Aug 7 (Reuters) - Atmos Energy ( ATO ) posted a rise in
third-quarter profit on Wednesday, as the natural gas utility
benefited from higher tariffs and customer additions.
The company said its distribution operating earnings were
boosted by $30.6 million due to higher rates than last year,
while a higher number of customers lifted earnings by $5.33
million.
Atmos delivers natural gas to about 3 million distribution
customers across eight U.S. states.
The company, which also operates about 5,700 miles of
transmission pipelines in Texas, said its operating earnings in
its pipeline and storage operating earnings rose 40.6% to $137.2
million.
A surge in production as well as capacity constraints have
boosted demand for natural gas pipelines in the U.S.
Its costs for gas purchases at its distribution segment
declined by 12.9%, as U.S. gas prices have plunged this year due
to milder-than-expected weather and storage buildups.
The Dallas, Texas-based company's net income was at $165.6
million, or $1.08 per share, in the quarter ended June 30,
compared with $137.8 million, or 94 cents per share, a year
earlier.