ONE Gas Inc · Q1 2021 earnings

Briefing

Announced first quarter 2021 financial results and reaffirmed 2021 financial guidance.

ONE Gas reported a net income of $95.6 million, or $1.79 per diluted share, for the first quarter of 2021, compared to $91.7 million, or $1.72 per diluted share, for the same period in 2020. The company reaffirmed its 2021 financial guidance.

• First quarter 2021 net income was $95.6 million, or $1.79 per diluted share, compared with $91.7 million, or $1.72 per diluted share, in the first quarter 2020.
• Actual heating degree days across the company's service areas were 5,600 in the first quarter 2021, 7% colder than normal and 19% colder than the same period last year.
• In March 2021, the company issued $1.7 billion of 2- and 3-year fixed rate senior notes and $800 million of 2-year floating rate senior notes, with proceeds used for general corporate purposes, including payment of gas purchase costs resulting from Winter Storm Uri.
• The board of directors declared a quarterly dividend of $0.58 per share, or $2.32 per share on an annualized basis, payable on June 1, 2021, to shareholders of record at the close of business on May 17, 2021.

Headline financials

Revenue & EPS history

ONE Gas reaffirmed its financial guidance issued on Jan. 19, 2021, with 2021 net income expected to be in the range of $198 million to $210 million, or $3.68 to $3.92 per diluted share. Capital expenditures, including asset removal costs, are expected to be approximately $540 million for 2021.