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Sentiment · FY2026 Q2
| Analyst | Firm | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Rick Sunderland | Truist Securities | 11 | 18% |
| Ryan Levine | Citigroup | 11 | 0% |
| Fei She | Barclays | 8 | 0% |
| Chris Jeffrey | Mizuho Securities | 7 | 0% |
| Paul Zimbardo | Jefferies | 5 | 0% |
| Aditya Gandhi | Wolfe Research | 4 | 0% |
| Dave Arcaro | Morgan Stanley | 4 | 0% |
| Julien Dumoulin-Smith | Jefferies | 3 | 0% |
| Nick Campanella | Barclays | 2 | 0% |
| Gabriel Moreen | Mizuho Securities | 2 | 0% |
| Firm | Analysts | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Jefferies | 4 | 12 | 0% |
| Citigroup | 1 | 11 | 0% |
| Truist Securities | 1 | 11 | 18% |
| Barclays | 2 |
| 10 |
| 0% |
| Mizuho Securities | 2 | 9 | 0% |
| Morgan Stanley | 1 | 4 | 0% |
| Wolfe Research | 1 | 4 | 0% |
| JPMorgan | 1 | 2 | 0% |
Atmos Energy raised FY2026 EPS guidance from $8.15-$8.35 to $8.40-$8.50 in Q2, a 2.4% midpoint increase driven by the Texas Rule 7.7102 regulatory tailwind and strong rate case execution. Revenue was essentially flat at +0.6% due to gas cost pass-through dynamics, but operating income surged 21.6% and EPS grew 14.5%, reflecting the growing disconnect between top-line commodity pass-throughs and underlying regulated utility earnings power. Customer growth remained strong across all Texas segments.
Regulation Policy | Guidance Reliability | Demand | Margin | Capital Allocation | Capex Investment | Cost Pressure | Pricing | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 2 | 4 | 3 | 2 | 3 | 3 | ||
| 2025Q1 | 2 | 2 | 3 | 1 | 1 | 1 | 1 | |
| 2025Q2 | 3 | 1 | 3 | 1 | 1 | 2 | 1 | |
| 2025Q3 | 4 | 2 | 1 | 1 | 1 | 1 | ||
| 2025Q4 | 3 | 2 | 1 | 2 | 2 | 1 | ||
| 2026Q1 | 6 | 2 | 2 | 2 | 1 | |||
| 2026Q2 | 2 | 4 | 2 | 4 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|---|
| Regulation Policy | 2 | 3 | 4 | 3 | 6 | 2 | |
| Guidance Reliability | 2 | 2 | 1 | 2 | 2 | 2 | 4 |
| Demand | 4 | 3 | 3 | 1 | 1 | 2 | |
| Margin | 3 | 1 | 1 | 1 | 2 | 2 | |
| Capital Allocation | 2 | 1 | 1 | 1 | 2 | 2 | |
| Capex Investment | 3 | 1 | 2 | 1 | 1 | ||
| Cost Pressure | 3 | 1 | 1 | 1 | |||
| Pricing | 4 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
ATO Atmos Energy | 7 | +0.6% | |
| NI NiSource | 8 | +8.2% |