# Atmos Energy

**Source:** https://geo.sig.ai/brands/atmos-energy  
**Vertical:** Energy & Utilities  
**Subcategory:** Enterprise  
**Tier:** Leader  
**Website:** atmosenergy.com  
**Last Updated:** 2026-04-14

## Summary

Dallas largest US natural gas-only utility (NYSE: ATO) ~$4.3B FY2024 revenue; 3.3M customers in 8 states, Texas population boom tailwind, 6-8% annual EPS growth, $3.5B/year capex competing with CenterPoint.

## Company Overview

Atmos Energy Corporation is a Dallas, Texas-based natural gas distribution company — publicly traded on the New York Stock Exchange (NYSE: ATO) as an S&P 500 Utilities component — distributing natural gas to approximately 3.3 million residential, commercial, and industrial customers in eight states (Texas, Louisiana, Mississippi, Tennessee, Kentucky, Kansas, Colorado, and Virginia) through approximately 4,500 employees, operating as the largest natural gas-only utility in the United States by customer count. In fiscal year 2024 (ending September 2024), Atmos Energy reported revenues of approximately $4.3 billion and adjusted earnings per diluted share of $7.03 — continuing Atmos Energy's consistent 6-8% annual EPS growth track record that has made Atmos Energy one of the most reliable earnings growth utilities in the US, supported by the multi-state regulatory framework that allows Atmos to recover capital investment through formula rate mechanisms in most of its eight service states. CEO Chris Forsythe leads Atmos Energy's capital investment program — $3.5 billion annually in pipeline system modernization (replacing vintage cast iron, bare steel, and mechanically coupled pipe with modern coated steel and plastic distribution pipe), safety system upgrades, and capacity expansion in high-growth Texas and Colorado markets. Texas remains Atmos Energy's dominant service territory (2+ million of 3.3 million customers, serving Dallas-Fort Worth metro, Houston, San Antonio, El Paso, and West Texas) where residential and commercial natural gas demand growth from the Texas population boom (DFW growing 150,000 residents annually) drives Atmos Energy's capital investment and revenue growth.

Atmos Energy's natural gas distribution model creates competitive advantages through the regulatory recovery mechanisms in eight states that allow capital investment to earn authorized returns with minimal regulatory lag: Texas's GRIP (Gas Reliability Infrastructure Program) allows Atmos to file annual adjustments for eligible infrastructure capital spending — updating rates as capital is spent rather than waiting for full rate case proceedings — reducing the typical 18-24 month regulatory lag to 3-6 months for infrastructure investment recovery. The natural gas infrastructure replacement program (Atmos Energy's 20-year "Pipe Safety" program replacing 12,000+ miles of vintage distribution infrastructure across eight states) represents a guaranteed capital investment pipeline funded by regulatory recovery — state utility commissions in Texas, Louisiana, Tennessee, and Kentucky all support pipeline safety investment programs through rider mechanisms that provide timely recovery. Atmos Energy's industrial and large commercial customer base (manufacturing facilities, power plants, commercial buildings in Texas and Louisiana) provides higher-margin natural gas delivery revenue that diversifies beyond residential weather-sensitive heating load.

In 2025, Atmos Energy competes in natural gas distribution utility service against CenterPoint Energy (NYSE: CNP, Houston-based electric and gas utility with overlapping Texas gas distribution), Spire Inc. (NYSE: SR, Missouri natural gas distribution), and ONE Gas (NYSE: OGS, Oklahoma and Kansas natural gas distribution) for Texas and multi-state regulatory proceedings, large commercial gas customer service agreements, and capital investment prioritization within the eight-state distribution network. The Texas population and economic growth (DFW adding 150,000+ residents annually, Dallas economic development bringing major corporate headquarters relocations from California and Northeast) drives natural gas distribution infrastructure investment above Atmos Energy's base replacement programs as new residential subdivisions, commercial developments, and industrial facilities require new gas distribution mains and services. Texas's energy policy environment (favorable to natural gas infrastructure investment, with legislative support for gas distribution as a complement to electric grid rather than a replacement) provides regulatory support for continued Atmos Energy distribution expansion. The 2025 strategy focuses on Texas infrastructure expansion capital (new development in suburban DFW, San Antonio, and Austin growth corridors), pipeline safety replacement execution in older urban distribution systems, and formula rate recovery optimization across all eight service states.

## Frequently Asked Questions

### What is Atmos Energy?
Atmos Energy Corporation is the United States' largest fully-regulated natural-gas-only distributor, serving approximately three million customers in over 1,400 communities across eight states (Texas, Louisiana, Kansas, Colorado, Kentucky, Mississippi, Tennessee, and Virginia). Headquartered in Dallas, Texas, the company operates through two segments: Distribution (local natural gas delivery to residential, commercial, and industrial customers) and Pipeline and Storage (one of the largest intrastate pipeline systems in Texas). Founded in 1906, Atmos Energy is an S&P 500 company trading on NYSE under ticker ATO.

### When was Atmos Energy founded?
Atmos Energy traces its origins to 1906, when brothers J.C. and Frank Storm established the Amarillo Gas Company in Amarillo, Texas. The company initially manufactured artificial gas from coke and oil, then transitioned to natural gas distribution in 1920 when it connected to the Panhandle natural gas field. The company became an independent publicly held entity as Energas in 1983, and was renamed Atmos Energy Corporation in October 1988 when it began trading on the New York Stock Exchange under ticker symbol ATO.

### Where is Atmos Energy headquartered?
Atmos Energy Corporation's principal executive offices are located at 1800 Three Lincoln Centre, 5430 LBJ Freeway, Dallas, Texas 75240. The company moved its headquarters to Dallas in 1986 following the acquisition of Trans Louisiana Gas Company to establish a more centralized location for managing operations across multiple states. The Atmos Pipeline-Texas corporate office is also located nearby at 5420 LBJ Freeway.

### What states does Atmos Energy serve?
Atmos Energy has regulated utility operations in eight states: Texas, Louisiana, Kansas, Colorado, Kentucky, Mississippi, Tennessee, and Virginia. The company is the largest natural gas distributor in Texas, Louisiana, and Mississippi. Its service territory spans from the Blue Ridge Mountains in the East to the Rocky Mountains in the West, serving over 1,400 communities with approximately three million customers.

### How much does Atmos Energy invest in infrastructure?
Atmos Energy invests heavily in infrastructure modernization and safety. In fiscal year 2024, the company invested $2.9 billion in capital expenditures, with approximately 83% focused on safety and reliability. For fiscal 2025, capital expenditures are expected to be approximately $3.7 billion, with 87% dedicated to safety and reliability priorities. Looking ahead, the company has outlined a $24 billion multi-year capital plan through 2029 ($18 billion for distribution, $6 billion for Texas pipeline), primarily for pipeline replacement, integrity management, and wireless metering expansion.

### What makes Atmos Energy different from competitors?
Atmos Energy differentiates itself as the nation's largest fully-regulated natural-gas-only distributor, focusing exclusively on natural gas rather than multi-commodity utilities. The company's competitive advantages include its large-scale operations serving 3+ million customers, industry-leading safety performance (Recordable Injury Rate and DART rates below industry averages), strong regulatory relationships enabling consistent rate base growth, exceptional dividend track record (42 consecutive years of increases), and projected rate base growth of 13-15% annually to $40-44 billion by 2030. The company's AtmoSpirit culture also drives employee retention nearly 3x the national average.

### Who are Atmos Energy's main competitors?
Atmos Energy's main competitors include CenterPoint Energy (#1 rival and most similar), ONE Gas, Southwest Gas Holdings, NiSource Inc., UGI Corporation, National Fuel Gas, Southern Company, AEP, Xcel Energy, Entergy, and ONEOK. Competition varies by region and market segment. Atmos Energy is ranked as the fifth-largest pure natural gas distributor in the United States and has been ranked #1025 on the Forbes Global 2000 2025 list.

### What are Atmos Energy's financial metrics?
For fiscal year 2024, Atmos Energy reported earnings per diluted share of $6.83 on net income of $1 billion, with annual revenue of $4.165 billion. The company has a market capitalization of approximately $27.8 billion and maintains $5.2 billion in available liquidity. Key metrics include: debt-to-capitalization ratio of 60%, capital expenditures of $2.9 billion (83% on safety/reliability), rate base projected to grow from $21 billion (FY2025) to $40-44 billion (FY2030), 5,260 employees, and 59,000+ new customers added in 2024.

### Who is the CEO of Atmos Energy?
Kevin Akers is the President and Chief Executive Officer of Atmos Energy, having been appointed in October 2019. A native of Owensboro, Kentucky, Akers holds a Bachelor of Science degree in petroleum engineering from the University of Alabama. He joined Atmos Energy in 1991 and has over 30 years of experience with the company, having served in various leadership roles including president of divisions in Mississippi and Kentucky/Mid-States, and Senior Vice President of Safety and Enterprise Services before becoming CEO.

### Does Atmos Energy pay dividends?
Yes, Atmos Energy has an exceptional dividend track record with 42 consecutive years of dividend increases as of 2024. In November 2024, the company announced a significant 14.9% dividend increase for fiscal 2026 to an indicated annual dividend of $4.00 per share (from $3.48), representing a quarterly dividend of $1.00 per share. The March 2025 dividend marked the company's 165th consecutive quarterly dividend payment. This consistent dividend growth demonstrates the company's strong cash generation and commitment to shareholder returns.

### Is Atmos Energy hiring?
Yes, Atmos Energy regularly hires across various functions including operations, engineering, customer service, safety, finance, and corporate positions. The company offers competitive pay, comprehensive benefits including 401(k) matching, health insurance, life insurance, disability coverage, paid time off, employee assistance programs, and extensive career development opportunities. With an average employee tenure of 5.2 years (nearly 3x the national average) and ranking #6 on Forbes' America's Best Midsize Employers in 2023, Atmos Energy is recognized for its strong workplace culture based on AtmoSpirit values.

### How can I contact Atmos Energy?
Atmos Energy can be contacted at its corporate headquarters: 1800 Three Lincoln Centre, 5430 LBJ Freeway, Dallas, TX 75240, phone (972) 934-9227. For customer service inquiries, customers should contact their local Atmos Energy office specific to their state (Texas, Louisiana, Kansas, Colorado, Kentucky, Mississippi, Tennessee, or Virginia). Emergency gas leaks should be reported immediately to the 24/7 emergency line. Investor relations inquiries can be directed through the company's website at www.atmosenergy.com or the investor relations section at investors.atmosenergy.com.

## Tags

b2b, b2c, energy, infrastructure, public

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*Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*