ONE Gas (NYSE: OGS) reported Q4 EPS of $0.89, in-line with the analyst estimate of $0.89.

Highlights include:

• Fourth-quarter 2017 net income increased to $47.1 million, or $0.89 per diluted share, compared with $42.3 million, or $0.80 per diluted share, in the fourth quarter 2016;
• Full-year 2017 net income also increased to $163.0 million, or $3.08 per diluted share, compared with $140.1 million, or $2.65 per diluted share, in 2016;
• Full-year 2017 results include a $0.10 per share contribution from adoption of the share- based compensation accounting standard in the first quarter of 2017. Full-year 2017 and fourth-quarter 2017 results include a $0.07 per share contribution from the accounting authority order approved by the Kansas Corporation Commission and a $0.04 per share negative impact from federal tax reform;
• Full-year 2017 capital expenditures were $356.4 million, compared with $309.0 million in 2016;
• On Jan. 16, 2018, the company increased its quarterly dividend 4 cents to 46 cents per share, or $1.84 per share on an annualized basis, payable on Mar. 9, 2018, to shareholders of record at close of business Feb. 23, 2018; and
• On Jan. 16, 2018, the company announced that its 2018 net income is expected to be in the range of $156 million to $168 million, or $2.96 to $3.20 per diluted share.

2018 FINANCIAL GUIDANCE

On Jan. 16, 2018, ONE Gas announced that its 2018 net income is expected to be in the range of $156 million to $168 million, or $2.96 to $3.20 per diluted share.

Capital expenditures are expected to be $375 million in 2018, with 70 percent of these expenditures targeted for system integrity and replacement projects.

Rate base in 2018 is expected to average $3.4 billion, with 42 percent in Oklahoma, 30 percent in Kansas and 28 percent in Texas. ONE Gas expects to achieve a 7.3 percent return on equity in 2018, which is calculated consistent with utility ratemaking in each jurisdiction.

GUIDANCE:

ONE Gas sees FY18 2018 EPS of $2.96-$3.20, versus the consensus of $3.12.

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