We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
ONE Gas' (OGS) Q1 Earnings & Revenues Surpass Estimates
Read MoreHide Full Article
ONE Gas, Inc. (OGS - Free Report) recorded first-quarter 2019 operating earnings of $1.76 per share, beating the Zacks Consensus Estimate of $1.73 by 1.7%.
The reported earnings improved 2.3% year over year driven by new rates, colder-than-normal weather and customer growth.
Total Revenues
The company reported total revenues of $661 million in the first quarter, beating the Zacks Consensus Estimate of $625 million by nearly 5.7%. Also, the figure was ahead of the prior-year revenues of $638.5 million by 3.5%.
Total operating expenses in the reported quarter increased 6.7% from the year-ago period to $168.3 million, owing to increase in operating and maintenance expenses.
Operating income in the reported quarter declined 2.1% year over year to $168.3 million.
The company incurred interest expenses of $15.8 million, increasing 27.4% from the year-ago period.
Financial Highlights
On Mar 31, 2019, ONE Gas had cash and cash equivalents of $19.6 million compared with $21.3 million at 2018-end.
Long-term debt (excluding current maturities) was $1,285.6 million as of Mar 31, 2019, increasing marginally from the Dec 31, 2018 level of $1,285.5 million.
The company’s cash flow from operating activities in first-quarter 2019 was $122.3 million, decreasing 45.2% from $223.3 million recorded in the prior-year period.
Guidance
ONE Gas reiterated its guidance for 2019 net income in the range of $174-$190 million and earnings per share within $3.27-$3.57. The midpoint of management’s 2019 EPS guidance is $3.42, which is lower than the current Zacks Consensus Estimate of $3.45 per share for the period.
The company now expects 2019 capital expenditure to be $450 million, of which 70% is directed toward system integrity and replacement projects.
Upcoming Releases
MDU Resources Group Inc. (MDU - Free Report) is expected to release first-quarter 2019 results on May 1. The Zacks Consensus Estimate for the quarter is pegged at 24 cents per share.
National Fuel Gas Company (NFG - Free Report) is expected to release second-quarter fiscal 2019 results on May 3. The Zacks Consensus Estimate for the quarter to be reported is pegged at $1.11 per share.
Atmos Energy Corporation (ATO - Free Report) is expected to release second-quarter fiscal 2019 results on May 7. The Zacks Consensus Estimate for the quarter is pegged at $1.66 per share.
Is Your Investment Advisor Fumbling Your Financial Future?
See how you can more effectively safeguard your retirement with a new Special Report, “4 Warning Signs Your Investment Advisor Might Be Sabotaging Your Financial Future.”
Image: Bigstock
ONE Gas' (OGS) Q1 Earnings & Revenues Surpass Estimates
ONE Gas, Inc. (OGS - Free Report) recorded first-quarter 2019 operating earnings of $1.76 per share, beating the Zacks Consensus Estimate of $1.73 by 1.7%.
The reported earnings improved 2.3% year over year driven by new rates, colder-than-normal weather and customer growth.
Total Revenues
The company reported total revenues of $661 million in the first quarter, beating the Zacks Consensus Estimate of $625 million by nearly 5.7%. Also, the figure was ahead of the prior-year revenues of $638.5 million by 3.5%.
ONE Gas, Inc. Price, Consensus and EPS Surprise
ONE Gas, Inc. Price, Consensus and EPS Surprise | ONE Gas, Inc. Quote
Quarterly Highlights
Total operating expenses in the reported quarter increased 6.7% from the year-ago period to $168.3 million, owing to increase in operating and maintenance expenses.
Operating income in the reported quarter declined 2.1% year over year to $168.3 million.
The company incurred interest expenses of $15.8 million, increasing 27.4% from the year-ago period.
Financial Highlights
On Mar 31, 2019, ONE Gas had cash and cash equivalents of $19.6 million compared with $21.3 million at 2018-end.
Long-term debt (excluding current maturities) was $1,285.6 million as of Mar 31, 2019, increasing marginally from the Dec 31, 2018 level of $1,285.5 million.
The company’s cash flow from operating activities in first-quarter 2019 was $122.3 million, decreasing 45.2% from $223.3 million recorded in the prior-year period.
Guidance
ONE Gas reiterated its guidance for 2019 net income in the range of $174-$190 million and earnings per share within $3.27-$3.57. The midpoint of management’s 2019 EPS guidance is $3.42, which is lower than the current Zacks Consensus Estimate of $3.45 per share for the period.
The company now expects 2019 capital expenditure to be $450 million, of which 70% is directed toward system integrity and replacement projects.
Upcoming Releases
MDU Resources Group Inc. (MDU - Free Report) is expected to release first-quarter 2019 results on May 1. The Zacks Consensus Estimate for the quarter is pegged at 24 cents per share.
National Fuel Gas Company (NFG - Free Report) is expected to release second-quarter fiscal 2019 results on May 3. The Zacks Consensus Estimate for the quarter to be reported is pegged at $1.11 per share.
Atmos Energy Corporation (ATO - Free Report) is expected to release second-quarter fiscal 2019 results on May 7. The Zacks Consensus Estimate for the quarter is pegged at $1.66 per share.
Zacks Rank
ONE Gas currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Is Your Investment Advisor Fumbling Your Financial Future?
See how you can more effectively safeguard your retirement with a new Special Report, “4 Warning Signs Your Investment Advisor Might Be Sabotaging Your Financial Future.”
Click to get it free >>