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Earnings analysis · 10-Q

OGS earnings analysis

Filed May 5, 2026 · Our reading of the company's report

The latest report

ONE Gas, Inc. reported disappointing Q1 2026 results, with total revenue of $831.71 million falling short of estimates and a diluted EPS of $2.11, also below expectations. Despite a slight increase in operating income,…

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ONE Gas, Inc. reported disappointing Q1 2026 results, with total revenue of $831.71 million falling short of estimates and a diluted EPS of $2.11, also below expectations. Despite a slight increase in operating income, management faces challenges with declining natural gas sales and elevated costs, while reaffirming their ongoing financial guidance.

Read the original on SEC.gov

Reported figures

Earnings per share
$2.11

What stood out

  • Revenue Fell Short of Estimates

    Total revenue reached $831.71 million, 14% below the estimated $967.09 million.

  • Diluted EPS Below Expectations

    Diluted EPS was reported at $2.11, falling short of the estimated $2.15.

  • Operating Income Increased

    Operating income rose to $189.6 million, up 5% from $180.5 million in the prior year.

  • Cash Dividend Declared

    A dividend of $0.68 per share was declared for shareholders, payable on June 2, 2026.

  • Tax Refund Boost

    Received a $64.3 million tax refund, aiding cash flow.

  • Natural Gas Sales Declined

    Natural gas sales dropped significantly by 12%, from $870.4 million to $769.9 million.

What to watch

  • Operational Challenges Persist

    Lower sales volumes and higher costs related to planned workforce investments affect profitability.

  • Weather Impact on Revenue

    The first quarter was 24.6% warmer than last year, leading to decreased demand for natural gas.

  • Debt Exposure

    The changing interest rates led to increased debt servicing costs, with a weighted average rate of 4.14% on commercial paper.

Management's outlook

Management reaffirmed its overall financial guidance for 2026 without numeric specifics.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.