What is the revenue and EPS growth rate for One Gas year over year?

What is One Gas's latest dividend and current dividend yield?

What factors drove the changes in One Gas's revenue and profit?

What were the key takeaways from One Gas’s earnings call?

What guidance did One Gas's management provide for the next earnings period?

Did One Gas beat or miss consensus estimates last quarter?

What is One Gas's gross profit margin?

What were the key takeaways from One Gas's earnings call?

- **EPS Beat**: Narrowed 2025 guidance to $4.34-$4.40, up 12% YoY
- **Project Success**: Austin System Reinforcement completed 3 months early, under budget
- **Cost Control**: 13% reduction in excavation damages through in-sourcing
- **Growth Pipeline**: 1.5 GW of utility-scale projects in development
- **Regulatory Tailwind**: Texas HB 4384 provides $4-5M annual benefit

**CEO Summary Section**
- ONE Gas reported third-quarter net income of $26.5 million, up 38% year-over-year, driven by new rates and customer growth. 
- The Austin System Reinforcement project was completed ahead of schedule and under budget, boosting winter peak capacity by 25%.
- 2025 EPS guidance narrowed to $4.34-$4.40, reflecting strong operational execution.

**CFO Financial Commentary**
- 2025 capital expenditures of $750 million are on track, with $575 million spent year-to-date.
- Interest expense decreased $3.4 million YoY due to lower rates on commercial paper.
- Balance sheet remains strong with 19% CFO to debt ratio, and $1.5 billion revolving credit facility extended to 2030.

**COO Operations Update**
- Line locating in-sourcing reduced excavation damages 13% YoY despite 8% higher ticket volume.
- 1.5 GW of utility-scale generation projects in advanced stages of customer decision-making.
- New RNG supply agreements provide cost savings passed through to customers.

**Q&A Highlights**
- 4-6% long-term EPS growth rate is structural, supported by regulatory tailwinds.
- Texas HB 4384 provides $4-5 million annual operating income benefit.
- 2026 capital spending may accelerate to support large-scale projects.

ONE Gas, Inc. (OGS) Q3 2025 Earnings Call Transcript

- **Revenue Growth**: Q2 net income up 18% YoY to $32M, driven by rate increases and 11,400 new meters. Full-year guidance raised 2.5% to $261-267M net income.
- **Texas Regulatory Win**: House Bill 4384 adds $4-5M annual earnings, with first-year impact of $2M. 2025 capex fully funded via $226M forward equity sales.
- **Customer Momentum**: 9% YoY growth in new meters, strongest in Austin (+7% migration), Oklahoma City, and El Paso. Data centers and manufacturing driving demand.
- **Operational Resilience**: Withstood record rainfall with no outages. Austin system reinforcement project 43,000+ ft pipe installed, on track for Q4 2025 in-service.

**【CEO Summary Section】**
- **Q2 2025 Performance**: Net income of $32 million ($0.53 EPS), driven by new rates and customer growth. Full-year guidance raised to $261-267 million net income ($4.32-4.42 EPS), reflecting Texas House Bill 4384 benefits.
- **Regulatory Progress**: $41.1 million rate increase approved in Oklahoma; Texas rate case filed for $41.1 million increase, targeting 10.4% ROE and 59.9% equity ratio.
- **Capital Position**: $226 million in forward equity sales secured, meeting 2025 needs and partially covering 2026 requirements.

**【CFO Financial Commentary】**
- **Q2 Financials**: Revenues up $22.6 million (new rates +11,400 new meters). O&M expenses +7.5% YoY due to labor costs. Interest expense down $1.3 million QoQ, first decline since 2021.
- **Equity Management**: 2.9 million shares sold forward at $78.5 net, supporting $750M 2025 capex. Dividend unchanged at $0.67.
- **Texas Bill Impact**: Extends deferral of $300M+ CapEx costs, adding $4-5M annual pretax earnings starting Q3 2025.

**【COO Operational Update】**
- **Capital Execution**: $190M spent Q2, on track for Austin system reinforcement (43,000+ ft pipe installed). 2025 capex guidance maintained at $750M.
- **Customer Growth**: 11,400 new meters H1 (+9% YoY), strongest in Austin, Oklahoma City, and El Paso. Data centers, manufacturing, and utility-scale generation driving demand.
- **Weather Resilience**: Record rainfall in OK, KS, and TX caused no outages. Floods in Central TX did not impact service areas.

**【Q&A Key Highlights】**
- **Texas Bill 4384**: Adds $4-5M annual earnings, fully phased in by 2026. 2025 impact reflects half-year benefit. No change to capital allocation strategy.
- **Long-Term Growth**: 2025 guidance midpoint will set 2026-2030 CAGR. Texas remains fastest-growing jurisdiction, with 7%+ migration rates in key cities.
- **Project Pipeline**: Austin system reinforcement on track for Q4 2025 in-service. Evaluating data center, manufacturing, and utility-scale projects with system resiliency benefits.
- **Regulatory Efficiency**: Consolidating 18 Texas service areas into one jurisdiction to reduce administrative costs and equalize rates across the state.

ONE Gas (OGS)-6 Aug 25-2025 Q2 Earnings call transcript

- **Record Q1 Results**: $119M net income (+20% YoY) fueled by rate hikes and 8,000 new meters.
- **O&M Efficiency**: 2% YoY growth vs. 4% target, with 51% emissions reduction.
- **Safety & Reliability**: 8th straight safety award, no outages during 5 winter storms.
- **Guidance Uptick**: Full-year net income raised to upper half of $254-261M range.
- **Growth Catalysts**: $57M rate filings, Austin system expansion, and renewable natural gas projects.

**【CEO Summary Section】**
- Q1 2025 net income of $119 million ($1.98 per diluted share), up 20% YoY, driven by new rate implementations and customer growth.
- O&M expenses grew 2% YoY, below 4% CAGR target, reflecting in-sourcing initiatives and cost control.
- System reliability demonstrated during 5 winter storms with no significant outages.
- 8-year streak of safety awards for lowest significant injury rate among peers.

**【CFO Financial Commentary】**
- Q1 revenue increased $54 million from new rates and customer growth, offsetting $3 million decline in other income.
- Interest expense rose $4.7 million due to maturing low-coupon bonds and higher commercial paper balances.
- Raised full-year guidance to upper half of $254-261 million net income range.
- Forward share sales expected to generate $30 million in proceeds.

**【COO Operational Update】**
- Filed $57.1 million in regulatory rate adjustments across Texas and Kansas.
- Completed $178 million in capital projects, including Austin System Reinforcement progress.
- Achieved 51% reduction in leak-related emissions, on track for 55% 2035 target.
- Installed 8,000 new meters YTD, focusing on Texas and Oklahoma metro areas.

**【Q&A Key Takeaways】**
- O&M efficiency gains expected to continue, but 60% labor cost exposure limits downside.
- Texas HB 4384 could accelerate returns on gas infrastructure investments.
- Tariff impacts mitigated through direct supplier relationships and front-loaded in-sourcing costs.
- Weather-driven working capital needs peaked in Q1, normalizing in Q2.
- Full-year O&M growth expected to stay within 4% CAGR target.

ONE Gas (OGS)-6 May 25-2025 Q1 Earnings call transcript

- **Record Financial Performance**: 2024 EPS of $3.91 met 11th consecutive year of guidance midpoint achievement, driven by strong cost control and regulatory execution.
- **Customer Growth Momentum**: 23,000 new meters added in 2024, with strategic investments in system modernization reducing emissions by 50% since 2005.
- **Strategic Infrastructure Expansion**: $762 million in capital investments, including the Austin project to increase capacity by 25% and access cheaper gas supplies.
- **Resilient Operations**: No significant service disruptions during extreme winter weather, showcasing system reliability and storage optimization.

**【Management Opening Remarks】**
- CEO Sid McAnnally highlighted 2024 as a successful year with EPS of $3.91, meeting the midpoint of guidance for the 11th consecutive year. The company completed infrastructure modernization projects, including cast iron and bare steel service line replacements, reducing leak-related emissions by over 50% since 2005.
- Customer growth remained strong, with 23,000 new meters added across Kansas, Oklahoma, and Texas, driven by housing demand and economic development. ONE Gas is exploring opportunities to supply natural gas for power generation, including data centers and industrial applications.

**【CFO Financial Commentary】**
- Q4 2024 GAAP net income was $77 million ($1.34 per diluted share), up 8.5% year-over-year. Full-year EPS of $3.91 exceeded revised guidance. O&M expenses increased 4% annually but were well-managed, with a 2.4% Q4 YoY increase.
- The company settled 3.16 million shares under an ATM program, reducing commercial paper by $246 million. Balance sheet strength was reaffirmed with A- (S&P) and A3 (Moody's) credit ratings. 2025 guidance includes net income of $254 million-$261 million and capital expenditures of $750 million.

**【COO Operational Update】**
- Curtis Dinan reported $762 million in 2024 capital investments, including $180 million for customer growth. The Austin system reinforcement project, expected to come online in Q4 2025, will increase peak capacity by 25% and leverage cheaper Waha Hub gas prices.
- Despite extreme winter weather, the system performed well, with no significant disruptions. Storage capacity was optimized to mitigate price fluctuations.

**【Q&A Highlights】**
- **Data Center Opportunities**: Timelines vary but can align with capital plans, especially for projects leveraging existing infrastructure. ONE Gas is prioritizing selective, multi-objective investments.
- **Commercial Paper Balance**: Elevated levels in Q4 due to warmer-than-expected weather were resolved in Q1 with colder-than-normal conditions, aligning with cash flow plans.
- **O&M Guidance**: 2025 O&M expense growth remains at 4%, consistent with long-term planning assumptions.

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