Atmos Energy Corporation reported earnings for the fiscal 2008 first quarter. Net income was $73.8 million compared to $81.3 million in the prior year. Regulated operations contributed higher net income of $50 million while nonregulated operations contributed lower net income of $23.8 million due to less volatility in natural gas prices. Atmos affirmed its fiscal 2008 earnings guidance of $1.95 to $2.05 per share.
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 financial results for the third quarter and first nine months of fiscal year 2008. For the third quarter, the company reported a net loss of $6.6 million compared to a $13.4 million net loss in the prior year quarter. For the nine month period, net income was $178.7 million compared to $174.4 million in the prior year. The company reaffirmed its fiscal year 2008 earnings guidance of $1.95 to $2.05 per diluted share.
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 reported earnings for the second quarter and first six months of fiscal year 2008. Net income for the quarter was $111.5 million, up slightly from the prior year. Regulated operations contributed $100.9 million in net income while nonregulated operations contributed $10.6 million. For the six month period, net income was $185.3 million. Atmos affirmed its fiscal year 2008 guidance of $1.95 to $2.05 earnings per share.
Atmos Energy Corporation reported earnings for fiscal year 2007. Net income was $168.5 million, up from $147.7 million in fiscal year 2006. Regulated operations contributed $107.9 million of net income in 2007 compared to $79.5 million in 2006. Nonregulated operations contributed $60.6 million of net income in 2007 compared to $68.2 million in 2006. Atmos Energy expects fiscal year 2008 earnings to be between $1.95 to $2.05 per diluted share.
DTE Energy reported first quarter earnings of $149 million compared to $190 million in the first quarter of 2004. Operating earnings, which exclude non-recurring items, were $153 million compared to $152 million in the prior year. The company reconfirmed its 2005 earnings guidance range of $3.30 to $3.60 per share. Several business units saw lower earnings due to timing factors but the company expects to meet its annual targets.
Atmos Energy Corporation reported financial results for the third quarter and first nine months of fiscal year 2007. For the quarter, the company reported a net loss that was smaller than the prior year's loss. For the nine month period, net income increased 23% compared to the same period last year. Atmos Energy expects full year earnings to be at the lower end of its previous guidance range due to factors such as lower natural gas price volatility limiting opportunities in its natural gas marketing segment. Capital expenditures for the full fiscal year are expected to be between $365-385 million.
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.
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 financial results for the third quarter and first nine months of fiscal year 2008. For the third quarter, the company reported a net loss of $6.6 million compared to a $13.4 million net loss in the prior year quarter. For the nine month period, net income was $178.7 million compared to $174.4 million in the prior year. The company reaffirmed its fiscal year 2008 earnings guidance of $1.95 to $2.05 per diluted share.
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 reported earnings for the second quarter and first six months of fiscal year 2008. Net income for the quarter was $111.5 million, up slightly from the prior year. Regulated operations contributed $100.9 million in net income while nonregulated operations contributed $10.6 million. For the six month period, net income was $185.3 million. Atmos affirmed its fiscal year 2008 guidance of $1.95 to $2.05 earnings per share.
Atmos Energy Corporation reported earnings for fiscal year 2007. Net income was $168.5 million, up from $147.7 million in fiscal year 2006. Regulated operations contributed $107.9 million of net income in 2007 compared to $79.5 million in 2006. Nonregulated operations contributed $60.6 million of net income in 2007 compared to $68.2 million in 2006. Atmos Energy expects fiscal year 2008 earnings to be between $1.95 to $2.05 per diluted share.
DTE Energy reported first quarter earnings of $149 million compared to $190 million in the first quarter of 2004. Operating earnings, which exclude non-recurring items, were $153 million compared to $152 million in the prior year. The company reconfirmed its 2005 earnings guidance range of $3.30 to $3.60 per share. Several business units saw lower earnings due to timing factors but the company expects to meet its annual targets.
Atmos Energy Corporation reported financial results for the third quarter and first nine months of fiscal year 2007. For the quarter, the company reported a net loss that was smaller than the prior year's loss. For the nine month period, net income increased 23% compared to the same period last year. Atmos Energy expects full year earnings to be at the lower end of its previous guidance range due to factors such as lower natural gas price volatility limiting opportunities in its natural gas marketing segment. Capital expenditures for the full fiscal year are expected to be between $365-385 million.
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.
TXU reported better than expected earnings for the first quarter of 2003, with earnings from continuing operations of $101 million (exceeding the target of $0.20 per share). Full year 2003 guidance remains at $1.95 to $2.05 per share. Earnings were higher than expected due to increased contributions from the North America Energy Delivery segment and cost reductions, though partially offset by higher fuel costs and interest expenses. TXU has also accomplished debt reduction and cost cutting objectives to strengthen its financial position.
DTE Energy reported third quarter earnings and revised its 2005 earnings guidance downwards due to timing-related accounting items from rising energy prices. Reported earnings were $4 million compared to $93 million in Q3 2004, while operating earnings excluding non-recurring items were $5 million compared to $97 million. Both the Detroit Edison electric utility and MichCon gas utility showed strong year-over-year improvements in operating earnings. However, earnings from power and fuel transportation were impacted by accounting deferrals from synfuel revenue and gas/power contracts that are expected to reverse in Q4 2005 and 2006. As a result, DTE lowered its 2005 operating earnings guidance to $3.10 to $3.30 per
DTE Energy reported lower third quarter earnings compared to the previous year. Earnings were down due to a decline in operating earnings at Detroit Edison, impacted by mild weather and loss of customers to electric choice programs. While non-regulated businesses performed well, regulatory uncertainties at the utilities impacted overall results. Management expects resolutions to rate cases and improvements to electric choice programs to strengthen earnings in 2005.
National Fuel and their Marcellus Shale drilling subsidiary Seneca Resources issued their fiscal year second quarter results yesterday, which show a 57% increase in shale oil and gas production coming from the Marcellus region.
DTE Energy reported earnings of $186 million for the first quarter of 2004, up from $155 million in the first quarter of 2003. Operating earnings, which exclude non-recurring items, were $151 million, comparable to the $178 million reported in the first quarter of 2003. Earnings were impacted by warmer weather and increased uncollectable accounts at the company's gas distribution business. The company expects to receive rate relief in 2004 that will help improve earnings performance for the year.
Progress Energy reported a net loss of $0.19 per share for Q2 2006, compared to a net loss of $0.01 per share in Q2 2005. Ongoing earnings were $0.32 per share in Q2 2006, down from $0.63 per share in Q2 2005. Core ongoing earnings were $0.43 per share in Q2 2006, down from $0.53 per share in Q2 2005. Progress Energy also announced the sale of its natural gas assets for $1.2 billion and reaffirmed its 2006 ongoing earnings guidance.
Altria Group reported higher earnings for the second quarter of 2008 compared to the same period in 2007. Adjusted diluted earnings per share increased 12.2% as Philip Morris USA's operating income grew 3.8% and cigar maker John Middleton delivered strong volume gains of 11%. Altria reaffirmed its full-year guidance for adjusted diluted earnings per share growth of 9-11%.
Progress Energy announces its 2007 second-quarter results. It reported a GAAP loss of $0.75 per share compared to a loss of $0.19 per share for the same period last year, due to losses from exiting its merchant energy segment. However, its core ongoing earnings were $0.59 per share compared to $0.47 per share last year, due to lower interest expense and income taxes. It reaffirmed its 2007 core ongoing earnings guidance of $2.70 to $2.90 per share. Its core businesses of electric utilities continued to perform well in the second quarter.
- Air Products reported record third quarter revenues and earnings, with net income of $285 million and diluted EPS of $1.28. Revenues increased 16% to a record $2.595 billion due to higher volumes and pricing.
- All six of Air Products' business segments saw sales increases compared to the prior year, with the Merchant Gases, Tonnage Gases, and Electronics and Performance Materials segments experiencing the strongest growth.
- Based on continued strong demand, Air Products raised its full-year EPS guidance to a range of $4.30 to $4.35, representing 23-24% year-over-year growth.
Progress Energy reported third-quarter 2006 earnings of $1.27 per share compared to $1.82 per share for the same period last year. Core ongoing earnings were $0.89 per share compared to $1.05 per share last year, with unfavorable impacts from weather and mark-to-market losses. The company reaffirmed 2006 core ongoing earnings guidance of $2.45 to $2.65 per share and expects ongoing earnings growth of over 3-5% in 2007-2008 driven by debt reduction, cost management and increased investment.
Southern Company reported first quarter 2008 earnings of $359.2 million, up from $338.7 million in the first quarter of 2007. Revenues increased 8% to $3.68 billion. Kilowatt-hour sales to retail customers increased 1.4% due to growth in residential and commercial customers. Earnings were positively impacted by increased revenue from market-response rates and regulatory actions supporting infrastructure investments, which were partially offset by higher operations and maintenance expenses.
Southern Company reported its financial results for the fourth quarter and full year of 2008. For the full year, earnings were $1.74 billion compared to $1.73 billion in 2007. Kilowatt-hour sales to retail customers decreased 2.1% for the year. Revenues increased 11.6% for the full year to $17.13 billion due to higher retail rates and environmental cost recovery, but earnings were impacted by mild weather, a weak economy, and higher expenses. Looking ahead, economic challenges are expected to continue through 2009 but the long-term viability of the Southeast region remains strong.
DTE Energy raised its 2008 earnings guidance based on strong expected performance across several business segments. It reported first quarter 2008 operating earnings of $128 million, up from $112 million in the first quarter of 2007, driven by higher earnings at its energy trading business. Several business segments experienced improved results compared to the prior year quarter. The company also advocated for comprehensive energy reform legislation in Michigan to secure clean energy supplies and jobs.
DTE Energy reported a loss for the second quarter of 2006 compared to earnings in the same period in 2005. Operating earnings excluding special items were nearly break-even, with higher earnings from the electric utility offset by losses in other segments due to oil hedging costs and falling natural gas prices. Despite the quarterly loss, DTE maintained its full-year 2006 earnings guidance. Capital investment continued across all business segments to improve operations and support growth.
DTE Energy reported lower second quarter earnings compared to the previous year, but operating earnings were higher. While the electric and gas utilities saw improved earnings, the non-utility businesses had lower earnings due to accounting deferrals and oil hedging losses. However, DTE Energy reaffirmed its full-year operating earnings guidance.
The document is a transcript of Avis Budget Group's second quarter 2008 earnings conference call. In the call, Ron Nelson, the Chairman and CEO of Avis Budget Group, discusses the company's financial results and the challenges it is facing in the current economic environment. He notes that while the company has made progress on its strategic initiatives, it reported lower earnings than expected due to headwinds from high oil prices, a decline in commercial travel, and weaker consumer spending. Nelson provides details on how these factors impacted demand and pricing in the company's car rental business in the second quarter. He also discusses the company's outlook and steps it is taking to reduce costs and mitigate further impacts in the third quarter.
- Avis Budget Car Rental, LLC provides financial statements and management discussion for Q3 2006. It operates Avis and Budget vehicle rental brands in domestic and international markets.
- For Q3 2006, revenues increased slightly to $1.55 billion while net income decreased to $12 million compared to $93 million in Q3 2005. Expenses also increased for vehicle depreciation and interest costs.
- The balance sheet as of September 30, 2006 shows total assets of $13.44 billion including $8.34 billion in assets under vehicle programs, and total liabilities of $10.34 billion including $7.36 billion in liabilities under vehicle programs.
This presentation provides an overview of the company to investors. It discusses the company's two-brand strategy with Avis as a premium brand and Budget as a value brand. It highlights opportunities to optimize this strategy and expand revenue sources such as the Where2 ancillary rental product. Financial projections estimate Where2 can generate $15 million in EBITDA in 2008 growing to $70 million as the take rate increases.
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.
1) The document is the presentation for the Lehman Brothers Energy & Power Conference by Robert W. Best, Chairman, President, and CEO of Atmos Energy Corporation on September 6, 2007.
2) Atmos Energy Corporation is a natural gas distribution company operating in 12 states as well as complementary nonutility businesses in 22 states.
3) Atmos has pursued a strategy of growth through acquisitions, successfully integrating over 20 acquisitions, and now serves over 3 million customers, making it the largest pure-gas distribution company in the US.
This document provides condensed financial statements and management discussion and analysis for Avis Budget Car Rental for the third quarter of 2007. It includes statements of income, balance sheets, cash flows, and stockholders' equity. Key highlights include total revenues of $1.7 billion for the quarter and $4.6 billion for the nine months. Net income was $65 million for the quarter and $94 million for the nine months. Total assets were $13.8 billion as of September 30, 2007, with $4.7 billion in assets excluding vehicle programs and $9.2 billion in assets for vehicle programs.
Mattel had a successful year in 2006 with global net sales up 9%. The company benefited from strong movie toy sales but also had growth in its core brands like Polly Pocket and Fisher-Price. Mattel sees opportunities for continued growth both in the US and internationally, especially in emerging markets. The CEO is optimistic about Mattel's future prospects to capitalize on opportunities through innovation and strong customer relationships.
TXU reported better than expected earnings for the first quarter of 2003, with earnings from continuing operations of $101 million (exceeding the target of $0.20 per share). Full year 2003 guidance remains at $1.95 to $2.05 per share. Earnings were higher than expected due to increased contributions from the North America Energy Delivery segment and cost reductions, though partially offset by higher fuel costs and interest expenses. TXU has also accomplished debt reduction and cost cutting objectives to strengthen its financial position.
DTE Energy reported third quarter earnings and revised its 2005 earnings guidance downwards due to timing-related accounting items from rising energy prices. Reported earnings were $4 million compared to $93 million in Q3 2004, while operating earnings excluding non-recurring items were $5 million compared to $97 million. Both the Detroit Edison electric utility and MichCon gas utility showed strong year-over-year improvements in operating earnings. However, earnings from power and fuel transportation were impacted by accounting deferrals from synfuel revenue and gas/power contracts that are expected to reverse in Q4 2005 and 2006. As a result, DTE lowered its 2005 operating earnings guidance to $3.10 to $3.30 per
DTE Energy reported lower third quarter earnings compared to the previous year. Earnings were down due to a decline in operating earnings at Detroit Edison, impacted by mild weather and loss of customers to electric choice programs. While non-regulated businesses performed well, regulatory uncertainties at the utilities impacted overall results. Management expects resolutions to rate cases and improvements to electric choice programs to strengthen earnings in 2005.
National Fuel and their Marcellus Shale drilling subsidiary Seneca Resources issued their fiscal year second quarter results yesterday, which show a 57% increase in shale oil and gas production coming from the Marcellus region.
DTE Energy reported earnings of $186 million for the first quarter of 2004, up from $155 million in the first quarter of 2003. Operating earnings, which exclude non-recurring items, were $151 million, comparable to the $178 million reported in the first quarter of 2003. Earnings were impacted by warmer weather and increased uncollectable accounts at the company's gas distribution business. The company expects to receive rate relief in 2004 that will help improve earnings performance for the year.
Progress Energy reported a net loss of $0.19 per share for Q2 2006, compared to a net loss of $0.01 per share in Q2 2005. Ongoing earnings were $0.32 per share in Q2 2006, down from $0.63 per share in Q2 2005. Core ongoing earnings were $0.43 per share in Q2 2006, down from $0.53 per share in Q2 2005. Progress Energy also announced the sale of its natural gas assets for $1.2 billion and reaffirmed its 2006 ongoing earnings guidance.
Altria Group reported higher earnings for the second quarter of 2008 compared to the same period in 2007. Adjusted diluted earnings per share increased 12.2% as Philip Morris USA's operating income grew 3.8% and cigar maker John Middleton delivered strong volume gains of 11%. Altria reaffirmed its full-year guidance for adjusted diluted earnings per share growth of 9-11%.
Progress Energy announces its 2007 second-quarter results. It reported a GAAP loss of $0.75 per share compared to a loss of $0.19 per share for the same period last year, due to losses from exiting its merchant energy segment. However, its core ongoing earnings were $0.59 per share compared to $0.47 per share last year, due to lower interest expense and income taxes. It reaffirmed its 2007 core ongoing earnings guidance of $2.70 to $2.90 per share. Its core businesses of electric utilities continued to perform well in the second quarter.
- Air Products reported record third quarter revenues and earnings, with net income of $285 million and diluted EPS of $1.28. Revenues increased 16% to a record $2.595 billion due to higher volumes and pricing.
- All six of Air Products' business segments saw sales increases compared to the prior year, with the Merchant Gases, Tonnage Gases, and Electronics and Performance Materials segments experiencing the strongest growth.
- Based on continued strong demand, Air Products raised its full-year EPS guidance to a range of $4.30 to $4.35, representing 23-24% year-over-year growth.
Progress Energy reported third-quarter 2006 earnings of $1.27 per share compared to $1.82 per share for the same period last year. Core ongoing earnings were $0.89 per share compared to $1.05 per share last year, with unfavorable impacts from weather and mark-to-market losses. The company reaffirmed 2006 core ongoing earnings guidance of $2.45 to $2.65 per share and expects ongoing earnings growth of over 3-5% in 2007-2008 driven by debt reduction, cost management and increased investment.
Southern Company reported first quarter 2008 earnings of $359.2 million, up from $338.7 million in the first quarter of 2007. Revenues increased 8% to $3.68 billion. Kilowatt-hour sales to retail customers increased 1.4% due to growth in residential and commercial customers. Earnings were positively impacted by increased revenue from market-response rates and regulatory actions supporting infrastructure investments, which were partially offset by higher operations and maintenance expenses.
Southern Company reported its financial results for the fourth quarter and full year of 2008. For the full year, earnings were $1.74 billion compared to $1.73 billion in 2007. Kilowatt-hour sales to retail customers decreased 2.1% for the year. Revenues increased 11.6% for the full year to $17.13 billion due to higher retail rates and environmental cost recovery, but earnings were impacted by mild weather, a weak economy, and higher expenses. Looking ahead, economic challenges are expected to continue through 2009 but the long-term viability of the Southeast region remains strong.
DTE Energy raised its 2008 earnings guidance based on strong expected performance across several business segments. It reported first quarter 2008 operating earnings of $128 million, up from $112 million in the first quarter of 2007, driven by higher earnings at its energy trading business. Several business segments experienced improved results compared to the prior year quarter. The company also advocated for comprehensive energy reform legislation in Michigan to secure clean energy supplies and jobs.
DTE Energy reported a loss for the second quarter of 2006 compared to earnings in the same period in 2005. Operating earnings excluding special items were nearly break-even, with higher earnings from the electric utility offset by losses in other segments due to oil hedging costs and falling natural gas prices. Despite the quarterly loss, DTE maintained its full-year 2006 earnings guidance. Capital investment continued across all business segments to improve operations and support growth.
DTE Energy reported lower second quarter earnings compared to the previous year, but operating earnings were higher. While the electric and gas utilities saw improved earnings, the non-utility businesses had lower earnings due to accounting deferrals and oil hedging losses. However, DTE Energy reaffirmed its full-year operating earnings guidance.
The document is a transcript of Avis Budget Group's second quarter 2008 earnings conference call. In the call, Ron Nelson, the Chairman and CEO of Avis Budget Group, discusses the company's financial results and the challenges it is facing in the current economic environment. He notes that while the company has made progress on its strategic initiatives, it reported lower earnings than expected due to headwinds from high oil prices, a decline in commercial travel, and weaker consumer spending. Nelson provides details on how these factors impacted demand and pricing in the company's car rental business in the second quarter. He also discusses the company's outlook and steps it is taking to reduce costs and mitigate further impacts in the third quarter.
- Avis Budget Car Rental, LLC provides financial statements and management discussion for Q3 2006. It operates Avis and Budget vehicle rental brands in domestic and international markets.
- For Q3 2006, revenues increased slightly to $1.55 billion while net income decreased to $12 million compared to $93 million in Q3 2005. Expenses also increased for vehicle depreciation and interest costs.
- The balance sheet as of September 30, 2006 shows total assets of $13.44 billion including $8.34 billion in assets under vehicle programs, and total liabilities of $10.34 billion including $7.36 billion in liabilities under vehicle programs.
This presentation provides an overview of the company to investors. It discusses the company's two-brand strategy with Avis as a premium brand and Budget as a value brand. It highlights opportunities to optimize this strategy and expand revenue sources such as the Where2 ancillary rental product. Financial projections estimate Where2 can generate $15 million in EBITDA in 2008 growing to $70 million as the take rate increases.
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.
1) The document is the presentation for the Lehman Brothers Energy & Power Conference by Robert W. Best, Chairman, President, and CEO of Atmos Energy Corporation on September 6, 2007.
2) Atmos Energy Corporation is a natural gas distribution company operating in 12 states as well as complementary nonutility businesses in 22 states.
3) Atmos has pursued a strategy of growth through acquisitions, successfully integrating over 20 acquisitions, and now serves over 3 million customers, making it the largest pure-gas distribution company in the US.
This document provides condensed financial statements and management discussion and analysis for Avis Budget Car Rental for the third quarter of 2007. It includes statements of income, balance sheets, cash flows, and stockholders' equity. Key highlights include total revenues of $1.7 billion for the quarter and $4.6 billion for the nine months. Net income was $65 million for the quarter and $94 million for the nine months. Total assets were $13.8 billion as of September 30, 2007, with $4.7 billion in assets excluding vehicle programs and $9.2 billion in assets for vehicle programs.
Mattel had a successful year in 2006 with global net sales up 9%. The company benefited from strong movie toy sales but also had growth in its core brands like Polly Pocket and Fisher-Price. Mattel sees opportunities for continued growth both in the US and internationally, especially in emerging markets. The CEO is optimistic about Mattel's future prospects to capitalize on opportunities through innovation and strong customer relationships.
The document summarizes Realogy Corporation's fourth quarter and full year 2008 earnings conference call. Key points include:
- Realogy reported a $1.8 billion non-cash impairment charge related to goodwill write-downs, but their core business remains strong with $411 million in adjusted EBITDA and $109 million in cash from operations.
- Realogy has reduced operating costs by over $350 million in recent years and an additional $110 million in 2008 to weather the housing downturn.
- Realogy's franchise and owned brokerage businesses saw home sales and prices decline in 2008 compared to 2007, consistent with the broader housing market challenges.
- Realogy expects
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.
Atmos Energy Corporation provides forward-looking statements about its business in this presentation. It operates natural gas utilities in 12 states and nonutility businesses in 22 states. The company has grown through acquisitions, becoming the largest pure-play natural gas distribution company based on customers. It aims to maximize core utility earnings through regulatory strategies including weather normalization adjustment mechanisms, gas cost recovery, and capital investment recovery riders. Nonutility operations in gas marketing and pipeline/storage complement the utility business.
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.
The document is a transcript of Realogy Corporation's third quarter 2008 earnings call from November 7, 2008. In the call, Realogy's President and CEO Richard Smith discusses:
- The difficult housing market conditions and weak economy negatively impacting Realogy's performance.
- Realogy's competitive strengths that provide advantages during the downturn, including its scale, cost efficiencies, and countercyclical businesses.
- Highlights of Realogy's third quarter performance, including declines in home sales and prices at RFG and NRT in line with industry trends.
- Updates on the expansion of Realogy's franchise brands and performance of its various business units.
This document provides the consolidated financial statements and management discussion and analysis for Avis Budget Car Rental for the first quarter of 2007. It includes the consolidated statements of income, balance sheets, cash flows, and stockholder's equity for the periods ended March 31, 2007 and 2006. The financial statements show that Avis Budget's net revenues increased slightly while net income decreased compared to the same period in 2006, as expenses also increased. The document also identifies several risks and uncertainties that could impact the company's future financial performance.
The document is Mattel's 1999 annual report. It summarizes that while Mattel struggled due to problems with its acquisition of The Learning Company, its core brands like Barbie and Fisher-Price performed well. It expresses confidence in Mattel's future due to its strong brands, management team, and growth strategy focusing on direct-to-consumer initiatives, interactive products, and international expansion.
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.
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.
The 2000 Annual Report summarizes Henry Schein's financial performance and operations. It states that Henry Schein is the largest distributor of healthcare products and services in North America and Europe, serving over 650,000 practitioners. The report highlights that net sales increased to $2.38 billion in 2000, operating income grew to $127.6 million, and earnings per share rose to $1.67. It also details Henry Schein's distribution network and capabilities.
Mattel's CEO writes to shareholders about the company's performance in 2003 and its goals for 2004. While sales growth struggled in 2003, Mattel grew internationally and improved profit margins. Looking ahead, Mattel aims to lead in the industry by strengthening its core brands like Barbie and Fisher-Price, developing new learning toys, and setting an example in areas like community involvement and factory standards. The CEO expresses confidence that focus on innovation, cost management and shareholder returns will allow Mattel to overcome challenges and drive leadership in the global toy industry.
energy future holindings TXU_Q3_2003_Earnings_Packfinance29
TXU reported improved financial results for the third quarter and first nine months of 2003 compared to the same periods in 2002. Third quarter earnings from continuing operations increased 15% to $368 million, or $1.01 per share, due to higher contribution margins and lower costs across all business segments. For the first nine months, earnings from continuing operations were $650 million, or $1.82 per share. TXU expects full-year 2003 earnings from continuing operations to be around $2.00 per share.
DTE Energy announced its third quarter 2007 earnings. Operating earnings were $181 million compared to $255 million in third quarter 2006, primarily due to one-time gains in 2006 and startup costs for new systems in 2007. For the first nine months, operating earnings were $317 million compared to $377 million in 2006, mainly due to onetime costs at Detroit Edison including new system startup costs and a temporary rate reduction. The company expects to meet its annual operating earnings guidance and sees strong cash flow providing flexibility for growth.
DTE Energy announced its third quarter 2007 earnings. Operating earnings were $181 million compared to $255 million in third quarter 2006, primarily due to one-time gains in 2006 and startup costs for new systems in 2007. For the first nine months, operating earnings were $317 million compared to $377 million in 2006, mainly due to onetime costs at Detroit Edison including new system startup. The company expects to meet its annual operating earnings guidance and sees underlying business performing well despite some one-time items.
energy future holindings Q206 Earnings Release_Combined_FINALfinance29
TXU reported improved financial results for the second quarter and first half of 2006 compared to the same periods in 2005. Operational earnings per share increased 104% for the quarter and 107% year-to-date, driven by higher contribution margins, lower share counts, and other income gains, partially offset by higher expenses. TXU affirmed its outlook for 2006 operational earnings of $5.50-$5.75 per share and a 2% increase for 2007. The company also provided updates on its Power the Future of Texas program to develop new solid-fuel power generation capacity.
- Southern Company reported third quarter earnings of $780.4 million, or $1.01 per share, compared to $762 million, or $1.00 per share in the third quarter of 2007. Revenues increased 12.3% to $5.43 billion.
- Kilowatt-hour sales decreased 4.6% for the quarter and 1.7% for the first nine months of the year compared to the same periods in 2007, due primarily to milder weather.
- Earnings were positively impacted by increased retail rates and market-response rates for commercial and industrial customers, but offset by mild weather, asset depreciation, and a sluggish economy.
DTE Energy reported a loss for the second quarter of 2006 compared to a profit in the same period in 2005. Operating earnings, which exclude non-recurring items, were down slightly from the prior year. The company maintained its full-year 2006 earnings guidance despite pressure from high oil prices impacting its synfuel operations. Capital investment projects across its utility and non-utility businesses remained on track.
DTE Energy raised its 2008 earnings guidance due to strong expected performance across several business segments. It reported first quarter 2008 earnings of $212 million compared to $134 million in first quarter 2007. Operating earnings for first quarter 2008 were $128 million compared to $112 million in first quarter 2007, driven by higher earnings from energy trading. Several business segments experienced improved earnings compared to first quarter 2007. DTE Energy also saw higher cash flows from operations compared to first quarter 2007.
DTE Energy reported second quarter 2007 earnings of $385 million, up from a loss of $33 million in the second quarter of 2006. Operating earnings were $101 million for the quarter, an increase from an operating loss of $1 million in the prior year. The sale of the company's Antrim Shale gas exploration business and increased non-utility earnings contributed to the earnings growth. DTE Energy also reported year-to-date cash flow from operations of approximately $998 million, a 12% increase from the previous year. The company reiterated its 2007 operating earnings guidance excluding synthetic fuel of $450-485 million and including synthetic fuel of $150-215 million.
DTE Energy reported second quarter 2007 earnings of $385 million, up from a loss of $33 million in the second quarter of 2006. Operating earnings were $101 million for the quarter, an increase from an operating loss of $1 million in the prior year. The sale of the company's Antrim Shale gas business and increased non-utility earnings contributed to the earnings growth. DTE Energy also reported year-to-date cash flow from operations of approximately $998 million, a 12% increase from the previous year. The company reiterated its 2007 operating earnings guidance excluding synthetic fuel of $450-485 million and including synthetic fuel of $150-215 million.
Progress Energy reported first-quarter 2007 earnings of $1.08 per share, up from $0.18 per share in the prior year period. Ongoing earnings were $0.80 per share compared to $0.50 per share last year, driven by lower taxes and expenses. Core ongoing earnings excluding coal and synthetic fuels were $0.61 per share versus $0.46 per share. The company reaffirmed its 2007 ongoing earnings guidance of $2.70 to $2.90 per share and sees non-core earnings of $0.30 to $0.40 per share from synthetic fuels.
Celanese Corporation reported record second quarter results for 2008, with net sales increasing 20% and operating profit more than doubling compared to the second quarter of 2007. Several of Celanese's business segments saw higher sales and profits driven by increased pricing, volumes, and currency impacts. Despite challenges from higher raw material and energy costs, the company reaffirmed its full-year 2008 outlook for adjusted earnings per share and operating EBITDA.
energy future holindings Q106EARNINGS_FINALfinance29
TXU reported improved financial results for the first quarter of 2006 compared to the first quarter of 2005. Net income increased to $576 million from $416 million in the prior year period. Operational earnings, which exclude special items, also increased significantly, reaching $1.09 per share compared to $0.51 per share in 2005. TXU affirmed its outlook for 2006 and 2007, and announced plans to invest $10 billion to build new coal and lignite power plants in Texas to meet growing energy demand and lower costs.
- AES reported strong third quarter results in 2008, with earnings per share up 57% and adjusted earnings per share up 47% compared to third quarter 2007. Cash flow also increased, with consolidated free cash flow up 9%.
- For full year 2008, AES reaffirmed its operating cash flow and free cash flow guidance but lowered adjusted earnings per share guidance to reflect foreign currency losses. Guidance for 2009 was also lowered primarily due to changes in foreign exchange rate assumptions.
- AES continues to strengthen its financial position and expects that debt maturities in 2009-2010 will be met by existing cash flows. The company is well positioned to weather current market conditions.
This document provides a summary of Time Warner Inc.'s financial results for the full year and fourth quarter of 2008. It reports that revenues grew 1% to $47 billion for the full year, while adjusted operating income before depreciation and amortization rose 1% to $13 billion. However, the company posted an operating loss of $16 billion for the full year due to a $24 billion non-cash impairment charge. For the fourth quarter, revenues declined 3% to $12.3 billion while adjusted operating income fell 8% to $3.2 billion, and the operating loss was $22.2 billion. Segment results are also provided.
energy future holindings 2_27_07_Q4_06_Earnings_Release_With_Exhibits_FINALfinance29
TXU reported financial results for the fourth quarter and full year of 2006. For the fourth quarter, TXU reported net income of $475 million compared to $356 million in the previous year. For the full year, TXU reported net income of $2,552 million compared to $1,712 million the previous year. Operational earnings, which exclude special items, were $556 million for the fourth quarter and $2,592 million for the full year, increases from the previous years. TXU also announced that it had reached a definitive merger agreement to be acquired for $45 billion, representing a 25% premium over its share price.
DTE Energy announced its 2007 financial results. Reported earnings were $971 million or $5.70 per share, up from $433 million or $2.43 per share in 2006. This was largely driven by asset sales. Operating earnings, which exclude asset sales, were $2.82 per share, down slightly from $2.89 per share in 2006. For 2008, DTE Energy expects operating earnings between $2.70 to $3.10 per share and continues its focus on investments in its utility businesses.
DTE Energy announced its 2007 financial results. Reported earnings were $971 million or $5.70 per share, up from $433 million or $2.43 per share in 2006. This was largely driven by asset sales. Operating earnings excluding special items were $2.82 per share, down slightly from $2.89 per share in 2006. DTE Energy expects over 80% of its earnings to come from its utility businesses going forward and provided 2008 operating earnings guidance of $2.70 to $3.10 per share.
DTE Energy reported strong third quarter 2006 earnings of $188 million compared to $4 million in third quarter 2005. Operating earnings, which exclude non-recurring items, were $255 million in third quarter 2006 compared to $5 million in third quarter 2005. All of DTE Energy's business segments experienced increased operating earnings except for Gas Utility which typically has a seasonal loss in the third quarter. DTE Energy tightened its full year 2006 operating earnings guidance excluding synthetic fuels to be between $2.42 to $2.53 per share.
DTE Energy reported strong third quarter 2006 earnings of $188 million compared to $4 million in third quarter 2005. Operating earnings, which exclude non-recurring items, were $255 million in third quarter 2006 compared to $5 million in third quarter 2005. All of DTE Energy's business segments experienced increased operating earnings except for Gas Utility which typically has a seasonal loss in the third quarter. DTE Energy tightened its full year 2006 operating earnings guidance excluding synthetic fuels to be between $2.42 to $2.53 per share.
Southern Company reported second quarter 2008 earnings of $416.4 million, down from $429.2 million in the second quarter of 2007. Earnings for the first six months of 2008 were $775.6 million, compared to $767.8 million for the same period in 2007. Key factors impacting results included a $67 million charge related to leveraged leases from the 1990s, and the expiration of tax credits for synthetic fuel investments at the end of 2007. Excluding special items, earnings were $0.63 per share for the second quarter of 2008 compared to $0.55 per share for the same period in 2007. Total energy sales to customers decreased 0.7% in the second quarter of
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.
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.
- 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.
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.
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 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.
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.
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.
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 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.
The document summarizes the company's financial results for the second quarter of fiscal year 2007 compared to the same period in 2006. Net income increased 20% to $106.5 million, driven by a 21% rise in utility throughput from colder weather. Earnings per share increased 9% to $1.10. While utility profits grew due to higher volumes, natural gas marketing profits declined because of unrealized losses from changes in storage and contract values.
The document is a presentation by Pat Reddy, SVP and CFO of Atmos Energy Corporation, given at the Wachovia Nantucket Equity Conference on June 26, 2007. It provides an overview of Atmos Energy, including its growth through acquisitions, focus on maximizing core utility earnings, complementary nonutility operations, and recent regulatory and project activities. Forward-looking statements are presented, subject to various risk factors.
The document summarizes a company's fiscal 2007 third quarter financial results conference call. It provides details on the company's net loss, loss per share, and income/loss by segment for the third quarter. It also reviews key drivers of financial performance such as increased utility throughput, rate adjustments, higher operation and maintenance expenses, and capital expenditures. Financial results for the year-to-date period through the third quarter are also presented.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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1. News Release
Analysts and Media Contact:
Susan Giles (972) 855-3729
Atmos Energy Corporation Reports Earnings for the Fiscal 2008 First Quarter;
Company Affirms Fiscal 2008 Guidance
DALLAS (February 5, 2008)—Atmos Energy Corporation (NYSE: ATO) today reported
consolidated results for its fiscal 2008 first quarter ended December 31, 2007.
• Fiscal 2008 first quarter net income was $73.8 million, or $0.82 per diluted share,
compared with net income of $81.3 million, or $0.97 per diluted share in the prior-year
quarter.
• Regulated operations contributed $50.0 million of net income, or $0.56 per diluted share
for the fiscal 2008 first quarter, compared with $41.5 million of net income or $0.50 per
diluted share in the prior-year quarter.
• Nonregulated operations contributed $23.8 million of net income in the fiscal 2008 first
quarter, or $0.26 per diluted share, compared with $39.8 million of net income or $0.47
per diluted share for the same period last year.
• The tentative Mid-Tex Division rate case settlement, with a group representing 52 percent
of the division’s customers announced in January 2008, is anticipated to have no material
impact on fiscal 2008 results.
• Atmos Energy affirms its fiscal 2008 earnings guidance of $1.95 to $2.05 per diluted
share.
“The year is off to a fine start,” said Robert W. Best, chairman, president and chief executive
officer of Atmos Energy Corporation. “Our regulated gas distribution business performed solidly
this quarter, with net income rising over 25 percent from a year ago. Successful execution of our
regulatory strategy has further stabilized margins in this core segment. And, in our nonregulated
marketing business, although dampening natural gas price volatility provided less opportunity to
generate the margins achieved over the last couple of years, we are encouraged that our
marketing efforts continue to generate increasing sales volumes.”
Natural gas distribution gross profit increased $10.6 million to $273.2 million for the fiscal 2008
first quarter, compared with $262.6 million in the prior-year quarter, before intersegment
eliminations. This increase primarily reflects a net $9.3 million increase in rates in the company’s
Mid-Tex, Louisiana, Tennessee and Kentucky service areas.
1
2. Regulated transmission and storage gross profit increased $5.1 million to $45.0 million for the
three months ended December 31, 2007, compared with $39.9 million for the three months
ended December 31, 2006, before intersegment eliminations. This increase reflects higher
revenues resulting from the company’s 2006 filing under the Texas Gas Reliability Infrastructure
Program (GRIP), a 17 percent increase in throughput, primarily associated with increased
production in the Barnett Shale and Carthage regions in Texas and higher per unit margins
attributable to more favorable market conditions. These increases were partially offset by lower
fees for storage, parking and lending services.
Natural gas marketing gross profit decreased $17.1 million to $46.0 million for the fiscal 2008
first quarter, compared with $63.1 million for the fiscal 2007 first quarter, before intersegment
eliminations. This decrease primarily reflects a $20.5 million reduction in unrealized margins
quarter over quarter. Additionally, delivered gas margins decreased $1.9 million, compared with
the prior-year quarter, despite a 24 percent increase in sales volumes, due to significantly lower
unit margins earned in a less volatile market. Realized losses incurred from Atmos Energy
Marketing’s (AEM) storage and trading activities decreased $5.3 million during the current-year
quarter compared to the prior-year quarter. The decrease reflects smaller losses incurred on the
settlement of financial positions, partially offset by lower margins earned from cycling gas in a
less volatile natural gas market.
Pipeline, storage and other gross profit decreased $5.1 million to $6.0 million for the three
months ended December 31, 2007, compared with $11.1 million for the three months ended
December 31, 2006, before intersegment eliminations. The decrease primarily was due to lower
unrealized margins associated with storage and trading activities.
Consolidated operation and maintenance expense for the first quarter of fiscal 2008 was $121.2
million, compared with $115.4 million for the first quarter last year. Excluding the provision for
doubtful accounts, operation and maintenance expense for the current quarter increased $7.9
million, compared with the prior-year quarter. The increase primarily was attributable to higher
employee, pipeline maintenance, odorization and fuel costs.
The provision for doubtful accounts decreased $2.1 million to $4.6 million for three months
ended December 31, 2007, compared with $6.7 million for the three months ended December 31,
2006. The decrease primarily was due to a reduction in revenues associated with lower natural
gas prices. In the natural gas distribution segment, the average cost of natural gas for the three
months ended December 31, 2007, was $7.73 per thousand cubic feet (Mcf), compared with
$8.12 per Mcf for the three months ended December 31, 2006.
Interest charges for the three months ended December 31, 2007 were $36.8 million, compared
with $39.5 million for the three months ended December 31, 2006. The $2.7 million quarter-
over-quarter decrease primarily was due to lower average short-term debt balances experienced
in the current period.
The capitalization ratio at December 31, 2007, was 53.4 percent, compared to 53.7 percent at
September 30, 2007, and 54.9 percent at December 31, 2006. Short-term debt was $202.2 million
at December 31, 2007, compared to $150.6 million at September 30, 2007, and $154.5 million at
December 31, 2006.
For the three months ended December 31, 2007, operating activities provided cash of $61.4
million, compared with $165.0 million for the three months ended December 31, 2006. Quarter
over quarter, the decrease in operating cash flow reflects unfavorable changes in various working
2
3. capital items, primarily related to the natural gas marketing business and matters related to the
timing of tax payments and receivables.
Capital expenditures increased to $94.2 million for the current quarter, compared with $87.0
million for the same period last year. The $7.2 million increase primarily reflects spending in the
natural gas distribution segment related to the company’s new automated metering initiative.
Outlook
The leadership of Atmos Energy remains focused on enhancing shareholder value by delivering
consistent earnings growth. Atmos Energy continues to project fiscal 2008 earnings to be in the
range of $1.95 to $2.05 per diluted share and capital expenditures are expected to range from
$450 million to $465 million. Major assumptions underlying the earnings projection remain
unchanged. The assumptions include a reduced contribution from the natural gas marketing
segment due to less volatility in natural gas prices, continued successful execution of the rate
strategy in the natural gas distribution segment, normal weather, an average annual short term-
interest rate of 6.5 percent and no material acquisitions. However, the mark-to-market impact on
the nonregulated marketing company’s physical storage inventory at September 30, 2008, and
changes in events or other circumstances that the company cannot currently anticipate or predict,
could result in earnings for fiscal 2008 that are significantly above or below this outlook.
Conference Call to be Webcast February 6, 2008
Atmos Energy will host a conference call with financial analysts to discuss the financial results
for the fiscal 2008 first quarter on Wednesday, February 6, 2008, at 8 a.m. EST. The telephone
number is 800-240-4186. The conference call will be webcast live on the Atmos Energy Web site
at www.atmosenergy.com. A playback of the call will be available on the Web site later that day.
Atmos Energy officers who will participate in the conference call include: Bob Best, chairman,
president and chief executive officer; Pat Reddy, senior vice president and chief financial officer;
Kim Cocklin, senior vice president, regulated operations; Mark Johnson, senior vice president,
nonregulated operations; Fred Meisenheimer, vice president and controller; Laurie Sherwood,
vice president, corporate development, and treasurer; and Susan Giles, vice president, investor
relations.
Highlights and Recent Developments
Mid-Tex Division Tentative Rate Case Settlement
On January 10, 2008, the company announced that it had entered into a settlement agreement
with the Atmos Cities Steering Committee (“ACSC”), on behalf of its 151 cities located in the
division. Such cities represent about 52 percent of the total number of residential customers in
the Mid-Tex Division. The settlement agreement is subject to approval by each of the cities in
the ACSC. Key provisions of the settlement include an increase of about 20 cents per month in
the average residential customer’s bill, effective March 1, 2008, the implementation of a Rate
Review Mechanism (RRM) to be effective for a three-year trial period that will reflect annual
changes in the Mid-Tex Division’s cost of service and rate base and an authorized return on
equity of 9.6 percent, with the cost of debt and capital structure substantially unchanged from the
Mid-Tex Division’s prior rate case.
The company remains in negotiations with cities which represent the majority of the remaining
Mid-Tex customers. Hearings are scheduled to begin February 25, 2008, for the cities that have
not reached a settlement by that date. As a result of the uncertainty surrounding the final
outcome of these negotiations and the timing of the implementation of the new rates granted in
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4. the tentative settlement agreement, Atmos Energy anticipates that the settlement will not have a
material impact on fiscal 2008 results.
FERC Investigation
On December 13, 2007, the company received data requests from the Division of Investigations
of the Office of Enforcement of the Federal Energy Regulatory Commission (the “Commission”)
in connection with its investigation into possible violations of the Commission’s posting and
competitive bidding regulations for pre-arranged released firm capacity on natural gas pipelines.
The company submitted its responses to the data requests on a timely basis and intends to fully
cooperate with the Commission during its investigation.
Forward-Looking Statements
The matters discussed in this news release may contain “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements other than statements of historical fact included in this
news release are forward-looking statements made in good faith by the company and are
intended to qualify for the safe harbor from liability established by the Private Securities
Litigation Reform Act of 1995. When used in this news release or in any of the company’s other
documents or oral presentations, the words “anticipate,” “believe,” “estimate,” “expect,”
“forecast,” “goal,” “intend,” “objective,” “plan,” “projection,” “seek,” “strategy” or similar
words are intended to identify forward-looking statements. Such forward-looking statements are
subject to risks and uncertainties that could cause actual results to differ materially from those
discussed in this news release, including the risks and uncertainties relating to regulatory trends
and decisions, the company’s ability to continue to access the capital markets and the other
factors discussed in the company’s SEC filings. These factors include the risks and uncertainties
discussed in the company’s Annual Report on Form 10-K for the fiscal year ended September
30, 2007. Although the company believes these forward-looking statements to be reasonable,
there can be no assurance that they will approximate actual experience or that the expectations
derived from them will be realized. The company undertakes no obligation to update or revise
forward-looking statements, whether as a result of new information, future events or otherwise.
About Atmos Energy
Atmos Energy Corporation, headquartered in Dallas, is the country’s largest natural-gas-only
distributor, serving about 3.2 million natural gas distribution customers in more than 1,600
communities in 12 states from the Blue Ridge Mountains in the East to the Rocky Mountains in
the West. Atmos Energy also provides natural gas marketing and procurement services to
industrial, commercial and municipal customers in 22 states and manages company-owned
natural gas pipeline and storage assets, including one of the largest intrastate natural gas pipeline
systems in Texas. Atmos Energy is a Fortune 500 company. For more information, visit
www.atmosenergy.com.
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5. Atmos Energy Corporation
Financial Highlights (Unaudited)
Three Months Ended
Statements of Income December 31 Percentage
(000s except per share) 2007 2006 Change
Gross Profit:
Natural gas distribution segment $ 273,200 $ 262,568 4%
Regulated transmission and storage segment 45,046 39,872 13%
Natural gas marketing segment 45,963 63,134 (27)%
Pipeline, storage and other segment 5,998 11,108 (46)%
Intersegment eliminations (569) (1,090) 48%
Gross profit 369,638 375,592 (2)%
Operation and maintenance expense 121,189 115,370 5%
Depreciation and amortization 48,513 48,995 (1)%
Taxes, other than income 41,427 40,067 3%
Total operating expenses 211,129 204,432 3%
Operating income 158,509 171,160 (7)%
Miscellaneous income (expense) (93) 1,579 (106)%
Interest charges 36,817 39,532 (7)%
Income before income taxes 121,599 133,207 (9)%
Income tax expense 47,796 51,946 (8)%
Net income $ 73,803 $ 81,261 (9)%
Basic net income per share $ 0.83 $ 0.98
Diluted net income per share $ 0.82 $ 0.97
Cash dividends per share $ .325 $ .320
Weighted average shares outstanding:
Basic 89,006 82,726
Diluted 89,608 83,350
Three Months Ended
December 31 Percentage
Summary Net Income by Segment (000s) 2007 2006 Change
Natural gas distribution $ 40,164 $ 31,834 26%
Regulated transmission and storage 9,847 9,651 2%
Natural gas marketing 20,600 34,947 (41)%
Pipeline, storage and other 3,192 4,829 (34)%
Consolidated net income $ 73,803 $ 81,261 (9)%
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6. Atmos Energy Corporation
Financial Highlights, continued (Unaudited)
Condensed Balance Sheets December 31, September 30,
(000s) 2007 2007
Net property, plant and equipment $ 3,888,126 $ 3,836,836
Cash and cash equivalents 51,874 60,725
Cash held on deposit in margin account — —
Accounts receivable, net 776,866 380,133
Gas stored underground 564,426 515,128
Other current assets 126,855 112,909
Total current assets 1,520,021 1,068,895
Goodwill and intangible assets 737,536 737,692
Deferred charges and other assets 254,080 253,494
$ 6,399,763 $ 5,896,917
Shareholders’ equity $ 2,032,483 $ 1,965,754
Long-term debt 2,124,915 2,126,315
Total capitalization 4,157,398 4,092,069
Accounts payable and accrued liabilities 739,807 355,255
Other current liabilities 389,937 409,993
Short-term debt 202,244 150,599
Current maturities of long-term debt 3,618 3,831
Total current liabilities 1,335,606 919,678
Deferred income taxes 378,425 370,569
Deferred credits and other liabilities 528,334 514,601
$ 6,399,763 $ 5,896,917
6
7. Atmos Energy Corporation
Financial Highlights, continued (Unaudited)
Three Months Ended
Condensed Statements of Cash Flows December 31
(000s) 2007 2006
Cash flows from operating activities
Net income $ 73,803 $ 81,261
Depreciation and amortization 48,536 49,078
Deferred income taxes 11,978 13,869
Changes in assets and liabilities (77,286) 16,043
Other 4,406 4,718
Net cash provided by operating activities 61,437 164,969
Cash flows from investing activities
Capital expenditures (94,155) (86,986)
Other, net (1,874) (1,324)
Net cash used in investing activities (96,029) (88,310)
Cash flows from financing activities
Net increase (decrease) in short-term debt 50,690 (227,945)
Repayment of long-term debt (1,741) (1,717)
Cash dividends paid (29,178) (26,261)
Net proceeds from equity offering — 192,261
Issuance of common stock 5,970 5,594
Net cash provided by (used in) financing activities 25,741 (58,068)
Net increase (decrease) in cash and cash equivalents (8,851) 18,591
Cash and cash equivalents at beginning of period 60,725 75,815
Cash and cash equivalents at end of period $ 51,874 $ 94,406
Three Months Ended
December 31
Statistics 2007 2006
Heating degree days * 1,081 1,135
Percent of normal * 98% 101%
Consolidated natural gas distribution
throughput (MMcf as metered) 118,516 119,094
Consolidated regulated transmission and storage
transportation volumes (MMcf) 136,200 116,813
Consolidated natural gas marketing sales
volumes (MMcf) 96,206 77,526
Natural gas distribution meters in service 3,222,330 3,213,413
Natural gas distribution average cost of gas $7.73 $8.12
Natural gas marketing net physical position (Bcf) 17.7 21.0
* Adjusted for weather-normalized operations.
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