2023 Financial Guidance

ONE Gas expects 2023 net income to be in the range of $224 million to $238 million, with earnings per diluted share of $4.02 to $4.26. The midpoint of 2023 guidance is net income of $231 million and earnings per diluted share of $4.14. ONE Gas’ 2023 earnings guidance includes the benefit of new rates and customer growth, partially offset by higher operating expenses, including employee-related and contractor costs, depreciation expense from capital investments, and interest expense due to higher interest rates and working capital needs.  

Capital investments, including asset removal costs, are expected to be approximately $675 million in 2023, primarily targeted for system integrity and replacement projects. Capital investments for extensions to new customers are expected to be approximately $185 million, primarily as a result of continued growth opportunities in Texas and Oklahoma. The anticipated average rate base for 2023 is $5.15 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. 

2023 Guidance Investor Presentation

2023 Guidance News Release