ONE Gas (NYSE: OGS) reported Q1 EPS of $1.76, $0.03 better than the analyst estimate of $1.73.

• First-quarter 2019 net income was $93.7 million, or $1.76 per diluted share, compared with $90.8 million, or $1.72 per diluted share, in the first quarter 2018;
• Actual heating degree days across the company\'s service areas were 5,831 in the first quarter 2019, 10% colder than normal and 11% colder than the same period last year; and
• The board of directors declared a quarterly dividend of $0.50 per share, or $2.00 per share on an annualized basis, payable May 31, 2019, to shareholders of record at the close of business on May 15, 2019.

"Our first-quarter results were supported by new rates, colder weather and customer growth," said Pierce H. Norton II, president and chief executive officer. "We continue to focus on successful execution of our capital plan, which includes significant investments in safety and reliability, and on efficient operations."

GUIDANCE:

ONE Gas sees FY2019 EPS of $3.27-$3.57, versus the consensus of $3.45.

• ONE Gas affirmed its 2019 financial guidance, with net income expected to be in the range of $174 million to $190 million, or approximately $3.27 to $3.57 per diluted share.
• Capital expenditures, including asset removal costs, are expected to be $450 million in 2019, with approximately 70% of these expenditures targeted for system integrity and replacement projects.
• Rate base in 2019 is expected to average $3.6 billion, with 42% in Oklahoma, 29% in Kansas and 29% in Texas. ONE Gas expects to achieve an 8.3% return on equity in 2019, which is calculated consistent with utility ratemaking in each jurisdiction.

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