Increased Earnings Guidance
ONE Gas raised its full-year earnings per share forecast to be between $4.34 and $4.40, reflecting strong year-to-date financial performance and the expected impact of Texas House Bill 4384.
Austin System Reinforcement Project Completion
The Austin System Reinforcement project was completed in Q3, boosting winter peak capacity by approximately 25% and providing increased access to cost-effective natural gas. The project was delivered ahead of schedule, under budget, and without any lost time injuries.
Significant Net Income Increase
Net income for the third quarter was $26.5 million or $0.44 per diluted share, compared to $19.3 million or $0.34 in the same period last year.
Successful Long-term Debt Issuance
ONE Gas issued a $250 million term loan maturing in 2026, enhancing its liquidity by increasing the revolving credit facility to $1.5 billion and extending maturity to October 2030.
Operational Improvements in Line Locating
In-sourcing line locating has led to a 13% year-over-year decrease in total excavation damages, despite an 8% increase in ticket volumes.