ONE Gas, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 21, 2024 at 04:20 pm EST
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ONE Gas, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 605.92 million compared to USD 818.21 million a year ago. Net income was USD 70.73 million compared to USD 67.03 million a year ago. Basic earnings per share from continuing operations was USD 1.27 compared to USD 1.23 a year ago. Diluted earnings per share from continuing operations was USD 1.27 compared to USD 1.23 a year ago.
For the full year, sales was USD 2,371.99 million compared to USD 2,578.01 million a year ago. Net income was USD 231.23 million compared to USD 221.74 million a year ago. Basic earnings per share from continuing operations was USD 4.16 compared to USD 4.09 a year ago. Diluted earnings per share from continuing operations was USD 4.14 compared to USD 4.08 a year ago.
ONE Gas, Inc. is a regulated natural gas distribution utility in the United States. The Company operates through a single segment, regulated public utilities, which delivers natural gas to residential, commercial and transportation customers. The Company provides natural gas distribution services to approximately 2.3 million customers. The Company has three divisions: Oklahoma Natural Gas, Kansas Gas Service and Texas Gas Service. It primarily serves residential, commercial and transportation customers in all three states. The Companyâs natural gas distribution markets in terms of customers are Oklahoma City and Tulsa, Oklahoma; Kansas City, Wichita and Topeka, Kansas; and Austin and El Paso, Texas. It distributes natural gas to approximately 89%, 71% and 13% of the natural gas distribution customers in Oklahoma, Kansas and Texas, respectively.