ONE Gas Inc · Q3 2020 earnings

Briefing

ONE Gas's financial performance increased in Q3 2020, driven by new rates and customer growth.

ONE Gas reported a net income of $21.1 million, or $0.39 per diluted share, for the third quarter of 2020, compared to $17.5 million, or $0.33 per diluted share, for the third quarter of 2019. The company updated its 2020 financial guidance, expecting net income and earnings per diluted share to be near the upper end of the ranges.

• Third quarter 2020 net income was $21.1 million, or $0.39 per diluted share, compared with $17.5 million, or $0.33 per diluted share, in the third quarter 2019.
• Year to date 2020 net income was $138.1 million, or $2.59 per diluted share, compared with $135.6 million, or $2.55 per diluted share, in the same period last year.
• The board of directors declared a quarterly dividend of $0.54 per share, or $2.16 per share on an annualized basis.
• New rates and residential customer growth contributed to the third quarter results.

Headline financials

Revenue & EPS history

ONE Gas updated its 2020 financial guidance, with net income and earnings per diluted share now expected to be near the upper end of the ranges of $186 million to $198 million for net income and $3.44 to $3.68 for earnings per share. Capital expenditures, including asset removal costs, are still expected to be in the range of $500 million to $525 million for 2020.