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July 30, 2018
 
Analyst Contact:
Brandon Lohse
918-947-7472
 
 
Media Contact:
Jennifer Rector
918-947-7571

ONE Gas Announces Second-quarter 2018 Financial Results
 
TULSA, Okla. - July 30, 2018 - ONE Gas, Inc. (NYSE: OGS) today announced financial results for its second quarter 2018 and updated 2018 financial guidance.

Highlights include:

Second-quarter 2018 net income was $20.4 million, or $0.39 per diluted share, compared with $20.6 million, or $0.39 per diluted share, in the second quarter 2017;
Year-to-date 2018 net income was $111.3 million, or $2.10 per diluted share, compared with $97.1 million, or $1.83 per diluted share, in the same period last year;
Updated net income guidance range of $167 million to $178 million, or $3.15 to $3.35 per share;
Actual heating degree days across the company's service areas were 858 in the second quarter 2018, 29 percent colder than normal and 54 percent colder than the same period last year;
Actual heating degree days across the company's service areas were 6,120 in the six months ended June 30, 2018, 2 percent colder than normal and 34 percent colder than the same period last year; and
A quarterly dividend of 46 cents per share, or $1.84 per share on an annualized basis, was declared on July 23, 2018, payable on Sept. 4, 2018, to shareholders of record at the close of business on Aug. 13, 2018.

"Colder-than-normal weather and new rates in our service territories positively impacted second-quarter results," said Pierce H. Norton II, president and chief executive officer. "Our employees remain diligent and focused on managing expenses and providing safe and reliable service to our more than 2 million customers."

SECOND-QUARTER 2018 FINANCIAL PERFORMANCE

ONE Gas reported operating income of $41.0 million in the second quarter 2018, compared with $48.4 million in the second quarter 2017.

Net margin increased by $1.2 million compared with second quarter 2017, which primarily reflects:

A $3.8 million increase from new rates in Texas and Kansas;

-more-

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