Atmos Energy Corporation (ATO)

Pretax margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	1,059,140	999,641	946,499	934,070	892,813	851,908	827,329	803,984	801,109	819,299	843,148	851,523	799,259	746,796	733,609	711,174	679,856	650,309	644,162	637,548
Revenue (ttm)	US$ in thousands	3,949,815	4,275,355	4,410,341	4,564,037	4,672,887	4,201,667	4,047,423	3,836,547	3,505,797	3,407,487	3,314,017	3,201,459	2,860,054	2,821,137	2,789,906	2,782,649	2,899,624	2,901,843	2,902,860	2,979,367
Pretax margin		26.81%	23.38%	21.46%	20.47%	19.11%	20.28%	20.44%	20.96%	22.85%	24.04%	25.44%	26.60%	27.95%	26.47%	26.30%	25.56%	23.45%	22.41%	22.19%	21.40%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,059,140K ÷ $3,949,815K
= 26.81%

The pretax margin of Atmos Energy Corp. has shown a consistent upward trend over the past few quarters, with Q1 2024 reporting the highest pretax margin of 26.81% compared to the previous quarters. This indicates that the company has been able to effectively control its operating expenses and generate higher profits relative to its total revenue. The increase in pretax margin demonstrates improved operational efficiency and profitability for Atmos Energy Corp. throughout the analyzed period.