ONE Gas Q2 Earnings Call Highlights

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Sat, August 8, 2026 astatine 6:03 PM CDT 6 min read

ONE Gas (NYSE:OGS) reported higher second-quarter net and said it present expects full-year adjusted results to autumn wrong the precocious fractional of its antecedently issued 2026 guidance range, supported by caller rates, Texas regulatory benefits, lawsuit maturation and outgo discipline.

Adjusted nett income for the 2nd 4th was $52.1 million, oregon $0.82 per diluted share, compared with $32.7 million, oregon $0.54 per share, a twelvemonth earlier. GAAP net per stock roseate to $0.74 from $0.53. Chief Executive Officer Sid McAnnally said adjusted net per stock grew 16% successful the archetypal fractional from the prior-year play contempt upwind that was 25% warmer.

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McAnnally said the institution maintained mean lawsuit bills level twelvemonth implicit twelvemonth portion expanding its dividend. The committee declared a quarterly dividend of $0.68 per share, unchanged from the anterior quarter.

Guidance Moves Toward Upper Half

The institution maintained its full-year adjusted nett income guidance of $306 cardinal to $314 cardinal and adjusted EPS guidance of $4.83 to $4.95. However, Chief Financial Officer Chris Sighinolfi said ONE Gas present expects adjusted nett income of $310 cardinal to $314 cardinal and adjusted EPS of $4.89 to $4.95.

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Sighinolfi attributed the outlook successful portion to astir $16 cardinal of gross from caller rates during the 4th and greater-than-expected benefits from Texas House Bill 4384. The Texas instrumentality allows state utilities to defer depreciation disbursal and advertisement valorem taxes, portion accruing carrying costs connected eligible superior projects betwixt their in-service dates and inclusion successful lawsuit rates.

ONE Gas present expects House Bill 4384 to lend astir $0.42 to full-year adjusted EPS. Sighinolfi said the payment tin fluctuate quarterly based connected the timing and magnitude of eligible superior placed into service. He said the 2nd 4th mostly represents a larger stock of the yearly payment owed to the cadence of the company's yearly Gas Reliability Infrastructure Program, oregon GRIP, filing.

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The institution besides benefited from capacity-release gross aft lukewarm wintertime upwind reduced state retention withdrawals. ONE Gas ended the archetypal 4th with retention inventory astir 25% supra plan, allowing it to merchandise capableness during the refill season. The institution recognized astir $900,000 of related gross during the 2nd 4th and $2.8 cardinal twelvemonth to date, with an estimated further $1.2 cardinal accidental done the injection season.

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