Exhibit 99.1

logoletterheada99.jpg
October 28, 2019
 
Analyst Contact:
Brandon Lohse
918-947-7472
 
 
Media Contact:
Leah Harper
918-947-7123
ONE Gas Announces Third-quarter 2019 Financial Results

Declares Fourth-quarter Dividend;
Affirms 2019 Financial Guidance

TULSA, Okla. - Oct. 28, 2019 - ONE Gas, Inc. (NYSE: OGS) today announced its third-quarter 2019 financial results, declared its quarterly dividend and affirmed its 2019 financial guidance.

Highlights include:

Third-quarter 2019 net income was $17.5 million, or $0.33 per diluted share, compared with $16.3 million, or $0.31 per diluted share, in the third quarter 2018;
Year-to-date 2019 net income was $135.6 million, or $2.55 per diluted share, compared with $127.5 million, or $2.41 per diluted share, in the same period last year;
The board of directors declared a quarterly dividend of $0.50 per share, or $2.00 per share on an annualized basis, payable on Dec. 2, 2019, to shareholders of record at the close of business on Nov. 12, 2019.

"New rates and residential customer growth supported our quarterly results," said Pierce H. Norton II, president and chief executive officer. "Our focus continues to be on reinvesting in our systems to enhance our ability to provide the safe and reliable natural gas delivery service our 2.2 million customers expect."

THIRD-QUARTER 2019 FINANCIAL PERFORMANCE

ONE Gas reported operating income of $38.8 million in the third quarter 2019, compared with $36.2 million in the third quarter 2018.

Net margin, which is comprised of total revenues less cost of natural gas, increased by $11.9 million compared with third quarter 2018, which primarily reflects:

A $7.3 million increase from new rates;
A $1.9 million increase attributed to net residential customer growth in Oklahoma and Texas; and
A $1.3 million increase due to higher transportation volumes in Kansas.


-more-

The following information was filed by One Gas, Inc. (OGS) on Monday, October 28, 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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