ONE Gas (OGS) Tops Q1 EPS by 9c

ONE Gas (NYSE: OGS) reported Q1 EPS of $1.44, $0.09 better than the analyst estimate of $1.35.

• First-quarter 2017 net income was $76.5 million, or $1.44 per diluted share, compared with $64.7 million, or $1.22 per diluted share, in the first quarter 2016;
• The adoption of a new share-based payment accounting standard in the first quarter 2017 resulted in a $5.2 million tax benefit, which contributed earnings of 10 cents per diluted share;
• Actual heating degree days across the company's service areas were 4,007 in the first quarter 2017, 24 percent warmer than normal and 12 percent warmer than the same period last year; and
• The board of directors declared a quarterly dividend of 42 cents per share, or $1.68 per share on an annualized basis, payable on June 1, 2017, to shareholders of record at the close of business on May 15, 2017.

"In the first quarter 2017, we continued to implement our strategy of focusing on safety and reinvestment in our system," said Pierce H. Norton II, president and chief executive officer. "Our solid results are a reflection of this strategy."

For earnings history and earnings-related data on ONE Gas (OGS) click here.

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