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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023. 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 jurisdict ...

ONE Gas, Inc. (NYSE:OGS) Q4 2023 Earnings Conference Call February 22, 2024 11:00 AM ET Company Participants Christopher Sighinolfi - SVP and CFO Sid McAnnally - President and CEO Curtis Dinan - SVP and COO Conference Call Participants Christopher Jeffrey - Mizuho Securities Operator Good day, and welcome to the ONE Gas Fourth Quarter and Yearend 2023 Earnings Conference Call and Webcast. Today's conference is being recorded. At this time, I would like to turn the conference over to Chris Sighinolfi. Pleas ...

Financial Data and Key Metrics Changes - The company reported net income for Q3 2023 of $25.2 million, or $0.45 per diluted share, compared to $23.7 million, or $0.44 per diluted share in Q3 2022, indicating a year-over-year increase in earnings [31] - Earnings per diluted share guidance has been narrowed to a range of $4.06 to $4.22 for the year [30] - Interest expense through the first three quarters of 2023 is up approximately 40% from the same period last year, primarily due to rising rates on commercial paper and the issuance of $300 million of 4.25% senior notes in August 2022 [8] Business Line Data and Key Metrics Changes - The company expects to invest approximately $725 million in capital for 2023, an increase from the original guidance of $675 million, mainly due to system maintenance and reinforcement projects [7] - Employee expenses increased by $7.5 million due to planned workforce investments, although there was a decrease of $2.3 million in outside services costs as work was insourced [9] Market Data and Key Metrics Changes - The company is experiencing strong economic growth in Texas, Oklahoma, and Kansas, with new manufacturing and technology-based jobs driving demand for natural gas [4][5] - Despite elevated mortgage rates impacting homebuilding, the company remains optimistic about long-term growth in its service territories [29] Company Strategy and Development Direction - The company is focused on prudent expense management and enhancing system reliability while meeting growing customer demand [27] - A significant investment in capital projects is aimed at supporting future customer needs and ensuring safety remains a top priority [29] - The company is actively pursuing regulatory approvals for new tariffs and rate adjustments to recover infrastructure investments [12][13] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by inflation and rising interest rates but emphasized the company's ability to navigate these issues effectively [30] - The company remains confident in the durability of its growth, supported by ongoing economic development in its service areas [20][61] Other Important Information - The company expanded its credit facility to $1.2 billion from $1 billion to ensure adequate liquidity amid geopolitical uncertainties [11] - The company welcomed a new Senior Vice President and Chief Human Resources Officer to enhance workforce development [42] Q&A Session Summary Question: EPS growth outlook amidst recent shifts - Management noted that while there are many moving parts affecting the five-year outlook, they remain confident in the 4% to 6% EPS growth outlook despite recent challenges [18] Question: Timing for 2024 annual guidance slides - Management indicated that they plan to continue the cadence established last year for releasing guidance, aiming for transparency regarding future opportunities [49][64] Question: Customer bill trajectory for winter 2023-2024 - Management projected an 8% to 10% decrease in average customer bills compared to the previous year, which averaged around $81 per month [55] Question: Weather impact on EPS guidance - Management stated that they anticipate normal weather and are largely protected from significant swings due to their weather normalization mechanism, thus not seeing much volatility in EPS [56]

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 September 30, 2023. Oklahoma 46-3561936 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 15 East Fifth Street Tulsa, OK 74103 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (918) 947-7000 OR ☐ Transitio ...

Financial Data and Key Metrics Changes - Net income for Q2 2023 was $32.7 million or $0.58 per diluted share, compared to $32.1 million or $0.59 per diluted share in Q2 2022, indicating a slight increase in net income year-over-year [13] - Operating income increased by $5.4 million year-over-year, driven by a $14.1 million increase from new rates and growth in the customer base [13] - Operations and maintenance expenses rose by $8 million compared to Q2 2022, primarily due to a $6.7 million increase in employee-related costs [15] Business Line Data and Key Metrics Changes - The company set approximately 25,800 new customer connections in the 12 months ended June 30, 2023, which is a 2% increase year-over-year [23] - Capital expenditures for Q2 were approximately $190 million, up from $149 million in 2022, with full-year capital investments on track for a forecast of $675 million [25] Market Data and Key Metrics Changes - Weather conditions were 7% warmer than the prior year and 11% warmer than normal, but the impact on earnings was mitigated by a weather normalization mechanism [14] - The average commercial paper balance was down 60% compared to last year, but the weighted average interest rate was approximately 5.5%, significantly higher than the 1.3% rate in Q2 2022 [24] Company Strategy and Development Direction - The company is focused on safely operating a growing system while cultivating long-term value, with an emphasis on efficiency and workforce development [7][9] - The company is actively managing macroeconomic conditions and has modified its approach to damage prevention and line locating to reduce costs and improve outcomes [9] Management's Comments on Operating Environment and Future Outlook - Management noted that inflation pressures are cooling at a national level, but the timeline for normalization may be elongated [45] - The company remains optimistic about managing the impact of inflation on operating and maintenance expenses going into 2024 and 2025 [45] Other Important Information - The Board of Directors declared a dividend of $0.65 per share, unchanged from the previous quarter [27] - The company has appointed Deborah Hersman to the Board, bringing significant safety-related experience [37] Q&A Session Summary Question: How does inflation in service territories compare to national levels? - Management indicated that inflation in their territories is in line with national averages, as many contracts are priced based on national CPI [44] Question: Is there an ability to pull forward operating and maintenance expenses? - Management stated that there is limited opportunity to manipulate O&M expenses due to the need for a steady workflow [46] Question: What is the outlook for EPS growth if inflation normalizes? - Management expressed confidence in their positioning and ability to manage short-term challenges while focusing on long-term value creation [49] Question: Update on the energy efficiency program in Texas? - Management is working with the commission to clarify the rollout of the energy efficiency program tailored to specific service areas [58] Question: Timing for full general rate cases? - Management highlighted the recent rate case filed in the Rio Grande Valley service area as the main update [60]