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ONE Gas (OGS)
NYSE:OGS
Earnings Data
Report Date
May 04, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
2.17Last Year’s EPS
1.98Same Quarter Last Year
Moderate Buy
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong operational resilience (notably during Winter Storm Fern), solid full-year and quarterly financial performance with double-digit improvements in adjusted and GAAP metrics, clear growth projects and continued customer additions, and affirmed credit ratings. The company also introduced non-GAAP adjustments to reflect regulatory accounting impacts from Texas House Bill 4384, which increased the persistent delta between regulatory and GAAP results and introduces some complexity and timing differences for cash recoveries. O&M was slightly above guidance due to earlier execution of projects, and some legislative/regulatory changes (Kansas GSRS) remain uncertain. Overall, positive operational and financial momentum outweighs the manageable accounting and timing challenges described.Company Guidance
Strong Full-Year Financial Performance
2025 GAAP net income of $264 million ($4.37 per diluted share) versus $223 million ($3.91) in 2024, an increase of ~18% in net income and ~11.8% in EPS. 2025 adjusted net income was $271 million ($4.48) versus $225 million ($3.94) in 2024, up ~20.4% in adjusted net income and ~13.7% in adjusted EPS.
Solid Fourth Quarter Results
Q4 adjusted net income of $90 million ($1.48 per diluted share) compared with $78 million ($1.35) in Q4 2024 — a ~15.4% increase in adjusted net income and ~9.6% increase in adjusted EPS year-over-year.
Raised and Met Guidance; Consistent Execution
Raised midpoint of EPS guidance to $4.37 in August and finished the year in line with that midpoint — marking the 12th consecutive year of meeting or surpassing the midpoint of initial EPS guidance.
Forward Guidance and Long-Term Growth Outlook
2026 adjusted net income guidance of $306M–$314M and adjusted EPS guidance of $4.83–$4.95. Long-term adjusted net income growth projected at 7%–9% and adjusted EPS growth of 5%–7%, implying a 2030 adjusted EPS midpoint of roughly $6.
Operational Resilience During Winter Storm Fern
Delivered over 3 billion cubic feet of gas on the peak storm day with no supply disruptions. Available winter peak capacity increased ~25% after Austin system reinforcement; storage capacity increased to over 60 Bcf and, across the service territory, over 80% of gas needed during the storm was shielded from temporary price increases.
Significant Capital Investment and Growth Projects
Completed $760 million of capital expenditures in 2025 (including $170 million for customer growth). Announced a ~$120 million pipeline to deliver over 100 billion cubic feet annually to Western Farmers Electric Cooperative and broke ground on a project to serve an advanced manufacturing plant (on track for Q3 service).
Customer Growth and Affordability
Added about 23,000 new residential customers annually. Kept cumulative residential bill CAGR below inflation at just under 2%, supporting affordability while growing the system.
Operational Efficiency and Safety Improvements
Completed 1.3 million line locates, performing ~40% in-house. Excavation damages per 1,000 locates decreased by over 14% YoY despite an 8% increase in ticket volumes, reflecting improved execution and reduced long-term costs.
Stronger Financing and Credit Profile
S&P affirmed A- with stable outlook and Moody's affirmed A3 with stable outlook. 2025 cash flow metrics were several hundred basis points above downgrade thresholds; interest expense in the quarter was $2.9 million lower YoY (excluding KGSS1), helped by Federal Reserve cuts.
Regulatory Wins in Texas
Received final Texas rate case order approving a $14.4 million revenue increase, a 9.8% return on equity and a 59.9% equity ratio, and consolidation of three Texas jurisdictions into a single statewide division — expected to simplify filings (one GRIP filing for Texas Gas Service).
OGS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
OGS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 18, 2026 | $83.32 | $84.87 | +1.86% |
Sep 30, 2025 | $79.64 | $78.63 | -1.27% |
Aug 06, 2025 | $72.00 | $73.26 | +1.75% |
May 05, 2025 | $75.63 | $78.17 | +3.35% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does ONE Gas (OGS) report earnings?
ONE Gas (OGS) is schdueled to report earning on May 04, 2026, After Close (Confirmed).
What is ONE Gas (OGS) earnings time?
ONE Gas (OGS) earnings time is at May 04, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is OGS EPS forecast?
OGS EPS forecast for the fiscal quarter 2026 (Q1) is 2.17.