ONE Gas(US:OGS) Prnewswire·2025-05-05 20:15Core Insights - ONE Gas, Inc. reported strong financial results for the first quarter of 2025, with expectations to achieve the upper half of its previously announced financial guidance for the year [1][10] - The company declared a quarterly dividend of $0.67 per share, reflecting a commitment to returning value to shareholders [9] Financial Performance - Operating income for Q1 2025 was $180.5 million, up from $145.9 million in Q1 2024, driven by effective regulatory strategies and disciplined expense management [3][30] - Net income for the first quarter was $119.4 million, or $1.98 per diluted share, compared to $99.3 million, or $1.75 per diluted share, in the same period last year [9][20] - Total revenues increased to $935.2 million in Q1 2025 from $758.3 million in Q1 2024, with natural gas sales contributing significantly to this growth [30] Capital Expenditures and Investments - Capital expenditures and asset removal costs for Q1 2025 were $177.7 million, slightly down from $179.4 million in the same period last year, focusing on system integrity and service extension [4][30] - The company anticipates total capital investments of approximately $750 million for 2025, primarily for system integrity and replacement projects [10] Regulatory Activities - Kansas Gas Service submitted a request for a $7.2 million increase related to its Gas System Reliability Surcharge, with a decision expected by August 2025 [5] - Oklahoma Natural Gas filed for a $41.5 million base rate revenue increase, with a hearing scheduled for June 12, 2025 [6] Customer Metrics - The average number of customers increased to 2.305 million in Q1 2025, up from 2.290 million in Q1 2024, indicating growth in customer base across service areas [30][31] - The company experienced colder weather conditions, with actual degree days being 5% colder than normal, which positively impacted natural gas demand [9][31]