ONE Gas, Inc. Q4 2025 Earnings Call Summary

Management emphasized a disciplined capital plan focused on high-growth regions, adding approximately 23,000 new residential customers annually to maintain affordability through cost-spreading.Operational efficiency was driven by an aggressive in-sourcing program, which reduced excavation damages by 14% despite an 8% increase in locate request volumes.Texas House Bill 4384 significantly expanded the scope of capital expenditures eligible for depreciation deferral and carrying cost accruals, creating a struc ...