ONE Gas, Inc. (OGS) Earnings Call Transcripts

ONE Gas, Inc.'s Latest Earnings Call - Q1 FY2026

ONE Gas, Inc. reported its Q1 2026 earnings, highlighting a 6% year-over-year growth in adjusted EPS despite a notably warm winter. The company reported adjusted net income of $133.4 million or $2.11 per diluted share, compared to $120.1 million or $1.99 in the previous year. Revenue increased by approximately $27 million due to new rates. Management affirmed its guidance for FY 2026, projecting adjusted net income between $306 million and $314 million and adjusted EPS between $4.83 and $4.95.

Reported metrics

Guidance from management

Management affirmed its guidance for FY 2026, with adjusted net income expected between $306 million and $314 million and adjusted EPS between $4.83 and $4.95.

What management said

Paul, I don't. I'd have to follow up with you. I mean we broke out specifically for the Texas House Bill, the non-GAAP, the equity return component. But in terms of how much it impacted interest expense and depreciation, I don't have that offhand. But if you're looking for sort of a total, "Hey, how much did this impact you?" I think that's something we could probably work to provide. In terms of the weather impact...

Paul, this is Curtis. And we have not quantified that project. Probably the easiest way is if you look at what our tariff is, and I've given you what the volumes are, but we've not made a specific comment about what the total of that would be. And typically, we wouldn't on any individual projects like that. So -- but we will include it as part of our overall guidance as we update it.

What analysts pressed on

Analysts questioned the impact of the warm weather on earnings and the potential for future large-load projects. Concerns were raised about the ability to manage O&M expenses and the impact of weather normalization mechanisms.

Main topics on the call

• Weather Impact — The quarter was impacted by historically warm weather, with temperatures 25% warmer than the previous year. Despite this, ONE Gas managed to mitigate some effects through weather normalization mechanisms and increased st...
• Regulatory Developments — New rates and the impact of Texas House Bill 4384 contributed to financial performance. Oklahoma and Texas regulatory filings are expected to result in revenue increases of $28.7 million and $36.9 million, respectively.
• Operational Efficiency — O&M expenses increased by 8.6% due to employee-related costs and increased line locating activity. Management expects to maintain a 3% to 4% compound annual growth rate in O&M expenses.
• Capital Projects — Completed $170 million in capital projects, with significant progress on the Western Farmers project and a new pipeline in El Paso. Six large-load projects are in late-stage discussions, potentially adding significant de...

Read the full ONE Gas, Inc. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 32 ONE Gas, Inc. earnings call transcripts on record, spanning February 20, 2020 to May 5, 2026. Based on this history, ONE Gas, Inc. reports quarterly. The most recent call on file is dated May 5, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

OGS

Exchange

NYSE

Country

US

Sector

Utilities

Industry

Gas Utilities

Calls on record

32

First call

February 20, 2020

Most recent

May 5, 2026

Reporting cadence

quarterly