Atmos Energy Corp

ATO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$717.00	Sfmdpyc	Ltbbwhfmv

Atmos Energy Earnings: Texas Continues to Drive Growth

Andrew Bischof

Feb 7, 2024

We are reaffirming our $113 per share fair value estimate after Atmos reported first-quarter fiscal 2024 earnings per share of $2.08, up 9% compared with the same year-ago period. Atmos now trades in line with our fair value estimate as of Feb. 7 after trading at a 14% premium to our fair value estimate last July. Our narrow moat and stable moat trend remain unchanged.

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