Exhibit 99.1


logoletterheada95.jpg
April 29, 2019
 
Analyst Contact:
Brandon Lohse
918-947-7472
 
 
Media Contact:
Leah Harper
918-947-7123
ONE Gas Announces First-quarter 2019 Financial Results

Declares Second-quarter Dividend;
Affirms 2019 Financial Guidance

TULSA, Okla. - April 29, 2019 - ONE Gas, Inc. (NYSE: OGS) today announced its first-quarter 2019 financial results; declared its quarterly dividend; and affirmed its 2019 financial guidance.

Highlights include:

First-quarter 2019 net income was $93.7 million, or $1.76 per diluted share, compared with $90.8 million, or $1.72 per diluted share, in the first quarter 2018;
Actual heating degree days across the company's service areas were 5,831 in the first quarter 2019, 10% colder than normal and 11% colder than the same period last year; and
The board of directors declared a quarterly dividend of $0.50 per share, or $2.00 per share on an annualized basis, payable May 31, 2019, to shareholders of record at the close of business on May 15, 2019.

"Our first-quarter results were supported by new rates, colder weather and customer growth," said Pierce H. Norton II, president and chief executive officer. "We continue to focus on successful execution of our capital plan, which includes significant investments in safety and reliability, and on efficient operations."

FIRST-QUARTER 2019 FINANCIAL PERFORMANCE

ONE Gas reported operating income of $127.6 million in the first quarter 2019, compared with $130.3 million in the first quarter 2018.

Net margin, which is comprised of total revenues less cost of natural gas, increased by $7.9 million compared with first quarter 2018, which primarily reflects:

A $3.9 million increase from new rates primarily in Kansas;
A $3.3 million increase due to higher sales volumes, net of weather normalization, in Texas and Kansas; and
A $1.4 million increase attributed to net residential customer growth in Oklahoma and Texas; offset by


-more-

The following information was filed by One Gas, Inc. (OGS) on Monday, April 29, 2019 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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