We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
ONE Gas (OGS) Q2 Earnings Surpass Estimates, 2018 View Up
Read MoreHide Full Article
ONE Gas, Inc. (OGS - Free Report) posted second-quarter 2018 operating earnings of 39 cents per share, beating the Zacks Consensus Estimate of 32 cents by 21.9%. Earnings in the second quarter were positive impacted by colder-than-normal weather and new rates in its service territories.
Total Revenues
Total revenues of $292.5 million surpassed the Zacks Consensus Estimate of $275 million by 6.4%. Total revenues improved 4.6% from $279.9 million in the prior-year quarter.
Total operating expenses in the reported quarter increased 5.8% to $157.3 million from the year-ago quarter, due to increase in operating and maintenance expenses, and general taxes.
In the second quarter, the company served 12,000 more customers than the comparable year-ago period, primarily due to an increase in the residential customer base.
Operating income in the reported quarter was down 15.1% year over year to $41.1 million.
The company incurred interest expenses of $12.0 million, up 6.2% from the year-ago period.
Financial Highlights
On Jun 30, 2018, ONE Gas had cash and cash equivalents of $12.58 million compared with $14.4 million as of Dec 31, 2017.
Long-term debt (excluding current maturities) was $893.7 million as of Jun 30, 2018, down from the Dec 31, 2017 level of $1,193.3 million.
The company’s cash flow from operating activities in the first half of 2018 was $399.9 million, up from $279.3 million recorded in the first half of 2017.
Guidance
ONE Gas now expects its 2018 net income in the range of $167-178 million (versus earlier guided range of $156-$168 million) and earnings per share within $3.15-$3.35 (prior expectation was $2.96-$3.20). The upward revision in guidance takes into consideration the positive impact of colder-than-normal weather and higher transport volumes.
ONE Gas now expects its 2018 capital expenditure in the range of $375-$390 million (versus earlier projection of $370 million), with 70% of it directed toward the system integrity and replacement projects.
Upcoming Releases
Atmos Energy Corporation (ATO - Free Report) is expected to report third-quarter fiscal 2018 earnings on Aug 8, 2018. The Zacks Consensus Estimate is pegged at 68 cents.
Chesapeake Utilities Corporation (CPK - Free Report) is expected to announce second-quarter 2018 results on Aug 9, 2018. The Zacks Consensus Estimate is pegged at 49 cents.
Just Energy is expected to report first-quarter fiscal 2019 earnings on Aug 8, 2018. The Zacks Consensus Estimate stands at 8 cents.
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
Image: Bigstock
ONE Gas (OGS) Q2 Earnings Surpass Estimates, 2018 View Up
ONE Gas, Inc. (OGS - Free Report) posted second-quarter 2018 operating earnings of 39 cents per share, beating the Zacks Consensus Estimate of 32 cents by 21.9%. Earnings in the second quarter were positive impacted by colder-than-normal weather and new rates in its service territories.
Total Revenues
Total revenues of $292.5 million surpassed the Zacks Consensus Estimate of $275 million by 6.4%. Total revenues improved 4.6% from $279.9 million in the prior-year quarter.
ONE Gas, Inc. Price, Consensus and EPS Surprise
ONE Gas, Inc. Price, Consensus and EPS Surprise | ONE Gas, Inc. Quote
Quarterly Highlights
Total operating expenses in the reported quarter increased 5.8% to $157.3 million from the year-ago quarter, due to increase in operating and maintenance expenses, and general taxes.
In the second quarter, the company served 12,000 more customers than the comparable year-ago period, primarily due to an increase in the residential customer base.
Operating income in the reported quarter was down 15.1% year over year to $41.1 million.
The company incurred interest expenses of $12.0 million, up 6.2% from the year-ago period.
Financial Highlights
On Jun 30, 2018, ONE Gas had cash and cash equivalents of $12.58 million compared with $14.4 million as of Dec 31, 2017.
Long-term debt (excluding current maturities) was $893.7 million as of Jun 30, 2018, down from the Dec 31, 2017 level of $1,193.3 million.
The company’s cash flow from operating activities in the first half of 2018 was $399.9 million, up from $279.3 million recorded in the first half of 2017.
Guidance
ONE Gas now expects its 2018 net income in the range of $167-178 million (versus earlier guided range of $156-$168 million) and earnings per share within $3.15-$3.35 (prior expectation was $2.96-$3.20). The upward revision in guidance takes into consideration the positive impact of colder-than-normal weather and higher transport volumes.
ONE Gas now expects its 2018 capital expenditure in the range of $375-$390 million (versus earlier projection of $370 million), with 70% of it directed toward the system integrity and replacement projects.
Upcoming Releases
Atmos Energy Corporation (ATO - Free Report) is expected to report third-quarter fiscal 2018 earnings on Aug 8, 2018. The Zacks Consensus Estimate is pegged at 68 cents.
Chesapeake Utilities Corporation (CPK - Free Report) is expected to announce second-quarter 2018 results on Aug 9, 2018. The Zacks Consensus Estimate is pegged at 49 cents.
Just Energy is expected to report first-quarter fiscal 2019 earnings on Aug 8, 2018. The Zacks Consensus Estimate stands at 8 cents.
Zacks Rank
ONE Gas currently has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>