ONE Gas Q1 2024 Earnings Report
Key Takeaways
ONE Gas reported a net income of $99.3 million, or $1.75 per diluted share, for the first quarter of 2024. The company affirmed its 2024 financial guidance, expecting net income to be in the range of $214 million to $231 million, or $3.70 to $4.00 per diluted share.
First quarter net income was $99.3 million, or $1.75 per diluted share.
Weather across the Company's service areas was 9 percent warmer than normal, but the impact on operating income was mitigated by weather normalization mechanisms.
ONE Gas was awarded the American Gas Association Safety Achievement Award for excellence in employee safety for the seventh consecutive year.
A quarterly dividend of $0.66 per share ($2.64 annualized) was declared, payable on June 4, 2024.
ONE Gas
ONE Gas
ONE Gas Revenue by Segment
Forward Guidance
ONE Gas affirmed the financial guidance it issued on Nov. 29, 2023, with 2024 net income expected to be in the range of $214 million to $231 million, or $3.70 to $4.00 per diluted share. Capital expenditures, including asset removal costs, are expected to be approximately $750 million in 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income