ONE Gas, Inc. Provides Earnings Guidance for 2020 and Revises 2019 Guidance
January 21, 2020 at 09:20 pm
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ONE Gas, Inc. announced that its 2020 net income is expected to be in the range of $186 million to $198 million, or $3.44 to $3.68 per diluted share. The midpoint of 2020 net income guidance for the company is $192 million, or $3.56 per diluted share. Operating income expected $307 million and total revenues expected $1,567 million. The company's 2020 earnings guidance includes the benefit of new rates, offset by higher depreciation expense from capital investments and assumes normal weather.
The company also revised its 2019 guidance to earnings of $3.49 to $3.53 per diluted share from the previous range of $3.39 to $3.57 per diluted share. For 2019, the company's preliminary estimate is that the net income impact of colder weather on sales volumes, net of weather normalization mechanisms, was an increase of $4.9 million.
ONE Gas, Inc. is a regulated natural gas distribution utility in the United States. The Company operates through a single segment, regulated public utilities, which delivers natural gas to residential, commercial and transportation customers. The Company provides natural gas distribution services to approximately 2.3 million customers. The Company has three divisions: Oklahoma Natural Gas, Kansas Gas Service and Texas Gas Service. It primarily serves residential, commercial and transportation customers in all three states. The Companyâs natural gas distribution markets in terms of customers are Oklahoma City and Tulsa, Oklahoma; Kansas City, Wichita and Topeka, Kansas; and Austin and El Paso, Texas. It distributes natural gas to approximately 89%, 71% and 13% of the natural gas distribution customers in Oklahoma, Kansas and Texas, respectively.
ONE GAS, INC. 
