ONE Gas Reports Stable 2024 Financial Performance

ONE Gas Inc ( (OGS) ) has released its Q4 earnings. Here is a breakdown of the information ONE Gas Inc presented to its investors.

ONE Gas, Inc., a regulated natural gas utility company, is a leading provider of natural gas services across Kansas, Oklahoma, and Texas, serving over 2.3 million customers. The company is a significant player in the energy sector, included in the S&P MidCap 400 Index, and operates through its divisions: Kansas Gas Service, Oklahoma Natural Gas, and Texas Gas Service.

ONE Gas recently released its financial results for the fourth quarter and full year of 2024, showing a stable yet slightly reduced annual net income compared to the previous year. The company’s performance highlights include a quarterly net income of $77 million and an annual net income of $222.9 million. Despite a warmer-than-usual winter, which typically affects natural gas sales, ONE Gas managed to maintain steady earnings per share, thanks to strategic fiscal planning and operational management.

In the fourth quarter, ONE Gas reported an increase in operating income to $124.3 million, driven by new rates and customer growth in Oklahoma and Texas. The company also saw an increase in revenues from gas sales, despite facing higher employee-related costs and taxes. For the full year, operating income rose to $399 million, bolstered by residential sales growth and strategic capital investments aimed at enhancing system integrity.

Looking ahead, ONE Gas projects its 2025 net income to be between $254 million and $261 million, with expectations of continuing its capital investments focusing on system integrity and expansion projects. The company remains committed to delivering reliable energy services while managing its financial and operational strategies to accommodate a growing customer base.