Atmos Energy Boosts Full-Year Profit Outlook on Rising Natural Gas Demand and Lower Purchased Gas Costs

In light of their recent financial results, natural gas utility company Atmos Energy has raised its projected full-year profit, following a significant increase in quarterly earnings. The organization attributed this improvement to a noticeable uptick in demand for natural gas, particularly in areas experiencing severe weather conditions that contribute to an overall rise in electricity demand. Notably, the company recorded a substantial decrease in the cost of purchased gas, which represents a significant expense for the organization. This drop in expenditure can be attributed to the declining price of natural gas over the past year. As a result, Atmos Energy now anticipates an annual profit ranging from $6.70 to $6.80 per share, exceeding its previous forecast of $6.45 to $6.65 per share. This news was shared in a statement released by the company on May 8, 2024, as reported by Reuters.