Atmos Energy Corporation is a natural gas distribution and pipeline company headquartered in Dallas, Texas. In fiscal year 2008, the company reported $180.3 million in net income on $7.2 billion in operating revenues. Atmos Energy distributes natural gas to 3.2 million customers in 1,600 communities across 8 states. The company has grown significantly through acquisitions, adding over 2.7 million customers since 1983. Atmos Energy aims to continue growing its regulated natural gas distribution operations and complementary nonregulated energy businesses.
Nordstrom reported financial results for fiscal year 2001 with net sales increasing 1.9% to $5.6 billion and net earnings growing 22.3% to $124.7 million. Nordstrom saw comparable store sales growth and increased sales per square foot. The company focused on offering great styles, value, and customer service during challenging times for retail. Nordstrom implemented Perpetual Inventory to improve inventory management and the customer experience.
The 2001 Annual Report for Adolph Coors Company discusses:
1) Coors made progress in key areas like reducing costs and improving operations despite challenges in a tough market environment.
2) Coors grew profits over 5% despite volume declines and cost pressures, showing results from efficiency improvements.
3) Coors maintained investments in brands and formed a new venture with Ball Corporation to make aluminum cans, while outsourcing IT and selling distributorships to focus on core brewing business.
This document is the 2004 annual report of Gannett Co., Inc. It summarizes the company's strong financial performance in 2004, with record revenues of $7.4 billion, net income of $1.32 billion, and diluted earnings per share of $4.92. The CEO credits these results to the company's strategies of pursuing growth opportunities, delivering news and information across multiple platforms, and investing in people and new technologies. Challenges in 2004 included an uneven economy and restrictive media ownership regulations.
Yum! Brands had a very successful financial year in 2002, with revenue growth of 12% and ongoing operating earnings per share growth of 19%. A key driver of growth was the company's international business, where ongoing operating profits grew 22% and over 1,000 new restaurants were opened. Looking ahead, Yum! Brands plans to double its number of international restaurants in the next 8-10 years. Additionally, the company sees potential to expand in the US through its strategy of "multibranding", which involves offering multiple brands like KFC, Taco Bell, and Pizza Hut under the same roof. This allows Yum! to drive higher sales and pursue new market opportunities. The goal is to remodel
Capital One had a remarkable year in 1997, setting records for financial and operating performance. They added 3.2 million new customers, ending the year with 11.7 million accounts. Capital One's success demonstrates the power of their information-based strategy and innovation. Going forward, they see opportunity for continued growth in the US and internationally by applying their strategy of mass customization.
This document is Xcel Energy's 2003 annual report. It provides the following key information:
1) Xcel Energy is a major electric and natural gas utility serving 3.3 million electricity customers and 1.8 million natural gas customers across 11 Western and Midwestern states.
2) In 2003, Xcel Energy met its earnings target of $1.23 per share from continuing operations, despite challenges including higher costs and less favorable weather. Total earnings were $1.50 per share.
3) Key priorities and accomplishments in 2003 included refinancing debt at lower rates, divesting from NRG Energy, and operational successes like generating and safety records at several plants.
Nordstrom reported financial results for fiscal year 2001 with net sales increasing 1.9% to $5.6 billion and net earnings growing 22.3% to $124.7 million. Nordstrom saw comparable store sales growth and increased sales per square foot. The company focused on offering great styles, value, and customer service during challenging times for retail. Nordstrom implemented Perpetual Inventory to improve inventory management and the customer experience.
The 2001 Annual Report for Adolph Coors Company discusses:
1) Coors made progress in key areas like reducing costs and improving operations despite challenges in a tough market environment.
2) Coors grew profits over 5% despite volume declines and cost pressures, showing results from efficiency improvements.
3) Coors maintained investments in brands and formed a new venture with Ball Corporation to make aluminum cans, while outsourcing IT and selling distributorships to focus on core brewing business.
This document is the 2004 annual report of Gannett Co., Inc. It summarizes the company's strong financial performance in 2004, with record revenues of $7.4 billion, net income of $1.32 billion, and diluted earnings per share of $4.92. The CEO credits these results to the company's strategies of pursuing growth opportunities, delivering news and information across multiple platforms, and investing in people and new technologies. Challenges in 2004 included an uneven economy and restrictive media ownership regulations.
Yum! Brands achieved 13% earnings per share growth in 2005, driven by continued international expansion and strong performance in the US at Taco Bell and KFC. The company's diversified global portfolio helped it weather challenges like high gas prices and avian flu concerns. International markets contributed significantly to growth, with the franchise business achieving double digit sales and profit increases and over 700 new restaurants opening internationally. The company is focused on further developing high growth markets like China, India, Russia, and Europe to drive continued profitable expansion.
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3 Drive Same Store Sales same store sales growth at Taco Bell and KFC in the U.S.
Growth Through was outstanding. Taco Bell achieved a remarkable
This annual report summarizes Universal Health Services' performance and activities over the past year (2003). Some key points:
- UHS saw strong financial growth in 2003 with $3.64 billion in revenues (12% increase) and $199.3 million in net income (14% increase).
- The company expanded through strategic acquisitions, adding over 500 beds across several new facilities.
- Construction progressed on new hospitals and expansions across UHS's existing network of over 100 facilities nationwide and internationally.
- Internally, leadership roles were realigned to facilitate continued growth.
This document is the annual expenditure budget for the Tempe Elementary School District in Maricopa County, Arizona for fiscal year 2012. It provides details on estimated revenues, tax rates, budget limits, and budgeted expenditures for the district. The total aggregate budget limit for the district is $110,349,010 and the total budgeted expenditures are $75,386,784, which is below the budget limit. The largest expenditure categories are for regular education classroom instruction and special education classroom instruction.
- Tricon Global Restaurants owns KFC, Pizza Hut, and Taco Bell restaurant chains. In 2001, the company saw increases in ongoing operating profit, net income, and earnings per share compared to 2000, though total revenues declined slightly.
- The company aims to improve customer satisfaction ratings by focusing on running great restaurants and improving the customer experience, which it recognizes is an area that needs significant improvement. It plans to train employees to have a "Customer Mania" mindset with the goal of becoming the best in the industry for customer service.
The Pantry, Inc. 2001 Annual Report summarizes the company's strategic moves in fiscal 2001 to strengthen its future. Despite challenges from rising gas prices and economic downturn, the company streamlined processes, enhanced efficiency, and implemented technology initiatives like new reporting and inventory systems. It acquired 45 stores to strengthen its market position but curtailed aggressive expansion. The Pantry focused on cost cuts, improving merchandise sales, and leveraging new fuel pricing systems to balance profits and volume in a volatile gas market. It positioned itself to capitalize on future growth opportunities once market conditions improve.
State Street is a global leader in financial services with over 19,800 employees serving clients in 22 countries. In 2001, State Street achieved 8% revenue growth to $3.9 billion and 11% operating earnings growth despite challenging economic conditions. State Street focuses on serving sophisticated global investors through its core competencies of investment servicing, investment management, research, and trading, and by creating integrated solutions to help clients succeed.
This document provides condensed financial statements and management discussion and analysis for Avis Budget Car Rental for the three and six months ended June 30, 2007. It includes an unaudited balance sheet, statement of income, statement of cash flows, and notes. The financial statements show total revenues of $1.5 billion for Q2 2007 and $2.9 billion for the first half of 2007. Net income was $24 million for Q2 and $28 million for the first six months. Cash flows from operations were positive, with $793 million provided in the first half of 2007. Management discussion and analysis provides commentary on results and risks including competition in the vehicle rental industry.
The document summarizes the company's fiscal year 2007 financial results including:
- Net income increased 14% to $168.5 million primarily due to higher contribution from regulated gas distribution and transmission segments from increased throughput and rates.
- Earnings per share increased 5.5% to $1.92 per share.
- Operating expenses increased due to higher labor costs and benefits while impairment charges decreased.
- Capital expenditures totaled $327.4 million focused on regulated gas distribution and transmission systems.
The document summarizes a conference call to review the company's fiscal 2008 first quarter financial results. Key points from the first quarter include a decrease in net income due to lower margins in natural gas marketing, offset by rate increases. Earnings per share also decreased compared to the prior year. Capital expenditures increased compared to the prior year. The document also provides highlights and financial projections for fiscal year 2008.
Realogy Corporation reported its second quarter 2008 results. Net revenue totaled $1.4 billion, EBITDA was $161 million, and net loss was $27 million. Transaction volume declined 21% at Realogy Franchise Group and 19% at NRT compared to the prior year. Average home sale prices decreased 5% at RFG and 8% at NRT. Realogy remains focused on reducing costs and implementing strategic growth initiatives to manage through the challenging housing market.
Atmos Energy reported financial results for fiscal year 2008, with net income of $180.3 million compared to $168.5 million the prior year. Regulated operations contributed $134.1 million of net income compared to $107.9 million the previous year. For the fourth quarter, net income was $1.6 million compared to a net loss of $5.9 million in the prior year fourth quarter, with regulated operations reporting a seasonal net loss of $14.7 million. Atmos Energy affirmed its fiscal year 2009 earnings guidance of $2.05 to $2.15 per diluted share.
Atmos Energy Corporation reported higher earnings for the second quarter and first six months of fiscal year 2007 compared to the same periods in the previous fiscal year. Net income increased 20% for the quarter and 17% for the six months due primarily to improved performance across its utility, pipeline and storage, and natural gas marketing business segments. The company affirmed its fiscal year 2007 earnings guidance range of $1.90 to $2.00 per diluted share and expects capital expenditures for the year to be between $365 to $385 million.
1. The 2008 Annual Meeting of Shareholders of Northeast Utilities will be held on May 13, 2008 at 10:30am at the offices of Public Service Company of New Hampshire.
2. Matters to be voted on include electing 12 trustee nominees and ratifying the selection of Deloitte & Touche LLP as the independent auditors for 2008.
3. Directions to the meeting location in Manchester, NH are provided. Shareholders are urged to vote their shares whether attending the meeting or not.
This document is Capital One's 1996 Annual Report. It summarizes that in 1996, Capital One achieved record financial results including net income increasing 23% to $155.3 million and managed loans increasing 23% to $12.8 billion. Capital One's success is driven by its proprietary information-based strategy which allows it to customize products, manage risk conservatively, and continuously innovate. The company added nearly 2,000 employees in 1996 and remains focused on testing new products.
allstate Highlights & Chairman's Letter 2002finance7
The document provides an annual report from The Allstate Corporation for the year 2002. It summarizes the company's financial highlights for 2002, noting increases in revenues, total assets, and operating income compared to 2001. It also includes a message from the Chairman, Edward M. Liddy, who discusses Allstate's strategy, priorities, and accomplishments in 2002, including improved financial results, risk management actions, and business transformations to broaden offerings and customer base. He expresses confidence in Allstate's position and strategy for continued growth and profitability.
The document summarizes Atmos Energy's financial results for the first quarter of fiscal year 2009. Key points include a 1.2% increase in net income compared to the same period last year, driven primarily by rate increases in several jurisdictions. Capital expenditures totaled $107.4 million for the quarter. Atmos also discusses its credit facilities and liquidity, investment grade credit ratings, and recent rate filings in Louisiana, Dallas and Tennessee.
WESCO International is a leading distributor of electrical products and maintenance supplies. In 2000, WESCO saw sales growth of 13.4% and a 36% increase in net income. Some key highlights include:
- Sales reached $3.9 billion for the year, up from $3.25 billion in 1999.
- Net income increased to $39.4 million, though this was below targets due to restructuring charges taken in response to economic weakness.
- The company acquired three distribution companies during the year to expand its product offerings and geographic coverage.
Atmos Energy Corporation held an analyst conference on February 26, 2009 to discuss forward-looking statements and projections. The company operates regulated natural gas distribution and transmission operations across 12 states as well as nonregulated midstream businesses. It has achieved steady earnings growth per share of over 5% annually through successful rate case strategies and capital investment programs. Management outlined continued growth opportunities in both regulated and nonregulated operations.
This document is Xcel Energy's 2003 annual report. It provides the following key information:
1) Xcel Energy is a major electric and natural gas utility serving 3.3 million electricity customers and 1.8 million natural gas customers across 11 Western and Midwestern states.
2) In 2003, Xcel Energy met its earnings target of $1.23 per share from continuing operations, despite challenges including higher costs and less favorable weather. Total earnings were $1.50 per share.
3) Key priorities and accomplishments in 2003 included refinancing debt at lower rates, divesting from NRG Energy, and operational successes like generating and safety records at several plants.
2008 Merrill Lynch Global Transportation Conference Presentationfinance13
This document discusses UAL Corporation's performance in 2007 and its strategy going forward.
[1] In 2007, UAL had over $1 billion in operating income, over $600 million in pre-tax profit, and $2.1 billion in operating cash flow. [2] However, fresh start accounting significantly affects competitive comparisons of pre-tax income. [3] Going forward, UAL's strategy is focused on "Back to Basics" priorities of industry-leading revenues, competitive costs, service basics like on-time performance, and unrivaled customer satisfaction.
The Pantry, Inc. is the leading independently operated convenience store chain in the southeastern United States, operating 1,653 stores under brands like Kangaroo Express. The company generates revenue primarily from merchandise sales, gasoline sales, and ancillary products and services. Fiscal 2008 was challenging due to unprecedented increases in oil and gasoline prices, but the company took actions to reduce costs and strengthen its financial position, delivering higher net income and earnings per share compared to the previous year.
This document provides a reconciliation of non-GAAP financial measures for a company for three months ended December 31, 2008 and 2007 and for the year ended December 31, 2008 and 2007. It also provides adjusted measures of debt, total capital, total stockholders' equity, and debt to capital ratio as of December 31, 2008 compared to December 31, 2007.
Deutsche EuroShop is Germany's only public company that invests solely in shopping centers. It owns 18 shopping centers located primarily in Germany but also in Poland, Austria, and Hungary. The company focuses on acquiring and developing shopping centers with stable rent growth and high occupancy rates. Its goals include net asset value enhancement, stable dividends, and portfolio expansion through new acquisitions and developments.
This document discusses Petrobras' supply chain for developing pre-salt oil reserves off the coast of Rio de Janeiro. It provides an overview of Petrobras' corporate organization, key financial results, investment plan, cash flow, integrated upstream and downstream operations, and growing production profile. The pre-salt province covers an area of 112,000 square kilometers, of which Petrobras has interests in 35,000 square kilometers. Petrobras expects its oil and gas production to grow rapidly at annual rates of 7.7-8.7% through 2018 as it develops these new pre-salt reserves.
15 09-2008 Almir Guilherme Barbassa - Supply Chain for the Pre-salt Developme...Petrobras
The document discusses Petrobras' supply chain challenges for developing Brazil's pre-salt oil reserves. It notes that critical resources like equipment, human resources, and rising costs present challenges. Petrobras is addressing these by aggressively contracting new rigs, vessels, and long-term agreements with suppliers. It is also supporting expanded industry capacity and employee training programs. Details are provided on new rigs and vessels to be contracted through 2017 to develop the pre-salt fields offshore Brazil.
WESCO International is a leading distributor of electrical products and other maintenance, repair and operating supplies. In 1999, WESCO saw record sales of $3.4 billion and net income of $35.1 million. The company operates over 340 branches across North America and focuses on exceptional customer service, a wide selection of quality products, and reliable logistics to ensure on-time delivery.
WESCO International is a leading distributor of electrical products and other maintenance, repair and operating supplies. In 1999, WESCO saw record sales of $3.4 billion and net income of $35.1 million. The company operates over 340 branches across North America and focuses on exceptional customer service, a wide selection of quality products, and reliable logistics to ensure on-time delivery.
The document summarizes the financial results of a company for fiscal year 2008 and the fourth quarter of 2008. Some key points:
- For fiscal 2008, net income increased 7% to $168.5 million due to rate increases and higher transportation volumes, while O&M expenses also increased.
- Fourth quarter 2008 net income improved significantly from a loss in 2007, driven by higher distribution and marketing margins as well as increased transportation. However, O&M expenses also rose substantially for the quarter.
- Capital expenditures for the year totaled $472 million, with most spent on gas distribution and regulated transmission/storage systems.
Hexion reported financial results for Q4 2008 and fiscal year 2008. Q4 revenue declined 20% year-over-year to $1.18 billion due to weak market conditions and inventory destocking by customers amid the global recession. The company reported an operating loss of $876 million for Q4, which included $800 million in costs related to the terminated Huntsman merger. For the full year, revenues increased 5% to $6.09 billion but the company reported an operating loss of $893 million. Hexion is taking aggressive actions to reduce costs and enhance liquidity to address challenges in this difficult market environment.
Quest Diagnostics is the leading provider of diagnostic testing in the US. In 2001, the company achieved record sales and earnings while strengthening its financial position. It also realized initial benefits from its Six Sigma quality initiative, which is aimed at improving patient care. Quest Diagnostics has a national network of laboratories and patient service centers that make diagnostic testing convenient for physicians and patients. Its pursuit of Six Sigma Quality is helping to differentiate the company.
DTE Energy reported first quarter earnings of $138 million compared to $117 million in the first quarter of 2000. Revenue from non-regulated businesses increased 251% to $817 million, contributing to increased earnings. The results were positively impacted by the suspension of the fuel clause and the company expects to complete its merger with MCN Energy in June, which is an important part of DTE Energy's growth strategy.
DTE Energy reported first quarter earnings of $138 million compared to $117 million in the first quarter of 2000. Revenue from non-regulated businesses increased 251% to $817 million, contributing to increased earnings. The results were positively impacted by the suspension of the fuel clause and the company expects to complete its merger with MCN Energy in June, which is an important part of DTE Energy's growth strategy.
State Street is a global leader in financial services with over 19,800 employees serving clients in 22 countries. In 2001, State Street achieved 8% revenue growth to $3.9 billion and 11% operating earnings growth despite challenging economic conditions. State Street focuses on serving sophisticated global investors through its core competencies of investment servicing, investment management, research, and trading, and by creating integrated solutions to help clients succeed.
This financial review provides operating and financial information for Northeast Utilities (NU) and its subsidiaries through June 30, 2008. Key information includes:
- NU's consolidated revenues for 2007 were $5.822 billion and operating income was $539 million.
- The largest subsidiary, The Connecticut Light and Power Company (CL&P), had revenues of $3.682 billion in 2007 and operating income of $285 million.
- Financial information such as sales, revenues, income, capitalization, debt ratings and dividend payments are presented for NU, CL&P and other subsidiaries from 2007 back to 2003.
- Net sales increased significantly from $4.74 billion in 1999 to $7.13 billion in 2000. Net income increased slightly from $515.8 million in 1999 to $422 million in 2000.
- The Telecommunications segment saw the largest increase in revenues from $2.96 billion in 1999 to $5.12 billion in 2000, driving the overall revenue growth.
- Pro forma diluted earnings per share, which excludes certain one-time items, increased from $0.67 in 1999 to $1.23 in 2000 despite a smaller increase in net income, reflecting share repurchases.
This annual report summarizes Corning Inc.'s financial performance in 2001, which saw a significant downturn from 2000 due to challenging conditions in the telecommunications sector and global economic weakness. Net sales fell 12% to $6.3 billion and the company reported a net loss of $5.5 billion compared to net income of $409 million in 2000. Corning took actions to reduce costs, including eliminating 12,000 jobs and closing plants. However, the company ended 2001 with $2.2 billion in cash and believes it is well positioned financially and strategically for long-term growth opportunities in key markets like optical fiber and displays.
The annual report summarizes Corning's financial performance in 2002, a challenging year due to the downturn in the telecommunications industry. Corning reported a net loss of $1.3 billion on sales of $3.2 billion, down significantly from 2001. In response, Corning restructured operations, cutting costs and jobs to preserve its financial position. It aims to return to profitability in 2003 by focusing on growing its display glass, environmental, and semiconductor businesses within Corning Technologies. While telecommunications remains weak, Corning maintains its leadership in optical fiber and intends to benefit when the market rebounds.
Corning Inc. is a 152-year-old diversified technology company that focuses on high-impact growth opportunities through specialty glass, ceramics, polymers, and light manipulation. It develops innovative products for telecommunications, displays, environmental, life sciences, semiconductors, and other materials markets. The 2003 annual report discusses priorities of protecting financial health, returning to profitability, and continuing to invest in the future. It emphasizes growth through global innovation, achieving balance and stability, and preserving trust through living the company's values.
The document is Corning's 2006 Annual Report and 2007 Proxy Statement. It provides an overview of Corning's financial performance and highlights in 2006, including record net income and earnings per share. It discusses Corning's strategies of protecting financial health, improving profitability, and investing in the future. It also outlines Corning's leadership transition with Wendell Weeks becoming Chairman and CEO and Peter Volanakis becoming President. Key financial figures for 2006 show net sales of $5.17 billion and net income of $1.85 billion, up significantly from 2005.
Corning Inc. reported strong financial performance in its 2007 Annual Report. Net income reached an all-time high of $2.15 billion, up 16% from 2006. Sales increased 13% to $5.86 billion, driven by high demand for LCD glass and new diesel filtration products. Corning also achieved records for earnings per share at $1.34 and operating cash flow at $2.1 billion. The report discusses Corning's strategy of focusing on innovation to drive growth, maintaining financial stability, and improving business portfolio balance. Key accomplishments in 2007 included expanding LCD glass capacity and developing innovations in optical fiber and life sciences technologies.
Corning posted record performance in the first half of 2008 but experienced weak performance in the second half due to the global recession. While sales were up 21% in the first half, they declined 30% in the fourth quarter compared to the third quarter and previous year. Corning implemented cost-cutting measures like job cuts and spending reductions to prepare for a weak 2009. However, Corning remains confident in its long-term strategies and innovative products to drive future growth once the economy recovers.
Atmos Energy Corporation is a natural gas distribution and pipeline company headquartered in Dallas, Texas. In fiscal year 2008, the company reported $180.3 million in net income on $7.2 billion in operating revenues. Atmos Energy distributes natural gas to 3.2 million customers across 12 states and owns one of the largest intrastate pipeline systems in Texas. The company has grown through acquisitions, adding over 2.9 million customers since 1983, and pursues a strategy of growing its regulated and complementary nonregulated natural gas businesses.
Atmos Energy Corporation will host a conference call on February 4, 2009 at 8:00 am ET to discuss its fiscal 2009 first quarter financial results. Atmos Energy, headquartered in Dallas, is the largest natural gas-only distributor in the US, serving about 3.2 million customers across 12 states. Interested parties can access the conference call by dialing 800-218-0204 or listening online at Atmos Energy's website, where an archive of the call will also be made available until April 30, 2009.
Atmos Energy Corporation reported earnings for the first quarter of fiscal year 2009. Net income was $76.0 million, up slightly from $73.8 million in the prior year. Regulated gas distribution operations contributed $57.8 million in net income, up 25% from the prior year. The company affirmed its fiscal year 2009 earnings guidance of $2.05 to $2.15 per share, excluding mark-to-market impacts. Capital expenditures for the year are expected to be $500-$515 million.
Atmos Energy Corporation declared a quarterly dividend of 33 cents per share to shareholders of record on February 25, 2009. This marks the company's 101st consecutive quarterly dividend. Atmos Energy is the country's largest natural-gas-only distributor, serving about 3.2 million customers across 12 states. It also provides natural gas marketing and pipeline management services.
Fred Meisenheimer was promoted to senior vice president and chief financial officer of Atmos Energy Corporation. Meisenheimer has been acting as interim CFO since January 1, 2009. He joined Atmos Energy in 2000 as vice president and controller and has made valuable contributions to the company's success over eight years. Prior to joining Atmos Energy, Meisenheimer held financial and accounting roles at other energy companies.
This document provides an overview of the nonutility operations of Atmos Energy Corporation. It discusses the corporate structure and business segments, including gas marketing, pipeline and storage, and other nonutility operations. It then provides more detailed descriptions of the storage business models, including proprietary storage, full requirements storage, billable plan storage, and parking and loaning transactions. The storage business models are explained in terms of associated risks, risk management strategies, and impact on margins.
The document discusses forward-looking statements and risks associated with them. It provides an overview of Atmos Energy, including its scope of operations across 12 states in the utility segment and 22 states in the nonutility segment. It also summarizes Atmos Energy's financial and operational performance over time, including earnings growth, dividend increases, and acquisition history such as the purchase of TXU Gas.
A conference call was scheduled for February 8, 2006 at 8:00 am EST to review the company's fiscal 2006 first quarter financial results. The company reported a net income of $100 million, up 19% from the prior year quarter. Earnings per share were $0.88, up 11% from the previous year. Key drivers included a contribution from acquisitions and weather that was colder than the prior year. The utility segment saw higher throughput and gross profit.
The document summarizes a conference call to review the company's fiscal 2006 second quarter financial results. Key points from the quarter include a 1.3% increase in net income compared to the prior year quarter, driven by higher contributions from the natural gas marketing segment due to favorable storage and marketing positions. Earnings per share increased 1.3% while operating expenses rose due to higher employee, bad debt, and regulatory costs. Weather during the quarter was warmer than normal, negatively impacting utility throughput.
The document discusses a conference call to review the company's fiscal 2006 third quarter financial results. It provides details on the company's net income, earnings per share, capital expenditures, and performance by business segment for the quarter. The company reported a net loss for the quarter, driven by unrealized mark-to-market losses in natural gas marketing and warmer than normal weather across many utility divisions.
The document summarizes the company's financial results for fiscal year 2006. Key points include:
- Net income increased 20% to $170 million due to higher contributions from nonutility businesses and rate increases.
- Earnings per share increased 16% to $2.00, despite warmer than normal weather reducing utility revenues.
- Gross profit increased $98.9 million primarily from higher natural gas marketing margins and increased pipeline volumes.
- Higher O&M and interest expenses partially offset revenue gains. Overall the company delivered results within its guidance range for the year.
The document summarizes a conference call to review the company's financial results for the first quarter of fiscal year 2007. Key highlights included a 14.5% increase in net income compared to the same period last year, driven by increased contributions from nonutility businesses. Earnings per share were up 10% year-over-year. Capital expenditures totaled $65.2 million for maintenance and $21.8 million for growth. The company also completed a common stock offering in December, raising $192 million in net proceeds.
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atmos enerrgy FS1Q09s
1. A t m o s E n e r g y C o r p o r a t i o n Fa c t s
Financial Highlights as of December 31, 2008, unless noted Atmos Energy Corporation Dividend Record
New York Stock Exchange symbol ATO
Dividends in U.S. Dollars by Fiscal Year as Adjusted for Mergers and Acquisitions
Fiscal year end September 30
Market capitalization $2,171 million 1.30 1.32
1.26 1.28
1.22 1.24
1.18 1.20
1.14 1.16
Total shares outstanding 91.6 million 1.10
1.06
1.01
.96 .98
Fiscal 2008 consolidated net income $180.3 million .91
.82
.79
Fiscal 2008 diluted earnings per share $2.00 .75
.73 .74
.71
Fiscal 2008 operating revenues $7,221 million .54
.50
Fiscal 2009 indicated dividend rate $1.32 .40
.35
Dividend yield 5.6%
Total assets $6,819 million
’84 ’85 ’86 ’87 ’88 ’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08 ’09
Atmos Energy Corporation Profile
Atmos Energy Corporation, headquartered in Dallas, Texas, is the largest natural-gas-only distributor in the United States. Our regulated natu-
ral gas distribution operations serve about 3.2 million customers in some 1,600 communities. We have regulated assets in Colorado, Georgia,
Illinois, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Tennessee, Texas and Virginia as well as one of the largest intrastate natural
gas pipeline systems in Texas. Our nonregulated operations provide natural gas marketing and procurement services to industrial, commercial
and municipal customers primarily in the Midwest and Southeast and manage natural gas pipeline, storage and other assets.
Atmos Energy Operations
Atmos Energy Marketing
Owensboro, KY
Atmos Energy
Colorado-Kansas Division
Denver, CO
Loudon, TN
Atmos Energy
Kentucky/Mid-States Division
Atmos Energy Marketing
Bolivar, TN
Franklin, TN
Atmos Energy Corporation
Dallas, TX Columbia, TN
Atmos Energy
West Texas Division
Lubbock, TX
Atmos Energy
Atmos Energy Mississippi Division
Carthage Hub
Mid-Tex Division Jackson, MS
Waha Hub Atmos Pipeline–Texas Division
Atmos Energy Marketing
Dallas, TX
Atmos Energy Marketing
Katy Hub
New Orleans, LA
Atmos Energy Marketing Atmos Energy
Houston, TX Louisiana Division
Baton Rouge, LA
Atmos Energy Marketing headquarters
Atmos Energy Corporation headquarters Atmos Energy states of operation
Atmos Energy Marketing regional offices
Natural gas distribution division headquarters Major gas delivery hub
Natural gas distribution service area Proprietary natural gas storage Distributed generation
2. Atmos Energy Corporation Financial Highlights (Unaudited)
Three Months Ended December 31 Year Ended December 31
Statements of Income (000s except per share amounts) 2008 2007 2008 2007
Operating revenues $ 1,716,332 $ 1,657,510 $ 7,221,305 $ 5,898,431
Purchased gas cost 1,321,120 1,287,872 5,899,979 4,648,349
Gross profit 395,212 369,638 1,321,326 1,250,082
Operation and maintenance expense 134,755 121,189 500,234 463,373
Depreciation and amortization 53,126 48,513 200,442 198,863
Taxes, other than income 44,137 41,427 192,755 182,866
Total operating expenses 232,018 211,129 893,431 851,446
Operating income 163,194 158,509 427,895 398,636
Miscellaneous expense (301) (93) 2,731 9,184
Interest charges 38,991 36,817 137,922 145,236
Income before income taxes 123,902 121,599 292,704 362,584
Income tax expense 47,939 47,796 112,373 94,092
Net income $ 75,963 $ 73,803 $ 180,331 $ 168,492
Basic net income per share $ 0.84 $ 0.83 $ 2.02 $ 1.94
Diluted net income per share $ 0.83 $ 0.82 $ 2.00 $ 1.92
Cash dividends per share $ 0.330 $ 0.325 $ 1.30 $ 1.28
Weighed average shares outstanding:
Basic 90,471 89,006 89,385 86,975
Diluted 91,066 89,608 90,272 87,745
Summary Net Income by Segment (000s)
Natural gas distribution $ 50,133 $ 40,164 $ 92,648 $ 73,283
Regulated transmission and storage 7,661 9,847 41,425 34,590
Natural gas marketing 10,575 20,600 29,989 45,769
Pipeline, storage and other 7,594 3,192 16,269 14,850
Consolidated net income $ 75,963 $ 73,803 $ 178,749 $ 174,406
Balance Sheet Items (000s) Dec. 31, 2008 Sept. 30, 2008
Property, plant and equipment $ 5,803,491 $ 5,730,156
Net property, plant and equipment 4,194,748 4,136,859
Total assets 6,818,899 6,386,699
Shareholders’ equity 2,078,076 2,052,492
3. Strategy of Growing Through Acquisitions
Atmos Energy has grown through a series of acquisitions. From 279,000 original customers in 1983, the company has added 2.9 million
customers. In 2004, it acquired the regulated distribution and pipeline operations of TXU Gas Company, its 10th major acquisition.
Atmos Energy Major Acquisitions Associated Natural Gas–Missouri
Heritage Propane Interest Acquired
Woodward Marketing, L.L.C.
Atmos Energy Corporation Founded Louisiana Gas Service and LGS Natural Gas
Trans Louisiana Gas Co. Mississippi Valley Gas Co.
Western Kentucky Gas Co. Greeley Gas Co. Heritage Interest Sold
TXU Gas Co.
United Cities Gas Co.
1983 1986 1987 1993 1997 2000 2001 2002 2004
Strategy of Running Our Regulated Operations Well Strategy of Growing Our Complementary Nonregulated Operations
Industry leader in information and telecommunications technology One of the most respected mid-tier natural gas marketers in the
Hedged approximately half of our expected winter f lowing-gas industry, based on MastioGale’s customer satisfaction surveys
Nonregulated natural gas storage fields in Kentucky and Louisiana,
requirements through financial derivatives and physical storage
Purchased gas cost adjustments adequate in all jurisdictions containing 3.9 Bcf of working gas storage capacity and 7.9 Bcf of
Weather normalization, or a similar rate design, protects more than additional contractual storage capacity; preliminary planning under
90 percent of distribution margins from unseasonable weather way on a salt-cavern gas storage facility in northeast Louisiana with
One of the largest regulated intrastate natural gas pipelines in Texas, an expected in-service date for the first cavern of 2011
Natural gas gathering operations expanded with the completion of
Atmos Pipeline–Texas, serves our growing regulated distribution
market, owns 39 Bcf of storage at five facilities in Texas and trans- our Park City Gathering System in Edmonson County, Kentucky,
ports large volumes of natural gas for producers and shippers and the purchase of the nearby Shrewsbury Gathering System
Expansion of nonregulated operations through past acquisitions of
gas storage fields, gas marketing companies and gas contracts
with municipalities; new opportunities are under evaluation for
natural gas pipeline and storage facilities
Total Return in Fiscal 2008 Earnings History and Fiscal 2009 Estimated EPS
Key
Peer
SPX INDU UTIL ATO S5UTIL Avg. S6GASU Atmos Energy Earnings per Diluted Share ATO - Atmos Energy Corporation
INDU - Dow Jones Industrial Average
$2.05–$2.15E
$2.25
8.2% S5UTIL - Standard & Poor’s 500 Utilities
7.5% $2.00
$1.92 S6GASU - Standard & Poor’s Small-Cap Gas Index
2.00 $1.82
SPX - Standard & Poor’s 500 Index
$1.72
0.2% 1.75 $1.58 UTIL - Dow Jones Utilities Index
1.50 Peer - ATG, LG, NI, NJR, NWN, OKE, PNY,
(1.4)%
SWX and WGL
1.25
EPS estimate assumes less volatility in natural gas prices
1.00
affecting natural gas marketing segment and successful
.75 rate cases and collection efforts.
(11.8)%
.50
.25
(19.8)%
(22.0)% 2004 2005 2006 2007 2008 2009