors

  • No new or changed risk factors from 10-K for fiscal year ended September 30, 2025
  • Legal compliance stable, no director or officer adopted/terminated Rule 10b5-1 trading plans Q1 FY2025
  • No updates on liquidity, debt maturity, or currency exposure risks disclosed in this filing
  • Operational and competitive risks carried forward unchanged from prior annual report
  • Regulatory and legal risks remain consistent with disclosures in last 10-K filing; no new compliance issues

Atmos Energy Q4 2025 Quarterly Financials
XBRL

Revenue

$1.3B

+14.2% YoY

Net Income

$403M

+14.5% YoY

Operating Margin

38.3%

-73bp YoY

Net Margin

30.0%

+9bp YoY

ROE

2.8%

+7bp YoY

Total Assets

$29.8B

+12.5% YoY

EPS (Diluted)

$2.44

+9.4% YoY

Operating Cash Flow

$308M

+9.2% YoY

Source: XBRL data from Atmos Energy Q4 2025 10-Q filing on SEC EDGAR. All figures in USD.

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