Exhibit 99.1


logoletterheada99.jpg
July 29, 2019
 
Analyst Contact:
Brandon Lohse
918-947-7472
 
 
Media Contact:
Leah Harper
918-947-7123
ONE Gas Announces Second-quarter 2019 Financial Results;
Updates 2019 Financial Guidance

TULSA, Okla. - July 29, 2019 - ONE Gas, Inc. (NYSE: OGS) today announced its second-quarter 2019 financial results and updated its 2019 financial guidance.

Highlights include:

Second-quarter 2019 net income was $24.5 million, or $0.46 per diluted share, compared with $20.4 million, or $0.39 per diluted share, in the second quarter 2018;
Year-to-date 2019 net income was $118.1 million, or $2.22 per diluted share, compared with $111.3 million, or $2.10 per diluted share, in the same period last year;
Updated 2019 net income guidance to the range of $180 million to $190 million, compared with the previous guidance range of $174 million to $190 million;
Actual heating degree days across the company's service areas were 581 in the second quarter 2019, 9% warmer than normal and 32% warmer than the same period last year; and
A quarterly dividend of $0.50 per share, or $2.00 per share on an annualized basis, was declared on July 22, 2019, payable Sept. 3, 2019, to shareholders of record at the close of business on Aug. 12, 2019.

"In the second quarter, we continued to see the positive impact of new rates on our net margin as a result of capital expenditures on system integrity and expansion, somewhat offset by overall warmer weather,” said Pierce H. Norton II, president and chief executive officer. "In addition, operating costs were slightly lower than the same period last year, as we maintain our focus on managing expenses while safely and reliably serving our customers."

SECOND-QUARTER 2019 FINANCIAL PERFORMANCE

ONE Gas reported operating income of $46.9 million in the second quarter 2019, compared with $41.0 million in the second quarter 2018.

Net margin, which is comprised of total revenues less cost of natural gas, increased by $9.6 million compared with second quarter 2018, which primarily reflects:

A $10.4 million increase from new rates; and
A $1.5 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, July 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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