ONE Gas Announces Second Quarter 2025 Financial Results; Increases 2025 Financial Guidance

Core Insights - ONE Gas, Inc. reported strong operational performance in the second quarter of 2025, leading to increased financial guidance for the year [2][15] - The company declared a quarterly dividend of $0.67 per share, reflecting a commitment to returning value to shareholders [6][15] Financial Performance - For Q2 2025, ONE Gas reported operating income of $71.9 million, up from $69.3 million in Q2 2024, driven by regulatory mechanisms that mitigated the impact of weather [3][38] - Net income for Q2 2025 was $32.0 million, or $0.53 per diluted share, compared to $27.2 million, or $0.48 per diluted share, in Q2 2024 [6][38] - Year-to-date net income for 2025 reached $151.5 million, or $2.51 per diluted share, compared to $126.6 million, or $2.23 per diluted share, in the same period last year [6][38] Capital Expenditures - Capital expenditures and asset removal costs for Q2 2025 were $190.1 million, slightly lower than $194.6 million in the same period last year [5][38] - Year-to-date capital expenditures totaled $367.8 million, compared to $374.0 million in the first half of 2024 [9][38] Regulatory Activities - Texas Gas Service filed a rate case in June 2025, requesting a $41.1 million revenue increase, with new rates expected to take effect in Q1 2026 [10] - Oklahoma Natural Gas reached a settlement for a $41.1 million base rate revenue increase, effective from June 2025 [12][14] Financial Guidance - The company raised its 2025 financial guidance, expecting net income in the range of $261 million to $267 million, up from the previous range of $254 million to $261 million [15] - Earnings per diluted share guidance was increased to approximately $4.32 to $4.42, from a prior range of $4.20 to $4.32 [15] Customer Metrics - ONE Gas serves over 2.3 million customers across Kansas, Oklahoma, and Texas, with a slight increase in customer numbers compared to the previous year [19][38] - The average number of residential customers was 2,124 thousand in Q2 2025, compared to 2,106 thousand in Q2 2024 [38]