ONE Gas Inc
NYSE:OGS
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ONE Gas Inc
On a typical day, the operations of ONE Gas Inc. mirror the intricacies of a well-choreographed symphony. Operating predominantly in Kansas, Oklahoma, and Texas, the company stands as a vital player in the distribution of natural gas. It serves as a reliable conduit between the chaos of natural energy and orderly household comfort. ONE Gas takes natural gas from suppliers and efficiently distributes it through an extensive network of pipelines to its extensive customer base, comprising mainly residential and commercial users. This careful orchestration ensures homes stay warm during the winter chill and businesses can operate without interruption year-round.
Revenue flows into ONE Gas not just from the sheer volume of gas distributed but also through regulated utility rates. The company works under the watchful eyes of regulatory bodies to set rates that ensure both reliability for consumers and profitability for stakeholders. ONE Gas's emphasis on safety and operational excellence solidifies its position in a largely recession-proof industry. With a staunch commitment to infrastructure maintenance and digital enhancements, ONE Gas continually innovates to meet rising expectations for energy efficiency, environmental responsibility, and customer service. This balance creates a resilient business model primed for steady, incremental growth in the face of fluctuating market conditions.
On a typical day, the operations of ONE Gas Inc. mirror the intricacies of a well-choreographed symphony. Operating predominantly in Kansas, Oklahoma, and Texas, the company stands as a vital player in the distribution of natural gas. It serves as a reliable conduit between the chaos of natural energy and orderly household comfort. ONE Gas takes natural gas from suppliers and efficiently distributes it through an extensive network of pipelines to its extensive customer base, comprising mainly residential and commercial users. This careful orchestration ensures homes stay warm during the winter chill and businesses can operate without interruption year-round.
Revenue flows into ONE Gas not just from the sheer volume of gas distributed but also through regulated utility rates. The company works under the watchful eyes of regulatory bodies to set rates that ensure both reliability for consumers and profitability for stakeholders. ONE Gas's emphasis on safety and operational excellence solidifies its position in a largely recession-proof industry. With a staunch commitment to infrastructure maintenance and digital enhancements, ONE Gas continually innovates to meet rising expectations for energy efficiency, environmental responsibility, and customer service. This balance creates a resilient business model primed for steady, incremental growth in the face of fluctuating market conditions.
Guidance Tightened: ONE Gas raised and narrowed its 2025 earnings per share guidance to $4.34–$4.40, citing strong year-to-date performance and legislative tailwinds.
Strong Q3 Results: Net income for the third quarter rose to $26.5 million ($0.44 per share), up from $19.3 million ($0.34 per share) a year ago.
Capital Investments: The company completed the Austin System Reinforcement project ahead of schedule and under budget, contributing to a total of $575 million in capital projects through Q3 and remains on track for $750 million in full-year capital spending.
Regulatory Progress: All 2025 interim filings were completed, including a $3.2 million GRIP filing, and a major Texas rate case remains on track for a 2026 decision.
Growth Outlook: Management described the higher growth profile as structural, with expectations to perform above the high end of its 4%–6% EPS growth range for the next five years.
Operational Efficiency: Insourcing initiatives, such as line locating and Watch and Protect, have reduced damages and are expected to yield long-term savings despite short-term cost increases.
Enhanced Liquidity: ONE Gas increased its revolving credit facility to $1.5 billion, now maturing in 2030.
Dividend Maintained: The board declared a quarterly dividend of $0.67 per share, unchanged from the prior quarter.
