Company Participation in Investor Conferences - ONE Gas, Inc. will participate in several investor conferences in New York City, including the Mizuho Power, Energy & Infrastructure Conference on December 8, 2025, the Jefferies Gas Utilities Virtual Mini-Conference on December 9, 2025, and the Wells Fargo Midstream, Energy & Utilities Symposium on December 10, 2025 [1][2]. Leadership Engagement - The company's leadership team, including Robert S. McAnnally (CEO), Christopher Sighinolfi (CFO), and Curtis Dinan (COO), will conduct meetings with members of the investment community during these events [2]. Company Overview - ONE Gas, Inc. is a 100-percent regulated natural gas utility, trading on the New York Stock Exchange under the symbol "OGS." It is included in the S&P MidCap 400 Index and is one of the largest natural gas utilities in the United States [2]. Customer Base and Service Areas - ONE Gas provides reliable and affordable energy to over 2.3 million customers across Kansas, Oklahoma, and Texas. Its divisions include Kansas Gas Service, Oklahoma Natural Gas, and Texas Gas Service, which are the largest and third-largest natural gas distributors in their respective states [2].

Core Viewpoint - ONE Gas is conducting a financial guidance conference call to discuss its projections for 2026, indicating a focus on future performance and expectations [2]. Group 1: Financial Guidance - The financial guidance presentation is available on the Investor page of the ONE Gas website, highlighting the company's commitment to transparency and investor communication [2]. - The call includes forward-looking statements regarding ONE Gas's expectations, which are protected under safe harbor provisions, indicating a cautious approach to future projections [3]. Group 2: Leadership Participation - The conference call features key executives including Sid McAnnally (President and CEO), Chris Sighinolfi (Senior VP and CFO), and Curtis Dinan (Senior VP and COO), showcasing the involvement of top management in investor relations [4].

Core Viewpoint - ONE Gas is conducting a financial guidance conference call to discuss its expectations and projections for 2026 [2][3]. Group 1: Company Overview - The conference call features key executives including Sid McAnnally (President and CEO), Chris Sighinolfi (Senior VP and CFO), and Curtis Dinan (Senior VP and COO) [4]. Group 2: Financial Guidance - The financial guidance presentation is available on the Investor page of the ONE Gas website, indicating a structured approach to investor communication [2]. - The call is being webcast live, with a replay available later, emphasizing transparency and accessibility for stakeholders [2]. Group 3: Forward-Looking Statements - Statements made during the call may include forward-looking statements, which are subject to safe harbor provisions under various securities laws, highlighting the company's commitment to regulatory compliance [3]. - Actual results may differ materially from projections, indicating the inherent uncertainties in financial forecasting [3].

ONE Gas (NYSE:OGS) Financial Guidance Conference Call Summary Company Overview - **Company**: ONE Gas - **Event**: 2026 Financial Guidance Conference Call - **Date**: December 02, 2025 Key Points Financial Outlook - **Earnings Per Share (EPS) Growth**: Long-term EPS growth outlook increased to 5% to 7% [4][7] - **2026 Net Income Projection**: Expected to range from $294 million to $302 million, with EPS of $4.65 to $4.77, representing an approximate 8% increase over 2025 guidance [7] - **Five-Year Capital Investment**: Projected at approximately $4.3 billion, supporting a 7% to 9% compound annual rate base growth [8][9] Strategic Initiatives - **Infrastructure Expansion**: Focus on large load demand opportunities across a three-state footprint, enhancing infrastructure while minimizing capital risk [5][4] - **Safety and System Integrity**: Central to the company's strategy, with a planned investment of $800 million in capital for 2026, which is $50 million more than the 2025 plan [8][10] Regulatory Updates - **Texas Rate Case**: A partial settlement reached with a $15 million revenue increase and a 9.8% return on equity [13] - **Oklahoma Rate Case**: Next full rate case planned for 2027 [14] Operational Efficiency - **Operating and Maintenance (O&M) Expenses**: CAGR reduced to 3% to 4%, down from 4% due to successful in-sourcing of positions [14] - **Customer Growth**: Anticipated continued demand for natural gas driven by residential housing growth and economic development [15] Capital Deployment and Financing - **Equity Financing Needs**: Expected to decrease by roughly 35% as the company transitions to a more self-funded model [9][10] - **Dividend Growth**: Anticipated compound annual dividend growth rate of 1% to 2% through 2030, subject to Board approval [12] Project Opportunities - **Natural Gas Supply Projects**: Engaging in projects to supply natural gas for significant electric generation needs, including a project for 100 megawatts of on-site generation and another for up to 1.3 gigawatts [16][17] - **Customer-Funded Projects**: Many projects are either fully or partially funded by customers, reducing financial strain on the company [36] Market Conditions - **Interest Rate Impact**: The company benefits from a reduction in the Fed funds rate, which lowers the cost of commercial paper borrowings [11] - **Balance Sheet Strength**: Maintains a healthy balance sheet with an adjusted CFO to debt ratio expected to improve from approximately 19% to 20% by 2030 [11] Closing Remarks - **Commitment to Stakeholders**: The company emphasizes its commitment to creating value for stakeholders while maintaining affordability and safety for customers [19] Additional Insights - **Forward-Looking Statements**: The call included forward-looking statements covered by Safe Harbor provisions, indicating potential risks and uncertainties [2][3] - **Market Engagement**: The company plans to attend several industry conferences, indicating ongoing engagement with investors and stakeholders [50]

Financial Performance & Outlook - ONE Gas expects net income for 2026 to be in the range of $294 million to $302 million[12] - The company anticipates an EPS range of $4.65 to $4.77 per diluted share, assuming approximately 63.4 million diluted shares outstanding[12] - Long-term net income growth is projected at 7-9% for the 2025-2030 period[21] - Long-term EPS growth is expected to be 5-7%, raised from a previous estimate of 4-6%[21] Capital Investments & Rate Base - 2026 capital investments are estimated at approximately $800 million, with around $230 million allocated to customer growth[12] - The average rate base for 2026 is projected to be approximately $6.3 billion[12] - Capital investments from 2022 to 2026G are: System Integrity ~$2.5 billion, Customer Growth ~$1.2 billion[21] - Average annual rate base growth is expected to be 7-9%[21] Financing Activities - ONE Gas completed a $250 million term loan in August 2025, maturing in September 2026[12] - The company has forward sale agreements covering approximately 2.9 million shares at an average price of ~$78/share, totaling ~$226 million[12, 16] - Net long-term financing needs through 2030 are estimated at ~$1.3 billion, with approximately 30% expected to be equity issuances[14] Market Position - ONE Gas has a 71% market share in Kansas, 89% in Oklahoma, and 13% in Texas[8]

Core Viewpoint - ONE Gas, Inc. has provided financial guidance for 2026, projecting net income between $294 million and $302 million, with a diluted earnings per share of $4.65 to $4.77, while also raising its long-term earnings growth rate to 5% to 7% from the previous 4% to 6% [1][2][5]. 2026 Financial Guidance - The expected net income for 2026 is projected to be in the range of $294 million to $302 million, with a midpoint of $298 million [2][3]. - Earnings per diluted share are anticipated to be between $4.65 and $4.77, with a midpoint of $4.71 [2]. - The guidance reflects benefits from new rates and customer growth, offset by higher operating and depreciation expenses [3]. Capital Investments - Capital investments for 2026 are expected to be approximately $800 million, focusing on system integrity and replacement projects [4]. - An additional $230 million is earmarked for extensions to new customers, driven by growth opportunities in Texas and Oklahoma [4]. - The anticipated average rate base for 2026 is projected at $6.3 billion [4]. Five-Year Financial Growth Rates - For the five years ending in 2030, capital investments are expected to range from $800 million to $900 million annually, totaling approximately $4.3 billion, including $1.2 billion for growth capital [5]. - Average annual net income and diluted earnings per share are expected to increase by 7% to 9% and 5% to 7%, respectively, over the long term [6]. - Operating costs are projected to rise by approximately 3% to 4% per year, a decrease from the previously indicated 4% average annual increase [6]. Financing Needs - The company estimates total net long-term financing needs of approximately $1.3 billion from 2026 to 2030, with around 30% expected to be equity [7]. Dividend Growth - ONE Gas anticipates an average annual dividend growth rate of 1% to 2% through 2030, subject to board approval [9].

Core Points - ONE Gas, Inc. announced the retirement of John W. Gibson as chair of the board after the Annual Meeting for Shareholders in May 2026, marking his leadership since the company's inception in 2014 [1] - Deborah A.P. Hersman has been elected as the new chair of the board, effective May 21, 2026, following a comprehensive succession planning process [1] - Hersman brings extensive experience in safety, technology, and public policy, having previously served as chair of the National Transportation Safety Board and chief safety officer of Waymo [1][6][7] Company Overview - ONE Gas, Inc. is a 100-percent regulated natural gas utility, trading on the New York Stock Exchange under the symbol "OGS" and included in the S&P MidCap 400 Index [3] - The company provides reliable and affordable energy to over 2.3 million customers across Kansas, Oklahoma, and Texas, with divisions including Kansas Gas Service, Oklahoma Natural Gas, and Texas Gas Service [4] Leadership Transition - John W. Gibson's leadership is credited with creating value for shareholders and establishing a framework for growth during his tenure [1] - Deborah Hersman's election is seen as a move to strengthen the board's diversity of experience and strategic focus, aligning with the company's commitment to operational excellence and sustainable growth [1][2]

Core Points - ONE Gas, Inc. announced a dual listing of its common stock on NYSE Texas, effective November 11, 2025, alongside its primary listing on the New York Stock Exchange [1][3] - The dual listing is part of ONE Gas's commitment to Texas, aiming to enhance investor access and awareness of its mission to provide safe and affordable natural gas services [2][3] - ONE Gas is recognized as one of the largest regulated natural gas utilities in the United States and is included in the S&P MidCap 400 Index [4] Company Overview - ONE Gas, Inc. is a fully regulated natural gas utility, serving over 2.3 million customers across Kansas, Oklahoma, and Texas [5] - The company operates through three divisions: Kansas Gas Service, Oklahoma Natural Gas, and Texas Gas Service, which are the largest and third-largest natural gas distributors in their respective states [5] Additional Information - The company will continue to trade under the ticker symbol "OGS" on both NYSE and NYSE Texas [3] - ONE Gas's president and CEO emphasized the importance of community ties and the strategic nature of this dual listing [2]

Financial Performance - Net income for the three months ended September 30, 2025, was $26,466,000, compared to $19,268,000 for the same period in 2024, representing an increase of 37.0%[19] - For the nine months ended September 30, 2025, net income was $177,918,000, up from $145,828,000 in 2024, reflecting a growth of 21.9%[19] - ONE Gas reported net income of $119.4 million for the three months ended March 31, 2025, compared to $99.3 million for the same period in 2024, representing a 20.3% increase[37] - For the three months ended September 30, 2025, the net income available for common stock was $26.466 million, resulting in a basic EPS of $0.44, compared to $19.268 million and $0.34 for the same period in 2024, representing a 37.5% increase in net income[64] - For the nine months ended September 30, 2025, the net income available for common stock was $177.918 million, leading to a basic EPS of $2.96, up from $145.828 million and $2.57 in the same period of 2024, indicating a 21.9% increase in net income[64] Revenue and Sales - Total revenues for the nine months ended September 30, 2025, were $1.738 billion, up from $1.453 billion for the same period in 2024, reflecting an increase of 19.7%[37] - Natural gas sales to customers for the three months ended September 30, 2025, were $327.0 million, compared to $289.2 million for the same period in 2024, a growth of 13.1%[37] Assets and Liabilities - Total assets as of September 30, 2025, amounted to $8,504,274,000, compared to $8,425,571,000 as of December 31, 2024, indicating an increase of 0.9%[21] - The company reported a decrease in accounts receivable, net, to $210,173,000 as of September 30, 2025, from $408,448,000 as of December 31, 2024, a reduction of 48.7%[21] - The total current liabilities as of September 30, 2025, were $1,453,934,000, slightly down from $1,458,276,000 as of December 31, 2024, a decrease of 0.3%[23] - Total equity as of September 30, 2025, was $3,182,376,000, up from $3,104,548,000 as of December 31, 2024, representing a growth of 2.5%[23] - The total long-term debt, net, increased to $2,635.78 million as of September 30, 2025, compared to $2,414.26 million as of December 31, 2024[52] Cash Flow and Expenditures - Cash provided by operating activities for the nine months ended September 30, 2025, was $535,818,000, compared to $305,781,000 in 2024, showing a significant increase of 75.0%[25] - Capital expenditures for the nine months ended September 30, 2025, totaled $539,433,000, compared to $523,590,000 in 2024, reflecting an increase of 3.0%[25] - The company’s cash, cash equivalents, and restricted cash at the end of the period were $20,785,000, down from $78,537,000 at the beginning of the period, a decline of 73.5%[25] Dividends - The company paid dividends totaling $120,505,000 for the nine months ended September 30, 2025, compared to $112,064,000 in 2024, an increase of 7.5%[25] - The company issued common stock dividends of $0.67 per share, totaling $40.2 million for the three months ended September 30, 2025[37] - The company declared a dividend of $0.67 per share in November 2025, equating to an annualized rate of $2.68 per share[60] Regulatory and Risk Management - The allowance for doubtful accounts was $11.9 million as of September 30, 2025, down from $14.9 million at the end of 2024, indicating improved credit risk management[33] - The company maintains a provision for doubtful accounts based on credit risk assessments, with approximately 2.3 million customers across three states, mitigating concentration of credit risk[181] - The company is subject to various regulatory initiatives that may impact future earnings potential, as detailed in the "Regulatory Activities" section of the financial report[86] - The company utilizes purchased-gas cost adjustment mechanisms to pass through natural gas costs to customers, which helps mitigate commodity price risk[179] Pension and Other Benefits - The net periodic benefit cost for pension benefits for the three months ended September 30, 2025, was $1.427 million, compared to a credit of $(1.386) million in 2024, reflecting a significant change in costs[65] - The company transferred approximately $41.6 million of assets and liabilities related to certain participants in its defined benefit pension plan to a third-party insurance company in August 2025[69] - The company’s obligations under the nonqualified deferred compensation plan were $21.1 million at September 30, 2025, an increase from $18.9 million at December 31, 2024[70] Derivative Instruments and Financial Instruments - The company has not designated any of its derivative instruments as accounting hedges, and these contracts are recoverable through purchased-gas cost adjustment mechanisms[94] - The fair value of derivative instruments - swaps was $6.921 million as of September 30, 2025, compared to $3.213 million at December 31, 2024[97] - The company held over-the-counter natural gas fixed-price swaps with a total notional amount of 7.65 Bcf for the heating season ending March 2026, compared to 6.20 Bcf for the heating season ending March 2025[92] - The company paid premiums of $0.8 million for purchased natural gas call options with a total notional amount of 0.80 Bcf for the heating season ending March 2026, up from $0.6 million for 0.60 Bcf for the previous season[93]

Financial Data and Key Metrics Changes - The company has narrowed its 2025 earnings forecast, now expecting earnings per share to be between $4.34 and $4.40, with net income projected to range between $262 million and $266 million [4][7] - Third quarter net income was $26.5 million, or $0.44 per diluted share, compared to $19.3 million, or $0.34, in the same period last year, reflecting a year-over-year increase [7][8] - Revenues for the third quarter increased by approximately $19.2 million from new rates and $1.4 million from continued customer growth [7] Business Line Data and Key Metrics Changes - Operating and maintenance expenses increased approximately 4.9% year over year, primarily due to higher labor costs and the decision to execute certain activities earlier than planned [8] - The Austin System Reinforcement Project was completed in the third quarter, boosting available winter peak capacity by approximately 25% [5][12] Market Data and Key Metrics Changes - The company serves three states that produce over one-third of U.S. natural gas, with a strong commitment to economic growth and the use of natural gas for residential and commercial applications [4] - The company is actively pursuing growth opportunities in high-growth sectors such as data centers, advanced manufacturing, and utility-scale power generation [4][13] Company Strategy and Development Direction - The company is focused on leveraging growth opportunities while maintaining customer affordability, as demonstrated by the completion of the Austin System Reinforcement Project [5][12] - The company is working on significant utility-scale power generation projects approximating 1.5 gigawatts of capacity across its three states [13][14] - The company aims to provide fast, cost-effective service through existing infrastructure, minimizing capital needs while enhancing system reliability [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the outlook for the rest of the year, citing strong year-to-date performance and the impact of Texas House Bill 4384 [4] - The management noted that the recent Federal Reserve interest rate cuts could positively influence future earnings guidance [20][21] - The company remains committed to providing safe, reliable, and affordable natural gas to its 2.3 million customers [15] Other Important Information - The company plans to settle roughly $200 million of forward shares in December and defer approximately $25 million for year-end 2026 settlement [10] - The board declared a quarterly dividend of $0.67 per share, unchanged from the prior quarter [10] Q&A Session Summary Question: Long-term growth outlook considering legislation and Fed cuts - Management indicated that recent Fed cuts have been earlier than expected and that they anticipate additional cuts in the coming years, which could positively impact earnings guidance [20][21] Question: Clarification on tightening of 2025 guidance range - Management explained that the tightening was due to additional operating and maintenance costs incurred from executing certain activities earlier than planned [22][23] Question: Growth rate above 6% and structural outlook - Management confirmed that the growth rate is structural in nature and expects to be above the high end of the previously outlined range for the duration of the five-year period [32][33] Question: Large load activity and investment opportunities - Management noted that large load projects are being pursued across all three states, leveraging existing systems to respond quickly to customer needs [34][35] Question: Impact of bringing services in-house on O&M costs - Management acknowledged that while there are upfront costs associated with insourcing, the long-term benefits are expected to outweigh these initial investments [39][40] Question: Capital expenditure plans for 2026 - Management indicated an upward trajectory for capital expenditures in 2026, with potential for more punctuated steps up in spending [42][43] Question: Benefits of Texas legislation on capital planning - Management stated that while the Texas legislation provides more opportunities, it will not alter the fundamental approach to capital allocation [55][56] Question: Other opportunities beyond line locating and watch and protect - Management confirmed that they are exploring additional opportunities to bring more services in-house, enhancing capabilities and efficiency [60][61]