ONE Gas (OGS) Tops Q4 EPS by 3c, Revenues Beat; Offers FY21 EPS Mid-Point Guidance Below Consenus

ONE Gas (NYSE: OGS) reported Q4 EPS of $1.09, $0.03 better than the analyst estimate of $1.06. Revenue for the quarter came in at $484.17 million versus the consensus estimate of $478.98 million.

"While we are pleased to close out 2020 on a positive note, we are mindful of the far-reaching impact of the recent winter storm," said Pierce H. Norton II, president and chief executive officer. "Our employees showed unwavering resilience in responding to the challenges presented by the intensity and duration of the winter storm. Thanks to their efforts, we had very few outages across our system and were able to continue our focus on delivering natural gas service safely and reliably to our 2.2 million customers."

GUIDANCE:

ONE Gas sees FY2021 EPS of $3.68-$3.92, versus the consensus of $3.82.

The company affirms its initial guidance issued on Jan. 19, 2021, when it announced that 2021 net income is expected to be in the range of $198 million to $210 million, or $3.68 to $3.92 per diluted share.

Capital expenditures, including asset removal costs, are expected to be approximately $540 million in 2021, with nearly 70% of these expenditures targeted for system integrity and the balance primarily for customer growth.

The company's guidance assumes, among other things, the deferral of extraordinary costs associated with the February 2021 winter weather event, including natural gas purchases and other costs related to the procurement and transportation of gas supply including the associated financing costs.

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

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