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October 29, 2018
 
Analyst Contact:
Brandon Lohse
918-947-7472
 
 
Media Contact:
Jennifer Rector
918-947-7571

ONE Gas Announces Third-quarter 2018 Financial Results

Declares Fourth-quarter Dividend;
Affirms 2018 Financial Guidance
 
TULSA, Okla. - October 29, 2018 - ONE Gas, Inc. (NYSE: OGS) today announced financial results for its third quarter 2018, declared its quarterly dividend and affirmed its 2018 financial guidance.

Highlights include:

Third-quarter 2018 net income was $16.3 million, or $0.31 per diluted share, compared with $18.8 million, or $0.36 per diluted share, in the third quarter 2017;
Year-to-date 2018 net income was $127.5 million, or $2.41 per diluted share, compared with $115.9 million, or $2.19 per diluted share, in 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 Dec. 3, 2018, to shareholders of record at the close of business on Nov. 13, 2018.

"We continue to execute our strategy of investing in our natural gas distribution systems targeted toward safety, integrity and reliability,” said Pierce H. Norton II, president and chief executive officer. “Our solid third quarter is reflective of these investments."

THIRD-QUARTER 2018 FINANCIAL PERFORMANCE

ONE Gas reported operating income of $36.2 million in the third quarter 2018, compared with $45.1 million in the third quarter 2017.

Net margin decreased $1.3 million compared with third quarter 2017, which primarily reflects:

A $6.0 million decrease related to the deferral of potential refund obligations associated with the Tax Cuts and Jobs Act of 2017 and related rate adjustments; offset by
A $3.8 million increase from new rates in Texas and Kansas; and
A $1.0 million increase attributed to net residential customer growth in Oklahoma and Texas.

-more-

The following information was filed by One Gas, Inc. (OGS) on Monday, October 29, 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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