ONE Gas Announces First Quarter 2025 Financial Results; Expects to Achieve the Upper Half of 2025 Financial Guidance; Declares Second Quarter Dividend
PR Newswire
TULSA, Okla., May 5, 2025
Analyst call and webcast scheduled tomorrow, May 6 at 11 a.m. EST
TULSA, Okla., May 5, 2025 /PRNewswire/ -- ONE Gas, Inc. $(OGS)$ today announced its first-quarter financial results, said that it expects to achieve the upper half of its previously announced 2025 financial guidance and declared its quarterly dividend.
"We achieved strong financial results in the first quarter due to our effective regulatory strategy and a disciplined approach to managing expenses," said Robert S. McAnnally, president and chief executive officer. "Safety remains our top priority as we serve our customers and meet the growing demand for natural gas across our service territory."
FIRST QUARTER 2025 FINANCIAL RESULTS & HIGHLIGHTS
-- First quarter 2025 net income was $119.4 million, or $1.98 per diluted
share, compared with $99.3 million, or $1.75 per diluted share, in the
first quarter 2024;
-- While weather across the Company's service areas was 5 percent colder
than normal and 16 percent colder than the first quarter last year, the
impact on operating income was largely tempered by regulatory weather
normalization mechanisms; and
-- The board of directors declared a quarterly dividend of $0.67 per share
($2.68 annualized), payable on June 3, 2025, to shareholders of record at
the close of business on May 19, 2025.
FIRST QUARTER 2025 FINANCIAL PERFORMANCE
ONE Gas reported operating income of $180.5 million in the first quarter, compared with $145.9 million in the first quarter 2024, which primarily reflects:
-- an increase of $51.9 million from new rates; and
-- an increase of $2.3 million in residential sales due primarily to net
customer growth in Oklahoma and Texas.
The increase was partially offset by:
-- an increase of $5.1 million in depreciation and amortization expense from
additional capital investment;
-- an increase of $4.7 million in ad valorem taxes, primarily due to
regulatory outcomes which took effect during the quarter;
-- an increase of $3.2 million in employee-related costs, due primarily to
strategic investments in the Company's workforce and ongoing in-sourcing
efforts, which have strengthened operational oversight and improved
overall expense management; and
-- a net decrease of $6.5 million due to the impact of weather normalization
mechanisms, largely offset by higher sales volumes.
Excluding interest related to KGSS-I securitized bonds, net interest expense increased $4.7 million for the three months ending March 31, 2025. The increase in interest expense is due primarily to the reopening of the outstanding 5.10 percent senior notes in August 2024 to issue an additional $250 million and higher average commercial paper balances.
Income tax expense reflects credits for amortization of the regulatory liability associated with excess deferred income taxes $(EDIT)$ of $8.1 million and $10.1 million for the three months ended March 31, 2025, and 2024, respectively.
Capital expenditures and asset removal costs were $177.7 million for the first quarter 2025 compared with $179.4 million in the same period last year, primarily representing expenditures for system integrity and extension of service to new areas.
REGULATORY ACTIVITIES UPDATE
In April 2025, Kansas Gas Service submitted an application to the Kansas Corporation Commission $(KCC.AU)$ requesting an increase of approximately $7.2 million related to its Gas System Reliability Surcharge. The KCC has until August 2025 to issue an order.
In April 2025, Texas Gas Service made Gas Reliability Infrastructure Program filings for all customers in the Rio Grande Valley service area, requesting a $3.2 million increase to be effective in September 2025.
In February 2025, Oklahoma Natural Gas filed its annual Performance-Based Rate Change application for the test year ended December 2024. The filing includes a requested $41.5 million base rate revenue increase, $2.4 million energy efficiency incentive and $13.2 million of EDIT to be credited to customers in 2026. A hearing is scheduled for June 12, 2025.
In February 2025, Texas Gas Service made Gas Reliability Infrastructure Program filings for customers in each of the Central-Gulf and West-North service areas, requesting increases of $15.4 million and $8.2 million, respectively, to be effective in June 2025.
2025 FINANCIAL GUIDANCE
The company expects to achieve the upper half of the 2025 financial guidance shared on Dec. 5, 2024, which provided for net income in the range of $254 million to $261 million and earnings per diluted share of $4.20 to $4.32.
Capital investments, including asset removal costs, are expected to be approximately $750 million in 2025, primarily targeted for system integrity and replacement projects. Capital investments for extensions to new customers are expected to be approximately $180 million.
EARNINGS CONFERENCE CALL AND WEBCAST
The ONE Gas executive management team will host a conference call on Tuesday, May 6, 2025, at 11 a.m. Eastern Daylight Time (10 a.m. Central Daylight Time). The call also will be carried live on the ONE Gas website.
To participate in the telephone conference call, dial 833-470-1428, passcode 583185, or log on to www.onegas.com/investors and select Events and Presentations.
If you are unable to participate in the conference call or the webcast, a replay will be available on the ONE Gas website, www.onegas.com, for 30 days. A recording will be available by phone for seven days. The playback call may be accessed at 866-813-9403, passcode 983295.
ONE Gas, Inc. (NYSE: OGS) is a 100% regulated natural gas utility, and trades on the New York Stock Exchange under the symbol "OGS." ONE Gas is included in the S&P MidCap 400 Index and is one of the largest natural gas utilities in the United States.
Headquartered in Tulsa, Oklahoma, ONE Gas provides a reliable and affordable energy choice to more than 2.3 million customers in Kansas, Oklahoma and Texas. Its divisions include Kansas Gas Service, the largest natural gas distributor in Kansas; Oklahoma Natural Gas, the largest in Oklahoma; and Texas Gas Service, the third largest in Texas, in terms of customers.
For more information and the latest news about ONE Gas, visit onegas.com and follow its social channels: @ONEGas, Facebook, LinkedIn and YouTube.
Some of the statements contained and incorporated in this news release are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. The forward-looking statements relate to our anticipated financial performance, liquidity, management's plans and objectives for our future operations, our business prospects, the outcome of regulatory and legal proceedings, market conditions and other matters. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. The following discussion is intended to identify important factors that could cause future outcomes to differ materially from those set forth in the forward-looking statements.
Forward-looking statements include the items identified in the preceding paragraph, the information concerning possible or assumed future results of our operations and other statements contained or incorporated in this news release identified by words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "should," "goal," "forecast," "guidance," "could," "may," "continue," "might," "potential, " "scheduled," "likely," and other words and terms of similar meaning.
One should not place undue reliance on forward-looking statements, which are applicable only as of the date of this news release. Known and unknown risks, uncertainties and other factors may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Those factors may affect our operations, costs, liquidity, markets, products, services and prices. In addition to any assumptions and other factors referred to specifically in connection with the forward-looking statements, factors that could cause our actual results to differ materially from those contemplated in any forward-looking statement include, among others, the following:
-- our ability to recover costs, income taxes and amounts equivalent to the
cost of property, plant and equipment, regulatory assets and our allowed
rate of return in our regulated rates or other recovery mechanisms;
-- cyber-attacks, which, according to experts, continue to increase in
volume and sophistication, or breaches of technology systems that could
disrupt our operations or result in the loss or exposure of confidential
or sensitive customer, employee, vendor, counterparty, or Company
information; further, increased remote working arrangements have required
enhancements and modifications to our information technology
infrastructure (e.g. Internet, Virtual Private Network, remote
collaboration systems, etc.), and any failures of the technologies,
including third-party service providers, that facilitate working remotely
could limit our ability to conduct ordinary operations or expose us to
increased risk or effect of an attack;
-- our ability to manage our operations and maintenance costs;
-- changes in regulation of natural gas distribution services, particularly
those in Oklahoma, Kansas and Texas;
-- the economic climate and, particularly, its effect on the natural gas
requirements of our residential and commercial customers;
-- the length and severity of a pandemic or other health crisis which could
significantly disrupt or prevent us from operating our business in the
ordinary course for an extended period;
-- competition from alternative forms of energy, including, but not limited
to, electricity, solar power, wind power, geothermal energy and biofuels;
-- adverse weather conditions and variations in weather, including seasonal
effects on demand and/or supply, the occurrence of severe storms in the
territories in which we operate, and climate change, and the related
effects on supply, demand, and costs;
-- indebtedness could make us more vulnerable to general adverse economic
and industry conditions, limit our ability to borrow additional funds
and/or place us at competitive disadvantage compared with competitors;
-- our ability to secure reliable, competitively priced and flexible natural
gas transportation and supply, including decisions by natural gas
producers to reduce production or shut-in producing natural gas wells and
expiration of existing supply and transportation and storage arrangements
that are not replaced with contracts with similar terms and pricing;
-- our ability to complete necessary or desirable expansion or
infrastructure development projects, which may delay or prevent us from
serving our customers or expanding our business;
-- operational and mechanical hazards or interruptions;
-- adverse labor relations;
-- the effectiveness of our strategies to reduce earnings lag, revenue
protection strategies and risk mitigation strategies, which may be
affected by risks beyond our control such as commodity price volatility,
counterparty performance or creditworthiness and interest rate risk;
-- the capital-intensive nature of our business, and the availability of and
access to, in general, funds to meet our debt obligations prior to or
when they become due and to fund our operations and capital expenditures,
either through (i) cash on hand, (ii) operating cash flow, or (iii)
access to the capital markets and other sources of liquidity;
-- our ability to obtain capital on commercially reasonable terms, or on
terms acceptable to us, or at all;
-- limitations on our operating flexibility, earnings and cash flows due to
restrictions in our financing arrangements;
-- cross-default provisions in our borrowing arrangements, which may lead to
our inability to satisfy all of our outstanding obligations in the event
of a default on our part;
-- changes in the financial markets during the periods covered by the
forward-looking statements, particularly those affecting the availability
of capital and our ability to refinance existing debt and fund
investments and acquisitions to execute our business strategy;
-- actions of rating agencies, including the ratings of debt, general
corporate ratings and changes in the rating agencies' ratings criteria;
-- changes in inflation and interest rates;
-- our ability to recover the costs of natural gas purchased for our
customers and any related financing required to support our purchase of
natural gas supply;
-- impact of potential impairment charges;
-- volatility and changes in markets for natural gas and our ability to
secure additional and sufficient liquidity on reasonable commercial terms
to cover costs associated with such volatility;
-- possible loss of local distribution company franchises or other adverse
effects caused by the actions of municipalities;
-- payment and performance by counterparties and customers as contracted and
when due, including our counterparties maintaining ordinary course terms
of supply and payments;
-- changes in existing or the addition of new environmental, safety, tax,
cybersecurity and other laws or regulations to which we and our
subsidiaries are subject, including those that may require significant
expenditures, significant increases in operating costs or, in the case of
noncompliance, substantial fines or penalties;
-- the effectiveness of our risk-management policies and procedures, and
employees violating our risk-management policies;
-- the uncertainty of estimates, including accruals and costs of
environmental remediation;
-- advances in technology, including technologies that increase efficiency
or that improve electricity's competitive position relative to natural
gas;
-- population growth rates and changes in the demographic patterns of the
markets we serve in Oklahoma, Kansas and Texas, and economic conditions
in these areas;
-- acts of nature and naturally occurring disasters;
-- political unrest and the potential effects of threatened or actual
terrorism and war;
-- the sufficiency of insurance coverage to cover losses;
-- the effects of our strategies to reduce tax payments;
-- changes in accounting standards;
-- changes in corporate governance standards;
-- existence of material weaknesses in our internal controls;
-- our ability to comply with all covenants in our indentures and the ONE
Gas Credit Agreement, a violation of which, if not cured in a timely
manner, could trigger a default of our obligations;
-- our ability to attract and retain talented employees, management and
directors, and shortage of skilled-labor;
-- unexpected increases in the costs of providing health care benefits,
along with pension and postemployment health care benefits, as well as
declines in the discount rates on, declines in the market value of the
debt and equity securities of, and increases in funding requirements for,
our defined benefit plans; and
-- our ability to successfully complete merger, acquisition or divestiture
plans, regulatory or other limitations imposed as a result of a merger,
acquisition or divestiture, and the success of the business following a
merger, acquisition or divestiture.
These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of our forward-looking statements. Other factors could also have material adverse effects on our future results. These and other risks are described in greater detail in Part 1, Item 1A, Risk Factors, in our Annual Report. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Other than as required under securities laws, we undertake no obligation to update publicly any forward-looking statement whether as a result of new information, subsequent events or change in circumstances, expectations or otherwise.
APPENDIX
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ONE Gas, Inc.
CONSOLIDATED STATEMENTS OF INCOME
Three Months Ended
March 31,
(Unaudited) 2025 2024
------------------------------- ------------------- -------------------
(Thousands of dollars, except
per share amounts)
Total revenues $ 935,190 $ 758,320
Cost of natural gas 512,462 383,003
Operating expenses
Operations and maintenance 135,295 132,783
Depreciation and amortization 81,704 76,572
General taxes 25,230 20,102
-------------------------------- ------------------- -------------------
Total operating expenses 242,229 229,457
-------------------------------- ------------------- -------------------
Operating income 180,499 145,860
-------------------------------- ------------------- -------------------
Other income, net 518 3,508
Interest expense, net (35,697) (31,357)
-------------------------------- ------------------- -------------------
Income before income taxes 145,320 118,011
-------------------------------- ------------------- -------------------
Income taxes (25,901) (18,694)
-------------------------------- ------------------- -------------------
Net income $ 119,419 $ 99,317
================================ =================== ===================
Earnings per share
Basic $ 1.99 $ 1.75
Diluted $ 1.98 $ 1.75
================================ =================== ===================
Average shares (thousands)
Basic 60,077 56,729
Diluted 60,266 56,800
================================ =================== ===================
Dividends declared per share of
stock $ 0.67 $ 0.66
================================ =================== ===================
APPENDIX
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ONE Gas, Inc.
CONSOLIDATED BALANCE SHEETS
March 31, December 31,
(Unaudited) 2025 2024
------------------------------------ ------------------ ------------------
Assets (Thousands of dollars)
Property, plant and equipment
Property, plant and equipment $ 9,231,791 $ 9,124,134
Accumulated depreciation and
amortization 2,493,171 2,478,261
------------------------------------ ------------------ ------------------
Net property, plant and equipment 6,738,620 6,645,873
------------------------------------ ------------------ ------------------
Current assets
Cash and cash equivalents 19,305 57,995
Restricted cash and cash
equivalents 8,883 20,542
------------------------------------ ------------------ ------------------
Total cash, cash equivalents and
restricted cash and cash
equivalents 28,188 78,537
Accounts receivable, net 446,807 408,448
Materials and supplies 87,981 91,662
Income tax receivable 53,624 53,624
Natural gas in storage 68,686 161,184
Regulatory assets 36,538 101,210
Other current assets 34,414 35,216
------------------------------------ ------------------ ------------------
Total current assets 756,238 929,881
------------------------------------ ------------------ ------------------
Goodwill and other assets
Regulatory assets 268,581 278,006
Securitized intangible asset, net 258,257 265,951
Goodwill 157,953 157,953
Pension and other postemployment
benefits 44,366 42,882
Other assets 103,225 105,025
------------------------------------ ------------------ ------------------
Total goodwill and other assets 832,382 849,817
------------------------------------ ------------------ ------------------
Total assets $ 8,327,240 $ 8,425,571
==================================== ================== ==================
APPENDIX
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ONE Gas, Inc.
CONSOLIDATED BALANCE SHEETS
(Continued)
March 31, December 31,
(Unaudited) 2025 2024
---------------------------- ---------------------- ----------------------
Equity and Liabilities (Thousands of dollars)
Equity and long-term debt
Common stock, $0.01 par
value: authorized
250,000,000 shares;
issued and outstanding
59,929,090 shares at
March 31, 2025; issued
and outstanding
59,876,861 shares at
December 31, 2024 $ 599 $ 599
Paid-in capital 2,295,989 2,294,469
Retained earnings 888,449 809,606
Accumulated other
comprehensive loss (2) (126)
Total equity 3,185,035 3,104,548
---------------------------- ---------------------- ----------------------
Other long-term debt,
excluding current
maturities, net of
issuance costs 2,132,039 2,131,718
Securitized utility tariff
bonds, excluding current
maturities, net of
issuance costs 238,363 253,568
---------------------------- ---------------------- ----------------------
Total long-term debt,
excluding current
maturities, net of
issuance costs 2,370,402 2,385,286
---------------------------- ---------------------- ----------------------
Total equity and long-term
debt 5,555,437 5,489,834
---------------------------- ---------------------- ----------------------
Current liabilities
Current maturities of other
long-term debt 14 14
Current maturities of
securitized utility tariff
bonds 29,750 28,956
Notes payable 811,900 914,600
Accounts payable 175,898 261,321
Accrued taxes other than
income 77,853 75,608
Regulatory liabilities 39,665 22,525
Customer deposits 54,923 56,243
Other current liabilities 87,395 99,009
---------------------------- ---------------------- ----------------------
Total current liabilities 1,277,398 1,458,276
---------------------------- ---------------------- ----------------------
Deferred credits and other
liabilities
Deferred income taxes 921,360 891,738
Regulatory liabilities 457,126 467,563
Other deferred credits 115,919 118,160
---------------------------- ---------------------- ----------------------
Total deferred credits and
other liabilities 1,494,405 1,477,461
---------------------------- ---------------------- ----------------------
Commitments and
contingencies
---------------------------- ---------------------- ----------------------
Total liabilities and
equity $ 8,327,240 $ 8,425,571
============================ ====================== ======================
APPENDIX
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ONE Gas, Inc.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Three Months Ended
March 31,
(Unaudited) 2025 2024
-------------------------- ----------------------- -----------------------
(Thousands of dollars)
Operating activities
Net income $ 119,419 $ 99,317
Adjustments to reconcile
net income to net cash
provided by operating
activities:
Depreciation and
amortization 81,704 76,572
Deferred income taxes 19,146 16,247
Share-based compensation
expense 3,656 3,117
Provision for doubtful
accounts 2,331 1,675
Changes in assets and
liabilities:
Accounts receivable (40,690) 21,684
Materials and supplies 3,681 (2,700)
Natural gas in storage 92,498 76,646
Asset removal costs (11,089) (12,621)
Accounts payable (72,871) (68,117)
Accrued taxes other
than income 2,245 (4,388)
Customer deposits (1,320) (4,123)
Regulatory assets and
liabilities - current 73,872 (58,520)
Regulatory assets and
liabilities -
noncurrent 9,425 2,520
Other assets and
liabilities - current (11,650) (39,312)
Other assets and
liabilities -
noncurrent 7,102 265
-------------------------- ----------------------- -----------------------
Cash provided by
operating activities 277,459 108,262
-------------------------- ----------------------- -----------------------
Investing activities
Capital expenditures (166,597) (166,751)
Other investing
expenditures (2,427) (1,259)
Other investing receipts 1,179 2,029
-------------------------- ----------------------- -----------------------
Cash used in investing
activities (167,845) (165,981)
-------------------------- ----------------------- -----------------------
Financing activities
Borrowings (repayments)
of notes payable, net (102,700) 864,900
Repayment of other
long-term debt (4) (773,000)
Repayment of securitized
utility tariff bonds (14,547) (13,780)
Dividends paid (40,153) (37,336)
Tax withholdings related
to net share settlements
of stock compensation (2,559) (980)
-------------------------- ----------------------- -----------------------
Cash provided by (used
in) financing
activities (159,963) 39,804
-------------------------- ----------------------- -----------------------
Change in cash, cash
equivalents,
restricted cash and
restricted cash
equivalents (50,349) (17,915)
Cash, cash equivalents,
restricted cash and
restricted cash
equivalents at
beginning of period 78,537 39,387
-------------------------- ----------------------- -----------------------
Cash, cash equivalents,
restricted cash and
restricted cash
equivalents at end of
period $ 28,188 $ 21,472
========================== ======================= =======================
Supplemental cash flow
information:
Cash paid for interest,
net of amounts
capitalized $ 36,268 $ 41,497
Cash paid (received) for
state income taxes $ -- $ (2,797)
Cash paid (received) for $ -- $ --
federal income taxes
========================== ======================= =======================
APPENDIX
ONE Gas, Inc.
KGSS-I SECURITIZATION
In November 2022, Kansas Gas Service Securitization I, L.L.C. (KGSS-I) issued $336 million of securitized utility tariff bonds. KGSS-I used the proceeds from the issuance to purchase the Securitized Utility Tariff Property from Kansas Gas Service, pay for debt issuance costs, and reimburse Kansas Gas Service for upfront securitization costs paid on behalf of KGSS-I.
Revenues for the three months ended March 31, 2025, include $11.6 million associated with KGSS-I, which is offset by $7.8 million in operating and amortization expense and $3.8 million in net interest expense. Revenues were in line compared to the same period last year, which was offset by a $0.3 million increase in operating and amortization expense and a $0.3 million decrease in net interest expense.
The following table summarizes the impact of KGSS-I on the consolidated balance sheets, for the periods indicated:
March 31, March 31,
2025 2024
----------------------------------- ------------------- ------------------
(Thousands of dollars)
Restricted cash and cash
equivalents $ 8,883 $ 20,542
Accounts receivable 5,341 4,659
Securitized intangible asset, net 258,257 265,951
----------------------------------- ------------------- ------------------
Total assets $ 272,487 $ 291,152
=================================== =================== ==================
Current maturities of securitized
utility tariff bonds 29,750 28,956
Accounts payable 169 319
Accrued interest 2,494 6,568
Securitized utility tariff bonds,
excluding current maturities, net
of discounts and issuance costs
$4.7 million and $4.8 million, as
of March 31, 2025 and December 31,
2024, respectively 238,363 253,568
Paid-in capital 1,680 1,681
Retained earnings 31 60
----------------------------------- ------------------- ------------------
Total liabilities and equity $ 272,487 $ 291,152
=================================== =================== ==================
The following table summarizes the impact of KGSS-I on the consolidated statements of income, for the periods indicated:
Three Months Ended
March 31,
2025 2024
--------------------------- ---------------- ----------------
(Thousands of dollars)
Operating revenues $ 11,637 $ 11,671
Operating expense (110) (111)
Amortization expense (7,694) (7,385)
Interest income 148 188
Interest expense (3,944) (4,327)
---------------------------- ---------------- ----------------
Income before income taxes 37 36
---------------------------- ---------------- ----------------
Income taxes 6 --
--------------------------- ---------------- ----------------
Net income $ 43 $ 36
============================ ================ ================
APPENDIX
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ONE Gas, Inc.
INFORMATION AT A GLANCE
Three Months Ended
March 31,
(Unaudited) 2025 2024
--------------------------------------------- ------------- ----------
(Millions of dollars)
Natural gas sales $ 870.4 $ 694.1
Transportation revenues 43.8 40.4
Securitization customer charges 11.6 11.7
Other revenues 9.4 12.1
--------------------------------------------- --------- ---------
Total revenues 935.2 758.3
Cost of natural gas 512.5 383.0
Operating costs 160.5 152.8
Depreciation and amortization 81.7 76.6
--------------------------------------------- --------- ---------
Operating income $ 180.5 $ 145.9
============================================= ========= =========
Net income $ 119.4 $ 99.3
Capital expenditures and asset removal costs $ 177.7 $ 179.4
Volumes (Bcf)
---------------------------------------------
Natural gas sales
Residential 58.9 52.4
Commercial and industrial 19.2 17.0
Other 1.2 1.1
Total sales volumes delivered 79.3 70.5
Transportation 65.3 63.4
Total volumes delivered 144.6 133.9
Average number of customers (in thousands)
---------------------------------------------
Residential 2,125 2,110
Commercial and industrial 165 165
Other 3 3
Transportation 12 12
Total customers 2,305 2,290
Heating Degree Days
---------------------------------------------
Actual degree days 5,513 4,741
Normal degree days 5,231 5,219
Percent colder (warmer) than normal weather 5 % (9) %
Statistics by State
---------------------------------------------
Oklahoma
---------------------------------------------
Average number of customers (in thousands) 934 928
Actual degree days 1,916 1,681
Normal degree days 1,797 1,800
Percent colder (warmer) than normal weather 7 % (7) %
Kansas
---------------------------------------------
Average number of customers (in thousands) 659 656
Actual degree days 2,610 2,201
Normal degree days 2,486 2,460
Percent colder (warmer) than normal weather 5 % (11) %
Texas
---------------------------------------------
Average number of customers (in thousands) 712 706
Actual degree days 987 859
Normal degree days 948 959
Percent colder (warmer) than normal weather 4 % (10) %
Analyst Contact: Erin Dailey
918-947-7411
Media Contact: Leah Harper
918-947-7123
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SOURCE ONE Gas, Inc.
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