April 30, 2018
Analyst Contact:
Brandon Lohse
Media Contact:
Jennifer Rector

ONE Gas Announces First-quarter 2018 Financial Results

Declares Second-quarter Dividend;
Affirms 2018 Financial Guidance
TULSA, Okla. - April 30, 2018 - ONE Gas, Inc. (NYSE: OGS) today announced financial results for its first quarter 2018; declared its quarterly dividend; and affirmed its 2018 financial guidance.

Highlights include:

First-quarter 2018 net income was $90.8 million, or $1.72 per diluted share, compared with $76.5 million, or $1.44 per diluted share, in the first quarter 2017;
First-quarter results include a $0.05 per diluted share contribution from the share-based compensation accounting standard adopted in the first quarter 2017;
Actual heating degree days across the company's service areas were 5,262 in the first quarter 2018, 1 percent warmer than normal and 31 percent colder than the same period last year; and
The board of directors declared a quarterly dividend of $0.46 cents per share, or $1.84 per share on an annualized basis, payable on June 1, 2018, to shareholders of record at the close of business on May 14, 2018.

"Our first-quarter results reflect our continued emphasis on investing in our natural gas distribution systems, while effectively controlling expenses," said Pierce H. Norton II, president and chief executive officer. "The safety and reliability of natural gas delivery to our more than 2 million customers remains our focus. We also continue to work with our regulators to determine the effect of tax reform and begin returning the benefit to our customers."


ONE Gas reported operating income of $130.3 million in the first quarter 2018, compared with $129.4 million in the first quarter 2017.

Net margin increased by $0.8 million compared with first quarter 2017, which primarily reflects:

A $5.1 million increase from new rates primarily in Texas and Kansas;


The following information was filed by One Gas, Inc. (OGS) on Monday, April 30, 2018 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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