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ONE Gas, Inc. (NYSE: OGS) is a publicly traded, fully regulated natural gas utility company that operates in the states of Oklahoma, Kansas, and Texas. Headquartered in Tulsa, Oklahoma, the company provides natural gas distribution services to more than 2.3 million residential, commercial, industrial, and transportation customers. This makes ONE Gas one of the largest natural gas utilities in the United States.
Core Operations: ONE Gas primarily focuses on the distribution and sale of natural gas through an extensive network of pipelines and service lines. The company operates under three main divisions: Kansas Gas Service, the largest natural gas distributor in Kansas; Oklahoma Natural Gas, the largest in Oklahoma; and Texas Gas Service, the third largest in Texas in terms of customers.
Financial Highlights: For the third quarter of 2023, ONE Gas reported operating income of $57.2 million, an increase from $47.1 million in the third quarter of 2022. The net income increase was primarily driven by higher sales volumes and improved operational efficiency. The company also narrowed its 2023 earnings guidance, expecting net income between $227 million to $236 million.
Recent Achievements: In September 2023, ONE Gas successfully priced its public offering of 1,200,000 shares, with an option for the underwriter to purchase an additional 180,000 shares. This offering is expected to generate gross proceeds of approximately $88.8 million. The company entered into a forward sale agreement with Bank of America, N.A., as the forward purchaser.
Projects and Investments: ONE Gas continues to invest in infrastructure to ensure system integrity and expand its service areas. In 2023, capital expenditures and asset removal costs amounted to $728.7 million. The company is also involved in regulatory activities, such as the renewable natural gas (RNG) Pilot Program in Oklahoma, which was approved in November 2023, and various rate filings across its service areas.
Partnerships and Market Position: ONE Gas holds significant market shares in Oklahoma and Kansas, making it a key player in the regional energy market. The company is also included in the S&P MidCap 400 Index, reflecting its stable financial performance and market presence.
Future Outlook: Looking ahead to 2024, ONE Gas expects net income to be in the range of $214 million to $231 million. The company plans to continue its focus on system reinforcements and expanding its capabilities to meet growing customer demand, with capital investments projected at approximately $750 million.
For more detailed and updated information, please visit their official website and follow their social media channels: @ONEGas on Facebook, LinkedIn, and YouTube.
ONE Gas updated its financial guidance for 2023, expecting net income between $224 million and $238 million, with earnings per share of $4.02 to $4.26. Capital investments are projected at $675 million, focusing on system integrity and customer expansions in Texas and Oklahoma. For the five years ending 2027, net income is anticipated to grow by 7% to 9% annually. The company also expects to settle forward equity sales by year-end 2022, raising approximately $94 million in net proceeds.
ONE Gas, Inc. (NYSE: OGS) reported a third quarter 2022 net income of $23.7 million, up from $20.3 million year-over-year. The company narrowed its 2022 financial guidance, expecting net income between $217 million and $226 million. A quarterly dividend of $0.62 per share was declared, payable December 1, 2022. Operating income also increased to $47.1 million, attributed to new rates and customer growth. However, capital expenditures rose to $174.9 million, reflecting investments in service expansion and system integrity.
ONE Gas, Inc. (NYSE: OGS) will announce its third quarter 2022 earnings after market close on October 31, 2022. The executive management team will hold a conference call on November 1, 2022, at 11 a.m. Eastern Time. Investors can access the call via the ONE Gas website, with options for phone participation and a subsequent 30-day replay available online. ONE Gas operates as a regulated natural gas utility, serving over 2.3 million customers across Kansas, Oklahoma, and Texas.
ONE Gas, Inc. (NYSE: OGS) reported a net income of $32.1 million, or $0.59 per diluted share for Q2 2022, up from $30.1 million and $0.56 per diluted share in Q2 2021. Year-to-date, net income reached $131 million, or $2.42 per share, compared to $125.7 million and $2.35 per share last year. Capital expenditures increased to $149.1 million for the quarter. The company reaffirmed its 2022 guidance, expecting net income between $215 million to $227 million and EPS of $3.96 to $4.20. A quarterly dividend of $0.62 per share was declared.
ONE Gas, Inc. (NYSE: OGS) has declared a quarterly dividend of 62 cents per share, payable on Sept. 1, 2022, to shareholders of record as of Aug. 15, 2022. This dividend is part of a projected annual dividend growth of 6% to 8% through 2026, aiming for a payout ratio of 55% to 65% of net income, pending board approval. Operating as a 100% regulated natural gas utility, ONE Gas serves over 2.3 million customers across Kansas, Oklahoma, and Texas, showcasing its position as a leading utility provider.
ONE Gas, Inc. (NYSE: OGS) will announce its second quarter 2022 earnings on August 1, 2022, after market close. The executive management team will host a conference call the next day, August 2, 2022, at 11 a.m. EDT, accessible via the ONE Gas website. A replay will be available on the website for 30 days, with a phone playback option for seven days.
ONE Gas serves over 2.3 million customers across Kansas, Oklahoma, and Texas, and is a regulated natural gas utility listed in the S&P MidCap 400 Index.
ONE Gas, Inc. (NYSE: OGS) reported a net income of $98.9 million, or $1.83 per diluted share, for Q1 2022, an increase from $95.6 million, or $1.79 per share in Q1 2021. The company affirmed its 2022 financial guidance with net income expected between $215 million and $227 million, and earnings per share between $3.96 and $4.20. A quarterly dividend of $0.62 per share was declared, payable June 1, 2022. Capital expenditures increased to $122.9 million, reflecting growth initiatives and system integrity efforts.
ONE Gas, Inc. (NYSE: OGS) will participate in the American Gas Association Financial Forum on May 17-18, 2022, in Miami Beach, Florida. Key executives, including CEO Robert S. McAnnally, CFO Caron Lawhorn, and COO Curtis Dinan, will meet with investors during this event. Conference materials will be available on the ONE Gas website on May 16, 2022, after market close. As a regulated natural gas utility, ONE Gas serves over 2.2 million customers in Kansas, Oklahoma, and Texas.
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