ONE Gas (OGS) Tops Q4 EPS by 1c, Revenues Beat; Offers FY20 EPS Guidance

ONE Gas (NYSE: OGS) reported Q4 EPS of $0.96, $0.01 better than the analyst estimate of $0.95. Revenue for the quarter came in at $452.61 million versus the consensus estimate of $468 million.

Highlights include:

• Fourth quarter 2019 net income was $51.2 million, or $0.96 per diluted share, compared with $44.7 million, or $0.84 per diluted share, in the fourth quarter 2018;
• Full year 2019 net income increased to $186.7 million, or $3.51 per diluted share, compared with $172.2 million, or $3.25 per diluted share, in 2018;
• Full year 2019 capital expenditures and asset removal costs were $465.1 million, compared with $447.4 million in 2018; and
• On Jan. 21, 2020, the company increased its quarterly dividend 4 cents to 54 cents per share, or $2.16 per share on an annualized basis, payable on March 6, 2020, to shareholders of record at close of business Feb. 21, 2020.

"We are pleased to close out the decade with a year of strong financial results," said Pierce H. Norton II, president and chief executive officer. "As we move into a new decade, we will continue to focus on modernizing and expanding our pipelines while providing a safe, reliable and affordable energy choice for our customers."

GUIDANCE:

ONE Gas sees FY2020 EPS of $3.44-$3.68, versus the consensus of $3.64.

• On Jan. 21, 2020, ONE Gas announced that its 2020 net income is expected to be in the range of $186 million to $198 million, or $3.44 to $3.68 per diluted share.
• Capital expenditures, including asset removal costs, are expected to be approximately $475 million in 2020, with approximately 70% of these expenditures targeted for system integrity and replacement projects.

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

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