ONE Gas (OGS) Reports In-Line Q3 EPS; Updates Guidance

After the close, ONE Gas (NYSE: OGS) reported Q3 EPS of $0.14, in-line with the analyst estimate of $0.14. The company also updated 2015 guidance.

Highlights include:

• Third-quarter 2015 net income was $­­­7.4 million, or $0.14 per diluted share, compared with $4.7 million, or $0.09 per diluted share, in the third quarter 2014;
• Updated 2015 net income guidance to the range of $113 million to $118 million, compared with the previous guidance range of $108 million to $118 million; and
• The board of directors declared a quarterly dividend of 30 cents per share, or $1.20 per share on an annualized basis, payable on Dec. 1, 2015, to shareholders of record at the close of business on Nov. 13, 2015.

"Our focus is to continue serving our customers safely and reliably," said Pierce H. Norton II, president and chief executive officer. "We are on track with our capital investment plan, which demonstrates our commitment to pipeline system integrity. I want to thank our 3,400 employees who demonstrate our values and provide industry-leading customer service every day."

2015 FINANCIAL GUIDANCE UPDATED

ONE Gas 2015 net income is expected to be in the range of $113 million to $118 million, compared with its previously announced range of $108 million to $118 million. The updated guidance reflects lower operating and interest expenses, offset partially by lower net margin, compared with the guidance provided on Dec. 1, 2014.

Capital expenditures are still expected to be approximately $300 million in 2015. More than 70 percent of these expenditures are targeted for system integrity and replacement projects.

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

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