OGS · ONE Gas, Inc.
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OneGas raised its 2026 adjusted EPS guidance to $4.95 to $5.01 after third-quarter adjusted EPS increased 13% year-over-year to 53 cents. The company completed its 2026 financing plan with no additional equity needs.
ONE Gas raised its 2026 adjusted earnings per diluted share guidance to $4.95 to $5.01 from $4.89 to $4.95, reported third-quarter adjusted net income of $33.5 million, or $0.53 per diluted share, and declared a $0.68 per-share dividend.
ONE Gas will release third quarter 2026 financial results after the market closes Monday, Nov. 2, 2026, and host a conference call Tuesday, Nov. 3, 2026, at 11 a.m. Eastern Standard Time (10 a.m. Central Standard Time).
ONE Gas will participate virtually in the Wolfe Research Utilities, Midstream & Clean Energy Conference on Sept. 29, 2026, when Sid McAnnally, Curtis Dinan and Christopher Sighinolfi will meet members of the investment community.
Metrics snapshot
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AI Brief
Q3 FY26 earnings call · Nov 3, 2026TL;DR. OneGas raised 2026 adjusted EPS guidance, delivered higher third-quarter adjusted earnings, completed its financing plan, held O&M flat, and expanded large-load and regulatory revenue opportunities. The outlook is tempered by weather-driven volume declines, higher costs and interest expense, the Oklahoma Supreme Court appeal, and management’s expectation of below-trend 2027 earnings growth.
- + Raised 2026 adjusted EPS guidance to $4.95–$5.01 from $4.89–$4.95.
- + Third-quarter adjusted net income increased to $33.5 million, or $0.53 per diluted share, from $28.6 million, or $0.47 per diluted share.
- + The 2026 financing plan is complete with no additional equity needs for the year.
- + Third-quarter O&M expense was flat year-over-year and markedly lower than the 7.5% year-over-year increase in the first half.
- + Four large-load projects represent approximately $22 million of additional annual revenue and $200 million of associated capital.
- + New regulatory rates provide annual revenue increases of $14.3 million in Kansas, $36.9 million in Texas, and $28.7 million in Oklahoma.
- − Weather was 23% warmer than normal for the first nine months of 2026.
- − Lower sales and transportation volumes reduced year-to-date revenue by $11.3 million.
- − Year-to-date employee-related costs increased $13.4 million, while outside services, fleet expense, and bad debt expense also increased.
- − Third-quarter net interest expense increased $1.6 million, excluding interest related to KGSS-I securitized bonds.
- − The Oklahoma rate-case approval has been appealed to the Oklahoma Supreme Court.
- − Management expects 2027 earnings growth to be below trend because the Oklahoma rate-case process will be longer and the PBR mechanism will be absent.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Average Number of Total Customers | 2.31M | Three Months Ended June 30, 2026 filing | — |
| Transportation volumes delivered | 50,689 | Three Months Ended June 30, 2026 filing | — |
| Adjusted net income - non-GAAP non-GAAP | $185.46M | Six Months Ended June 30, 2026 | — |
| Adjusted net income per share - non-GAAP, Basic non-GAAP | $2.95 | Six Months Ended June 30, 2026 | — |
| Adjusted net income per share - non-GAAP, Diluted non-GAAP | $2.94 | Six Months Ended June 30, 2026 | — |
| Capital expenditures and asset removal costs | $357.9M | Six Months Ended June 30, 2026 | — |
| Commercial and industrial | 162K | Six Months Ended June 30, 2026 | — |
| Property, plant and equipment placed in service eligible for deferred carrying cost treatment | 125.3M | Six Months Ended June 30, 2026 | — |
| Residential | 2.14M | Six Months Ended June 30, 2026 | — |
| Total customers | 2.31M | Six Months Ended June 30, 2026 | — |
| Total sales volumes delivered | 75.8 | Six Months Ended June 30, 2026 | — |
| Total volumes delivered | 185.6 | Six Months Ended June 30, 2026 | — |
| Transportation | 109.8 | Six Months Ended June 30, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Utilities - Regulated Gas — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
OGS
this stock
ONE Gas, Inc.
|
$5.27B | +8.6% | +42.5% | 17.9 | 7.1% |
|
ATO
Atmos Energy Corp
|
$29.79B | +5.2% | +12.9% | 21.0 | 2.4% |
|
NI
Nisource Inc.
|
$22.09B | +10.3% | +8.5% | 23.6 | 4.1% |
|
UGI
Ugi Corp
|
$8.09B | +0.8% | +1.1% | — | 5.9% |
|
SWX
Southwest Gas Holdings, Inc.
|
$6.79B | +17.0% | +9.6% | 22.8 | 3.7% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| OGS | +3.6% | +10.9% | +2.6% | +6.8% | +8.6% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | +1.0% | +12.1% | +2.1% | +7.0% | -2.1% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.