Exhibit 99.1

logoletterheada99.jpg
April 27, 2020
 
Analyst Contact:
Brandon Lohse
918-947-7472
 
 
Media Contact:
Leah Harper
918-947-7123
ONE Gas Announces First Quarter 2020 Financial Results

Declares Second Quarter Dividend;
Affirms 2020 Financial Guidance

TULSA, Okla. - April 27, 2020 - ONE Gas, Inc. (NYSE: OGS) today announced its first quarter 2020 financial results, declared its quarterly dividend and affirmed its 2020 financial guidance.

ONE Gas is providing essential services during the COVID-19 pandemic. Following the guidance of the Centers for Disease Control and Prevention, Occupational Safety and Health Administration and third-party subject matter experts engaged by the company, a comprehensive set of policies, procedures and guidelines have been implemented to protect the safety of the company's employees, customers and communities as natural gas service continues to be provided to customers. ONE Gas continues to closely monitor developments related to the pandemic and will adjust its actions and operations as appropriate. Additional information regarding the impact of the pandemic to ONE Gas will be provided by management on the earnings conference call and in the investor presentation available on its website. Details for the conference call and webcast and a link to the investor presentation are provided later in this release. In addition, the company anticipates filing its Quarterly Report on Form 10-Q on April 28, 2020.
        
FIRST QUARTER 2020 KEY PERFORMANCE DRIVERS AND HIGHLIGHTS

First quarter 2020 net income was $91.7 million, or $1.72 per diluted share, compared with $93.7 million, or $1.76 per diluted share, in the first quarter 2019;
Actual heating degree days across the company's service areas were 4,714 in the first quarter 2020, 10% warmer than normal and 19% warmer than the same period last year;
Delivered natural gas sales volumes for the first quarter 2020 were 16% lower compared with the first quarter 2019, primarily as a result of the warmer weather;
The company ended the quarter with $474.7 million of commercial paper and $1.2 million in letters of credit outstanding, leaving $224.1 million available in its commercial paper program;
In February 2020, the company initiated an at-the-market equity program with an aggregate offering price up to $250 million. As of March 31, 2020, no shares have been issued or sold under the program;


-more-

The following information was filed by One Gas, Inc. (OGS) on Monday, April 27, 2020 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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