ONE Gas(US:OGS)2025-11-03 21:19Financial Performance - Third quarter 2025 net income was $26.5 million, or $0.44 per diluted share, compared to $19.3 million, or $0.34 per diluted share, in Q3 2024[2] - Year-to-date 2025 net income reached $177.9 million, or $2.94 per diluted share, up from $145.8 million, or $2.56 per diluted share, in the same period last year[2] - Operating income for Q3 2025 was $65.4 million, an increase from $59.5 million in Q3 2024[3] - Total revenues for the three months ended September 30, 2025, were $379.1 million, an increase of 11.3% from $340.4 million in the same period last year[27] - Net income for the nine months ended September 30, 2025, was $177.9 million, up 22.0% from $145.8 million in the prior year[27] - Operating income for the three months ended September 30, 2025, was $65.4 million, compared to $59.4 million for the same period in 2024, reflecting a 10.3% increase[27] - Earnings per share for the nine months ended September 30, 2025, were $2.96, up from $2.57 in the same period last year, representing a 15.1% increase[27] - Operating income for the nine months ended September 30, 2025, was $317.7 million, compared to $274.6 million for the same period in 2024, reflecting a 15.7% increase[42] - Net income for Q3 2025 was $26.5 million, up 37.3% from $19.3 million in Q3 2024[42] Capital Expenditures - Capital expenditures for Q3 2025 were $207.6 million, compared to $197.7 million in the same period last year[4] - Year-to-date capital expenditures were $575.4 million, slightly up from $571.7 million in the same period last year[8] - The company expects total capital expenditures, including asset removal costs, to be approximately $750 million in 2025[15] - Capital expenditures for the nine months ended September 30, 2025, were $539.4 million, compared to $523.6 million in the same period last year, reflecting a 3.0% increase[33] Revenue and Sales - The company reported an increase of $92.2 million from new rates year-to-date 2025[6] - Natural gas sales for Q3 2025 were $327.3 million, a 12.9% increase from $289.8 million in Q3 2024[42] - Total revenues for Q3 2025 reached $379.1 million, a 11.5% increase from $340.4 million in Q3 2024[42] Guidance and Dividends - The company narrowed its 2025 diluted earnings per share guidance to a range of $4.34 to $4.40, from a previous range of $4.32 to $4.42[2] - The company anticipates net income for 2025 to be in the range of $262 million to $266 million, compared to the previous range of $261 million to $267 million[14] - The board declared a quarterly dividend of $0.67 per share, payable on December 1, 2025[2] - The company declared a fourth quarter dividend of $0.67 per share, up from $0.66 per share in the previous year[27] - The company narrowed its 2025 financial guidance, indicating a focus on maintaining operational efficiency and cost management[34] - The company narrowed its 2025 financial guidance, indicating a more focused outlook for the remainder of the year[40] Assets and Cash Flow - Total assets as of September 30, 2025, were $8.5 billion, compared to $8.4 billion as of December 31, 2024, indicating a growth of 1.0%[31] - Cash provided by operating activities for the nine months ended September 30, 2025, was $535.8 million, an increase of 75.0% from $305.8 million in the prior year[33] - Total assets decreased to $257.6 million as of September 30, 2025, down from $291.2 million a year earlier, representing an 11.5% decline[39] Customer Metrics and Operational Efficiency - The average number of residential customers increased to 2,109,000 in Q3 2025, compared to 2,096,000 in Q3 2024[42] - Operating expenses for Q3 2025 were $110,000, marginally lower than $111,000 in Q3 2024[40] - The company reported a significant increase in heating degree days, with actual degree days at 14 compared to 8 in Q3 2024, indicating colder weather conditions[42]