ONE Gas Inc · Q3 2022 earnings

Briefing

ONE Gas's financial performance remained consistent, demonstrating a focus on execution.

ONE Gas reported a net income of $23.7 million, or $0.44 per diluted share, for the third quarter of 2022, compared to $20.3 million, or $0.38 per diluted share, for the same period in 2021. The company's operating income increased to $47.1 million from $41.8 million in the third quarter of the previous year, driven by new rates and customer growth.

• Net income for Q3 2022 was $23.7 million, or $0.44 per diluted share, compared to $20.3 million, or $0.38 per diluted share, in Q3 2021.
• The company executed forward sale agreements for 570,335 shares of common stock under its at-the-market equity program.
• ONE Gas issued $300 million of 4.25% senior notes due 2032, using the proceeds to repay commercial paper and for general corporate purposes.
• The board of directors declared a quarterly dividend of $0.62 per share, payable on Dec. 1, 2022.

Headline financials

Revenue & EPS history

ONE Gas narrowed its financial guidance issued on Jan. 18, 2022, with 2022 net income and earnings per share now expected to be in the range of $217 million to $226 million, and $4.00 to $4.16 per diluted share. Capital expenditures, including asset removal costs, are expected to be approximately $650 million for 2022.