Atmos Energy Corporation (ATO) has reported a 45.61 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $34.24 million, or $0.33 a share in the quarter, compared with $23.52 million, or $0.23 a share for the same period last year.
Operating income for the quarter was $84.63 million, compared with $75.85 million in the previous year period.
"We are pleased to deliver solid earnings per share growth for the 14th consecutive year," said Kim Cocklin, chief executive officer of Atmos Energy Corporation. "We have continued to execute our growth strategy of infrastructure investment, which benefits our customers and provides an attractive return to our shareholders. In addition, we will further minimize our business risk upon the closing of the announced sale of our marketing business, which will result in Atmos Energy becoming a fully regulated, pure-play natural gas utility. Finally, we are well positioned to deliver earnings per diluted share of between $3.45 and $3.65 in fiscal 2017, which supports our commitment to deliver annual earnings per share growth in the six to eight percent range," Cocklin concluded.
For fiscal year 2017, Atmos Energy Corporation forecasts net income to be in the range of $365 million to $390 million. The company projects diluted earnings per share to be in the range of $3.45 to $3.65.
Operating cash flow falls marginally
Atmos Energy Corporation has generated cash of $794.99 million from operating activities during the year, down 2.08 percent or $16.92 million, when compared with the last year.
The company has spent $1,079.73 million cash to meet investing activities during the year as against cash outgo of $956.60 million in the last year.
Cash flow from financing activities was $303.62 million for the year, up 131.63 percent or $172.54 million, when compared with the last year.
Cash and cash equivalents stood at $47.53 million as on Sep. 30, 2016, up 65.90 percent or $18.88 million from $28.65 million on Sep. 30, 2015.
Debt moves up
Atmos Energy Corporation has witnessed an increase in total debt over the last one year. It stood at $3,268.59 million as on Sep. 30, 2016, up 12.89 percent or $373.15 million from $2,895.44 million on Sep. 30, 2015. Total debt was 32.65 percent of total assets as on Sep. 30, 2016, compared with 31.84 percent on Sep. 30, 2015. Debt to equity ratio was at 0.94 as on Sep. 30, 2016, up from 0.91 as on Sep. 30, 2015. Interest coverage ratio improved to 2.80 for the quarter from 2.44 for the same period last year.
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