The raised guidance and strong regulatory wins (Texas GRIP, Kansas GSRS filing) support a positive outlook for OGS. Monitor the Oklahoma PBRC appeal outcome and upcoming Q3 earnings for continued execution on rate cases and customer growth.
Price Chart
Executive Summary
ONE Gas reported Q2 2026 adjusted EPS of $0.82, significantly above the $0.64 consensus, and raised its full-year 2026 adjusted earnings guidance to the upper half of the $4.83-$4.95 range. The beat was driven by new rate revenues and lower interest expense, partially offset by warmer weather and higher operating costs. The raised guidance and strong regulatory outcomes are positive signals for the regulated utility's earnings trajectory.
Key Financial Metrics
Key Facts
- Q2 2026 adjusted EPS of $0.82 vs $0.54 YoY, beating consensus of $0.64 by 28.1%
- Raised 2026 adjusted EPS guidance to upper half of $4.83-$4.95 range
- Q2 2026 GAAP net income $46.8M vs $32.0M YoY
- Operating income increased to $82.7M from $71.9M YoY, driven by $16.4M in new rate revenue
- Texas GRIP filing approved for $36.9M revenue increase effective July 2026
- Quarterly dividend declared at $0.68/share ($2.72 annualized), up from $0.67 YoY
- Capital expenditures of $188.3M in Q2, on track for ~$800M full-year target
Financial Impact
Q2 adjusted EPS beat consensus by $0.18 (28.1%); full-year guidance raised to upper half of $4.83-$4.95 range, implying ~$310M adjusted net income midpoint
Risk Factors
- Weather remains warmer than normal, pressuring volumes despite normalization mechanisms
- Oklahoma PBRC rate case faces an appeal to the Oklahoma Supreme Court, creating regulatory uncertainty
- Higher employee-related costs and outside services are compressing operating margin
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302842819 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 25, 2026 4w ago | 8-K | $71.66 $78.36 | ▲ +9.35% | ▲ +9.38% | $78.36 (+9.35%) |
Aug 4, 2026 11w ago | Press Release | $79.25 $79.95 | ▲ +0.88% | ▲ +1.48% | $78.36 (−1.12%) |
Jul 8, 2026 15w ago | Press Release | $78.83 $79.62 | ▲ +1.00% | ▼ −1.24% | $78.36 (−0.60%) |
May 26, 2026 21w ago | 8-K | $81.35 $78.63 | ▼ −3.34% | ▼ −1.44% | $78.36 (−3.68%) |
May 12, 2026 23w ago | 8-K | $83.95 $76.09 | ▼ −9.36% | ▼ −8.75% | $78.36 (−6.66%) |
May 4, 2026 25w ago | 8-K | $86.69 $77.47 | ▼ −10.64% | ▼ −15.59% | $78.36 (−9.61%) |
May 1, 2026 25w ago | DEFA14A | $88.82 $76.02 | ▼ −14.41% | ▼ −20.06% | $78.36 (−11.78%) |
Apr 7, 2026 28w ago | 8-K | $89.83 $86.69 | ▼ −3.50% | ▼ −12.04% | $78.36 (−12.77%) |
Feb 24, 2026 34w ago | 8-K | $85.77 $85.22 | ▼ −0.64% | ▲ +4.59% | $78.36 (−8.64%) |
US Market Status
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