"As one of the country's largest natural gas distribution companies serving 2.3 million customers, ONE Gas has an essential role in a sustainable energy future," said Robert S. McAnnally, president and chief executive officer of ONE Gas. "Our Sustainability Report highlights our commitment to safety, serving the growing demand for natural gas in our service territory, investing in our systems and our people, and operating in an environmentally responsible way." Key highlights and milestones during 2023 incl ...

It has been about a month since the last earnings report for ONE Gas (OGS) . Shares have lost about 2.6% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is ONE Gas due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. ONE Gas Q1 Earnings Miss Estimates, Revenues Down Y/ ...

ONE Gas, Inc.'s (OGS) strategic capital expenditures for pipeline integrity and extension of services to new areas should further boost its overall performance. The company is expected to benefit from 100% regulated operations and a high percentage of residential customers. In the past three months, shares of the company have risen 2% compared with the industry's 6% growth. This 100% regulated natural gas distribution utility has a high percentage of residential customers, providing stability and strong vis ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2024. OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from __________ to __________. Commission file number 001-36108 ONE Gas, Inc. (Exact name of registrant as specified in its charter) Oklahoma 46-3561936 (State or other juri ...

Financial Data and Key Metrics Changes - Net income for Q1 2024 was $99 million or $1.75 per diluted share, compared to $103 million or $1.84 in Q1 2023, reflecting a decrease in earnings despite effective weather normalization mechanisms [11][12] - Revenues increased by $11.2 million from new rates and $1.3 million from customer base growth [12] - O&M expenses were approximately 5% higher than the same period last year, continuing a moderating trend [12][19] Business Line Data and Key Metrics Changes - The company continues to add new meters, with over 7,000 new meters set year-to-date through April, including 1,900 in April alone, marking the most active April since 2020 [27] - The Kansas Gas Service rate case was filed in March, requesting a $58.1 million net revenue increase [24] Market Data and Key Metrics Changes - The first quarter experienced 9% warmer weather than normal, but the impact on earnings was mitigated by effective weather normalization mechanisms [11][12] - Higher initial storage balances are expected to lead to less injection during the refill season, with cash flow impacts offset as the year progresses [14][20] Company Strategy and Development Direction - The company is focused on the safe delivery of reliable natural gas and is engaging in regulatory activities to address recent economic developments [7][21] - A dual rate structure for high and low usage customers and an annual performance-based rate adjustment have been requested from the Kansas Corporation Commission [18] Management's Comments on Operating Environment and Future Outlook - Management remains on track to achieve the midpoint of 2024 financial guidance despite challenges from elevated interest rates and inflation [6][11] - The company expects operating expenses to grow by approximately 5% per year through 2028, with ongoing efforts to manage inflationary pressures [12][21] Other Important Information - The company received the American Gas Association Safety Award for the lowest rate of significant injuries among peer companies for the seventh consecutive year [8] - A AAA ESG rating from MSCI was achieved due to effective management of safety and climate-related risks [10] Q&A Session Summary Question: Discussion on debt issuance refinancing and financial plan alignment - Management indicated that current market conditions are favorable, with corporate credit spreads tightening, providing flexibility in maturity schedules [37] Question: Potential settlement of the Kansas rate case and timing - The Kansas rate case typically runs for 240 days, and management expressed optimism about settling without full litigation [39] Question: Insights on O&M inflation and its future trajectory - Management noted that recent O&M inflation was mitigated by in-sourcing efforts and that future inflation will largely depend on labor market conditions [45][46]

ONE Gas, Inc. (OGS) reported first-quarter 2024 operating earnings per share (EPS) of $1.75, which lagged the Zacks Consensus Estimate of $1.78 by 1.7%. The bottom line was also 4.9% lower than the year-ago quarter’s figure of $1.84.The year-over-year decline in EPS was due to an increase in employee related expenses and lower sales volume owing to warmer-than-normal weather. These were marginally offset by higher revenues on the back of implementation of new rates.Total RevenuesONE Gas recorded revenues of ...

ONE Gas (OGS) came out with quarterly earnings of $1.75 per share, missing the Zacks Consensus Estimate of $1.78 per share. This compares to earnings of $1.84 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -1.69%. A quarter ago, it was expected that this natural gas distribution would post earnings of $1.27 per share when it actually produced earnings of $1.27, delivering no surprise.Over the last four quarters, the company h ...

Exhibit 99.1 May 6, 2024 Analyst Contact: Erin Dailey 918-947-7411 Media Contact: Leah Harper 918-947-7123 ONE Gas Announces First Quarter 2024 Financial Results; Affirms 2024 Financial Guidance Declares Second Quarter Dividend FIRST QUARTER 2024 FINANCIAL RESULTS & HIGHLIGHTS -more- • First quarter 2024 net income was $99.3 million, or $1.75 per diluted share, compared with $102.6 million, or $1.84 per diluted share, in the first quarter 2023; • While weather across the Company's service areas was 9 percen ...

Declares Second Quarter Dividend TULSA, Okla., May 6, 2024 /PRNewswire/ -- ONE Gas, Inc. (NYSE: OGS) today announced its first quarter financial results, affirmed its 2024 financial guidance and declared its quarterly dividend. "Efficient capital execution and our focus on safe operations position us well to serve a growing customer base," said Robert S. McAnnally, president and chief executive officer. "Based on our first quarter results, we remain on track to achieve the midpoint of our 2024 financial gui ...

Wall Street expects a year-over-year decline in earnings on lower revenues when ONE Gas (OGS) reports results for the quarter ended March 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on May 6. On the other ...