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Atmos Energy Business Segments

Business, geographic, and product segment breakdowns

Atmos Energy generates $5.5B in annual revenue across 2 key segments: Distribution segment ($151.0M), and Pipeline and storage segment (-$107.6M). The company-wide operating margin is 37.3%. Based on the Q2 2026 filing.

Distribution segment (TTM)$151.0MPipeline and storage segment (TTM)-$107.6M
Latest FilingQ2 2026
Report Date2026-05-06
Market Cap$28.1B
P/E Ratio17.84
ROE11.23%

Products & Services

Revenues from contracts with customers

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Gas sales revenues$998.3M$1.9B$723.1M$623.7M$1.1B$1.7B
Transportation revenues$302.8M$309.9M$320M$338.3M$358.9M$363.1M
Miscellaneous revenues$5.7M$8.5M$8M$3.7M$5.5M$6.8M

Operating revenues

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Other gas revenues$6.6M$6.6M$6.6M$6.6M——
Transportation revenues$37.5M$37.5M$37.5M$37.5M——

Geographic

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
State$0$0$0$0——

Business Segments

Alternative revenue program revenues

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Distribution segment$67.3M-$20.1M$1.4M$558K$71.8M$77.2M
Pipeline and storage segment-$13.3M-$11.8M-$16.4M-$25M-$33.4M-$32.8M

Depreciation and amortization expense

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Distribution segment$133.6M$134.5M$137.1M$138.6M$146M$146.8M
Pipeline and storage segment$46.9M$48.2M$48.7M$47.1M$48.7M$48.9M

Income Tax

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Distribution segment$51.7M$86.4M$9.7M$3.1M$61.1M$109.7M
Pipeline and storage segment$27.7M$31.1M$34.5M$35.1M$39.5M$42M

Interest charges

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Distribution segment$34.2M$30.1M$22.3M$12.6M$24.4M$29.1M
Pipeline and storage segment$18.7M$19.9M$19.3M$14.6M$9M$19.6M

Net Income

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Distribution segment$240.2M$380.6M$70.5M$55.4M$269.2M$437.3M
Pipeline and storage segment$111.6M$104.9M$115.9M$119.4M$133.7M$144.6M

Operating revenues

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Distribution segment$1.1B$1.9B$767.1M$666.4M$1.3B$1.9B
Pipeline and storage segment$268.7M$270.8M$288.8M$303.5M$320M$322.1M

Operation and maintenance expense

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Distribution segment$145.9M$168.1M——$165.4M$155.9M
Pipeline and storage segment$52.7M$52M——$58.6M$27.1M

Other revenues

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Distribution segment$3.9M$3.5M$3.3M$3.7M$3.8M$3.9M
Pipeline and storage segment$0$0$0$0$0$0

Other segment items

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Distribution segment$503.7M$1.1B——$592.6M$998.9M
Pipeline and storage segment-$2.2M$2.8M——-$2.8M$7.1M

Payments to Acquire Productive Assets

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Distribution segment$625.6M$594.9M$669.5M$772.7M$804.6M$717.1M
Pipeline and storage segment$265.5M$244.8M$197.5M$190.9M$228.8M$286.5M

Public Utilities, Property, Plant and Equipment, Net

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Distribution segment$16.9B$17.4B$18B$18.8B$19.5B$20.1B
Pipeline and storage segment$6B$6.2B$6.4B$6.5B$6.8B$7B

Purchased gas cost

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Distribution segment$422.6M$969M$255.9M$206.8M$497M$870.9M
Pipeline and storage segment-$58K$968K-$1.5M-$708K$1.6M$721K

Total Assets

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Distribution segment$25.6B$26.1B$26.8B$27.3B$28.8B$29.4B
Pipeline and storage segment$6.3B$6.5B$6.7B$6.9B$7.2B$7.4B

Regulatory mechanism threshold (in percentage)

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Pipeline and storage segment75.0%———75.0%—