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May 1, 2017
First-quarter 2017 net income was $76.5 million, or $1.44 per diluted share, compared with $64.7 million, or $1.22 per diluted share, in the first quarter 2016;
The adoption of a new share-based payment accounting standard in the first quarter 2017 resulted in a $5.2 million tax benefit, which contributed earnings of 10 cents per diluted share;
Actual heating degree days across the company’s service areas were 4,007 in the first quarter 2017, 24 percent warmer than normal and 12 percent warmer than the same period last year; and
The board of directors declared a quarterly dividend of 42 cents per share, or $1.68 per share on an annualized basis, payable on June 1, 2017, to shareholders of record at the close of business on May 15, 2017.
A $9.8 million increase from new rates in Texas and Kansas;
A $2.7 million increase from the impact of weather-normalization mechanisms, which offset warmer weather in 2017 compared with the same period in 2016;
A $0.8 million increase attributed to net residential customer growth in Oklahoma and Texas; and
A $0.7 million increase due primarily to higher transportation volumes from customers in Kansas.
The following information was filed by One Gas, Inc. (OGS) on Monday, May 1, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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