2/5/2025

speaker
Regina
Conference Call Operator

on your telephone keypad. To withdraw your question, press star 1 again. I would now like to turn the conference over to Dan Mazur, Vice President, Investor Relations, and Treasurer. Please go ahead.

speaker
Dan Mazur
Vice President, Investor Relations, and Treasurer

Thank you, Regina. Good morning, everyone, and thank you for joining us. With me today are Kevin Akers, President and Chief Executive Officer, and Chris Forsythe, Senior Vice President and Chief Financial Officer. Our earnings release and conference call slide presentation, which we will reference in our prepared remarks, are available at atmosenergy.com under the Investor Relations tab. As we review our financial results and discuss future expectations, please keep in mind that some of our discussion might contain forward-looking statements within the meaning of the Securities Act and the Securities Exchange Act. Our forward-looking statements and projections could differ materially from actual results. The factors that could cause such material differences are outlined on slide 27 and are more fully described in our SEC filings. I'll now turn the call over to Kevin.

speaker
Kevin Akers
President and Chief Executive Officer

Thank you, Dan, and good morning, everyone. We appreciate your interest in Atmos Energy. I want to begin today's call by thanking all 5,300 Atmos Energy employees for their focus and dedication to safely serving our customers during very challenging weather conditions. And thank you for all that you do every day for our customers and our community. You are truly the heart and soul of Atmos Energy. Yesterday, we reported first quarter net income of $352 million, or $2.23 per diluted share. And our first fiscal quarter capital spending was $891 million to support continued system modernization and growth across our service territory. Customer growth continued to be solid as for the 12 months into December 31st, 2024, we added over 59,000 new customers with over 46,000 of those located here in Texas. The Texas Workforce Commission reported in January that the seasonally adjusted number of employees reached a new record high at over 14.3 million. Texas once again added jobs at a faster rate than the nation over the last 12 months. adding nearly 284,000 jobs in calendar 2024, representing a 2% annual growth rate. Commercial customer growth remains solid as well, with nearly 1,100 commercial customers connecting to the system during the first quarter. And we added 11 new industrial customers, which when fully operational, we anticipate utilizing 2.3 BCF of gas annually. This continued demand from all customer classes demonstrates the value and vital role natural gas plays in economic development and fueling the energy demand across our service territory. In APT, we completed several projects that will enhance the safety, reliability, versatility, and supply diversification of our system and support the continued growth we see in the local distribution companies behind the APT system. The final phase of our 36-inch line S2 project was placed into service in December 2024, and we are now flowing additional supply from the Haynesville and Cotton Valley Shell Plays to the east side of the growing Dallas-Fort Worth Metroplex. APT's Bethel to Grow Spec project has started. This project will install approximately 55 miles of 36-inch pipe from our Bethel Storage Facility to our gross bed compressor station, which will provide additional pipeline capacity to transport gas from our Bethel storage facility to the growing DFW Metroplex and the Interstate 35 corridor. To enhance supply reliability and system versatility, APT completed two interconnect projects during the quarter, one on our line F2 near Carthage and the second near our growing service territory outside Austin. Our customer support associates and service technicians' satisfaction ratings remain high for the quarter at 98%. And our customer advocacy team and customer support agents continue their outreach efforts to energy assistance agencies and customers during the first quarter, helping over 16,000 customers receive $4 million in funding assistance. Our employees focus on customer service and process improvements It was recognized in December when, for the third consecutive year, J.D. Power ranked Atmos Energy number one in customer satisfaction among midsize gas utilities in the Midwest. Atmos Energy is well-positioned to continue safely delivering reliable and efficient natural gas to homes, businesses, and industry to fuel our energy needs now and in the future. I'll now turn the call over to Chris for his update.

Disclaimer

This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

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Investor presentation