Atmos Energy Corporation (ATO) closed fiscal 2026 with earnings of $8.49 a share on net income of $1.4 billion, inside the $8.40 to $8.50 range it had reaffirmed after the third quarter, and initiated fiscal 2027 guidance of $9.05 to $9.25 a share.

The natural gas-only distributor, which serves about 3.4 million customers in eight states, said the 2027 outlook sits above the 2026 range. It also lifted the quarterly dividend to $1.09 a share, for an indicated annual payout of $4.36, a 9.0% increase over fiscal 2026’s $4.00.

Capital spending for the year was $4.2 billion, matching the approximately $4.2 billion full-year plan reaffirmed in August, with more than 85% of that outlay focused on safety and reliability. The company said it implemented $395.4 million in annualized regulatory outcomes for fiscal 2026, up from $355.0 million after the third quarter.

Equity capitalization remained 60%. Available liquidity was $3.8 billion at year-end, down from $4.6 billion after the third quarter.

Fiscal 2027 capital expenditure guidance is expected to be approximately $4.5 billion.

The year’s quarterly path had already been visible in the second half. Cumulative earnings through the third quarter were $7.33 a share on net income of $1.2 billion, versus $5.92 a share on $984.9 million through the second quarter, when the company raised full-year guidance to $8.40 to $8.50 from $8.15 to $8.35.

After the second quarter, annualized regulatory outcomes stood at $135.3 million and capital expenditures at $2.0 billion. By the third-quarter close those figures were $355.0 million and $3.1 billion, both still with more than 85% of spending on safety and reliability. Liquidity then was $4.1 billion and equity capitalization 60.9%.

Atmos Energy said it safely delivers natural gas to communities across the South and manages proprietary pipeline and storage assets, including one of the largest intrastate natural gas pipeline systems in Texas. The company’s risk discussion again cited rate proceedings, pipeline-integrity costs, commodity and interest-rate volatility, and the capital-intensive nature of the business.

The board’s $1.09 quarterly dividend and the $4.5 billion 2027 capital program frame the next year’s cash uses alongside the $9.05 to $9.25 earnings range. Liquidity of $3.8 billion at year-end and 60% equity capitalization sit with that spending plan as the company begins fiscal 2027.