Financial Performance - Total revenues for 2024 were $2,083,558, a decrease of 12.1% from $2,371,990 in 2023[229]. - Net income for 2024 was $222,850, down 3.3% from $231,232 in 2023[229]. - Operating income increased to $399,044 in 2024, up 5.4% from $377,590 in 2023[229]. - Earnings per share (EPS) for 2024 were $3.92, a decrease from $4.16 in 2023[229]. - Total assets increased to $8,425,571 in 2024, up from $7,770,994 in 2023, reflecting a growth of 8.4%[233]. - Cash and cash equivalents rose to $57,995 in 2024, compared to $18,835 in 2023, indicating a significant increase[233]. - Total equity grew to $3,104,548 in 2024, an increase of 12.3% from $2,765,877 in 2023[235]. - Cash provided by operating activities decreased significantly to $368.41 million in 2024 from $939.53 million in 2023, reflecting a decline of 60.7%[237]. - Capital expenditures increased to $703.17 million in 2024, up from $666.63 million in 2023, representing a rise of 5.5%[237]. - Common stock dividends per share increased to $2.64 in 2024 from $2.60 in 2023, reflecting a 1.5% increase[238]. Customer Base and Market Position - The company has approximately 2.3 million customers across three states, indicating a broad customer base and reduced concentration of credit risk[213]. - The company served approximately 2.3 million customers across Oklahoma, Kansas, and Texas, maintaining its customer base[242]. - The company had no single external customer contributing 10% or more of gross revenues in 2024, 2023, and 2022, indicating a diversified revenue base[243]. Debt and Financing - ONE Gas maintains a $1.35 billion revolving credit agreement, which supports its financing needs[19]. - The ONE Gas Credit Agreement was increased to $1.35 billion in October 2024, up from $1.275 billion in June 2024[308][309]. - At December 31, 2024, the total debt-to-capital ratio was 51.8%, compliant with the ONE Gas Credit Agreement covenants[311]. - Total long-term debt, net, decreased to $2.414 billion in 2024 from $2.961 billion in 2023, with significant reductions in senior notes due February 2024 and March 2024[315]. - The company issued $300 million of 5.10% senior notes due April 2029 in December 2023, and repaid $300 million of 3.61% senior notes upon maturity[318]. - In August 2024, the company reopened its 5.10% senior notes due 2029, issuing an additional $250 million, bringing the total outstanding to $550 million[319]. Risk Management - ONE Gas utilizes purchased-gas cost adjustment mechanisms to mitigate commodity price risk associated with natural gas fluctuations[211]. - Interest-rate risk is managed through fixed-rate and floating-rate debt, as well as interest-rate swaps to stabilize borrowing costs[212]. - The company emphasizes the importance of effective risk-management policies and compliance with internal controls to mitigate operational risks[210]. - The company is subject to various market risks, including changes in inflation, interest rates, and regulatory requirements[210]. Regulatory and Compliance - Regulatory assets included $379 million of deferred costs and $490 million of regulatory liabilities as of December 31, 2024[225]. - The company recorded no write-offs of regulatory assets resulting from failure to meet capitalization criteria during 2024, 2023, and 2022, indicating effective regulatory asset management[277]. - The company reported a net regulatory liability of $(110,872,000) as of December 31, 2024, compared to $(204,165,000) in 2023[298][299]. - The company adopted new accounting standards for income tax disclosures and segment reporting, effective for annual periods beginning after December 15, 2024, and December 15, 2023, respectively[293][294]. Pension and Employee Benefits - The discount rate for pension plans increased to 5.70% in 2024 from 5.30% in 2023[348]. - The expected long-term return on plan assets for pension plans was 6.70% in 2024, slightly down from 6.75% in 2023[349]. - The pension benefit obligation decreased from $803.6 million in 2023 to $731.1 million in 2024, reflecting a reduction of approximately 9%[356]. - The net periodic benefit cost for pension benefits was a credit of $5.5 million in 2024, compared to a credit of $7.5 million in 2023[360]. - The company expects to contribute $9.8 million to its defined benefit pension plans in 2025, with no contributions planned for other postemployment benefit plans[358]. Environmental and Remediation Costs - The company is subject to various environmental regulations that may lead to increased compliance costs and potential future expenditures[396]. - Kansas Gas Service requested to increase the cap on the AAO from $15.0 million to $32 million on January 3, 2025, to cover additional remediation costs[392]. - The reserve for remediation of MGP sites was $14.3 million as of December 31, 2024, unchanged from 2023[394]. - The company received $1.7 million in insurance proceeds for remediation costs during 2024[392].

Financial Data and Key Metrics Changes - For Q4 2024, GAAP net income was $77 million or $1.34 per diluted share, compared to $71 million and $1.27 in Q4 2023, reflecting a year-over-year increase [13] - Full year GAAP net income was $223 million or $3.91 per diluted share, down from $231 million and $4.14 in 2023 [13] - O&M expenses for the year increased approximately 4%, with a 2.4% year-over-year increase in Q4 [14] - Capital expenditures for Q4 were $190 million, totaling $762 million for the year, compared to $729 million in 2023 [20] Business Line Data and Key Metrics Changes - The company set 23,000 new meters across its service territory in 2024, indicating robust customer growth [10] - The completion of the bare steel service line replacement program in Kansas was highlighted as a significant achievement [10] Market Data and Key Metrics Changes - The company experienced a 24% warmer-than-normal weather in Q4, but the impact on earnings was mitigated by effective weather normalization mechanisms [14] - The authorized rate base at year-end was approximately $5.4 billion, with an estimated average rate base of $5.8 billion for 2025 [21] Company Strategy and Development Direction - The company is focused on modernizing its distribution system and has completed significant projects to enhance safety and reduce emissions [9][10] - There is an ongoing exploration of opportunities to supply natural gas for power generation, particularly for data centers and industrial applications [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to meet growing demand for natural gas driven by new housing and economic development in Kansas, Oklahoma, and Texas [10] - The company reiterated its 2025 financial guidance, projecting net income of $254 million to $261 million and earnings per diluted share of $4.20 to $4.32 [21] Other Important Information - The company’s credit ratings were affirmed by S&P and Moody's, indicating a stable outlook [19] - The company has increased its dividend to $0.67 per share, reflecting a commitment to returning value to shareholders [21] Q&A Session Summary Question: Regarding data centers and their development timeline - Management noted that the timeframe for opportunities related to data centers varies, with some projects aligning with existing infrastructure [44][48] Question: Impact of weather on working capital and commercial paper balance - Management indicated that warmer weather in Q4 affected storage inventory liquidation, but colder weather in January has aligned storage with plans [52][55] Question: Guidance for the current year and expectations - Management highlighted the historical performance of achieving at least the midpoint of year-ahead guidance since 2014, but did not provide specific guidance for the current year [60][62] Question: Transmission systems and their impact on gas supply opportunities - Management clarified that current opportunities for gas supply are independent of the transmission decisions being made [63][67]

ONE Gas, Inc. (OGS) reported fourth-quarter 2024 operating earnings per share (EPS) of $1.34, which beat the Zacks Consensus Estimate of $1.33 per share by 0.8%. The figure also came in 5.5% higher than the year-ago quarter’s earnings of $1.27 per share.Find the latest earnings estimates and surprises on Zacks Earnings Calendar.OGS reported 2024 earnings of $3.91 per share compared with $4.14 in 2023, highlighting a year-over-year decrease of 5.6%.OGS’ Revenues ONE Gas recorded revenues of $630.7 million, w ...

Group 1 - ONE Gas reported revenue of $630.7 million for the quarter ended December 2024, a year-over-year increase of 4.1% [1] - The EPS for the same period was $1.34, compared to $1.27 a year ago, indicating a positive growth in earnings [1] - The reported revenue fell short of the Zacks Consensus Estimate of $660.94 million, resulting in a surprise of -4.57% [1] Group 2 - The company delivered an EPS surprise of +0.75%, with the consensus EPS estimate being $1.33 [1] - ONE Gas shares returned +1.1% over the past month, while the Zacks S&P 500 composite increased by +2.4% [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3] Group 3 - Natural gas sales volumes were reported at 57,300 MMcf, below the estimated 58,694.5 MMcf [4] - Total sales volumes delivered were 45,100 MMcf, compared to the estimated 51,719.53 MMcf [4] - The average number of total customers was 2,277, slightly below the estimated 2,281 [4] Group 4 - Revenue from transportation was $37.40 million, compared to the average estimate of $44.73 million [4] - Revenue from natural gas sales was $573.40 million, below the estimated $582.70 million [4]

ONE Gas (OGS) came out with quarterly earnings of $1.34 per share, beating the Zacks Consensus Estimate of $1.33 per share. This compares to earnings of $1.27 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 0.75%. A quarter ago, it was expected that this natural gas distribution would post earnings of $0.41 per share when it actually produced earnings of $0.34, delivering a surprise of -17.07%.Over the last four quarters, the ...

TULSA, Okla. - Feb. 19, 2025 - ONE Gas, Inc. (NYSE: OGS) today announced its fourth quarter and full year 2024 financial results, which include diluted earnings per share of $1.34 and $3.91, respectively. "Our strong financial performance is a testament to our prudent fiscal planning, execution of our regulatory strategy and disciplined management of operations and maintenance expenses," said Robert S. McAnnally, president and chief executive officer. "As we embark on a new year, we are prepared to serve a ...

Analyst call and webcast scheduled tomorrow, Feb. 20 at 11 a.m. ESTTULSA, Okla., Feb. 19, 2025 /PRNewswire/ -- ONE Gas, Inc. (NYSE: OGS) today announced its fourth quarter and full year 2024 financial results, which include diluted earnings per share of $1.34 and $3.91, respectively."Our strong financial performance is a testament to our prudent fiscal planning, execution of our regulatory strategy and disciplined management of operations and maintenance expenses," said Robert S. McAnnally, president and ch ...

Wall Street expects a year-over-year increase in earnings on higher revenues when ONE Gas (OGS) reports results for the quarter ended December 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 earnings report, which is expected to be released on February 19, 2025, might help the stock move higher if these key numbers are better than expe ...

Core Viewpoint - ONE Gas, Inc. has announced its schedule for the release of its fourth quarter and full year 2024 financial results, along with subsequent conference calls and webcasts for 2025 [1][3]. Financial Results Schedule - The fourth quarter and full year 2024 financial results will be released after market close on February 19, 2025 [1]. - The conference call to discuss these results will take place on February 20, 2025, at 11 a.m. Eastern Standard Time [1][2]. Conference Call Details - The conference call will be accessible via phone at 833-470-1428, with a passcode of 455855 [2]. - A webcast of the call will be available on the ONE Gas website [2]. - A replay of the conference call will be available for 30 days on the website and for seven days via phone at 866-813-9403, passcode 180102 [2]. Future Earnings Releases - The schedule for the first quarter 2025 earnings release is set for May 5, 2025, with the conference call on May 6, 2025 [7]. - The second quarter earnings release will occur on August 5, 2025, followed by the conference call on August 6, 2025 [7]. - The third quarter earnings release is scheduled for November 3, 2025, with the conference call on November 4, 2025 [7]. Company Overview - ONE Gas, Inc. is a 100-percent regulated natural gas utility, trading on the NYSE under the symbol "OGS" [4]. - The company serves over 2.3 million customers across Kansas, Oklahoma, and Texas, with divisions including Kansas Gas Service, Oklahoma Natural Gas, and Texas Gas Service [5].

ONE Gas (OGS) announced that its board of directors has increased dividends by 1%. The new quarterly dividend will be 67 cents per share compared with the previous quarter’s 66 cents. The new dividend will be payable on March 7, 2025, to stockholders of record as of Feb. 21, 2025.The company expects an average annual dividend increase of 1-2% through 2029, with a target dividend payout ratio of nearly 55-65% of net income, subject to approval by the board of directors. The increased dividend rate resulted i ...