ONE Gas Q2 2023 Earnings Report
Key Takeaways
ONE Gas reported a net income of $32.7 million, or $0.58 per diluted share, for the second quarter of 2023, compared to $32.1 million, or $0.59 per diluted share, for the same period in 2022. Operating income increased to $64.0 million from $58.6 million, driven by new rates and residential sales growth, offset by increased employee-related costs and lower sales volumes.
Net income increased to $32.7 million, or $0.58 per diluted share, compared to $32.1 million, or $0.59 per diluted share in Q2 2022.
Year-to-date net income increased to $135.3 million, or $2.42 per diluted share, compared to $131.0 million, or $2.42 per diluted share in the same period last year.
Operating income rose to $64.0 million, compared to $58.6 million in Q2 2022, driven by new rates and residential sales growth.
The company reaffirmed its 2023 financial guidance, expecting net income between $224 million and $238 million, or $4.02 to $4.26 per diluted share.
ONE Gas
ONE Gas
ONE Gas Revenue by Segment
Forward Guidance
ONE Gas reaffirmed its financial guidance issued on Nov. 30, 2022, with 2023 net income and earnings per share expected to be in the range of $224 million to $238 million, and $4.02 to $4.26 per diluted share. Capital expenditures, including asset removal costs, are expected to be approximately $675 million in 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income