Guidance

2022 Financial Guidance

ONE Gas expects 2022 net income to be in the range of $215 million to $227 million, with earnings per diluted share of $3.96 to $4.20. The midpoint of 2022 guidance is net income of $221 million and earnings per diluted share of $4.08. ONE Gas’ 2022 earnings guidance includes the benefit of new rates and customer growth, offset by higher operating expenses, including depreciation expense from capital investments, and assumes normal weather.

Capital investments, including asset removal costs, are expected to be approximately $650 million in 2022, a 20% increase from 2021. Over 65% of these expenditures are targeted for system integrity and replacement projects. Capital investments for extensions to new customers are expected to be approximately $190 million, an increase of over 25% from 2021, primarily due to significant growth opportunities in Texas and Oklahoma. The anticipated average rate base for 2022 is $4.64 billion, calculated consistent with utility ratemaking in each jurisdiction.

Guidance estimates may be impacted by the variables listed in the forward-looking statements. For additional information that could cause actual results to differ materially from such forward-looking statements, refer to ONE Gas’ Securities and Exchange Commission filings.

2022 Guidance Investor Presentation

2022 Guidance News Release