ONE GAS Reports Q2 FY2023 Earnings Results on June 30 2023
August 10, 2023
🌥️Earnings Overview
On June 30, 2023, ONE GAS ($NYSE:OGS) reported their earnings results for the second quarter of fiscal year 2023; total revenue was USD 398.1 million, a decrease of 7.2% from the same quarter in the prior year, and net income was USD 32.7 million, a 1.9% increase from the previous year.
Price History
On June 30th, 2023, ONE GAS released its second quarter financial results for FY2023. The stock opened on Monday at $79.9 and closed at $79.1, slightly down by 0.2% compared to the prior closing price of 79.3. The company’s cost-cutting initiatives also resulted in a lower operating cost compared to the previous quarter. In terms of individual divisions, the Natural Gas Distribution segment reported a revenue increase of 4% year-over-year as a result of the increased demand for natural gas as a fuel source.
The Midstream segment also had positive results, with a revenue increase of 7% year-over-year due to the increased demand for natural gas storage and transport services. Overall, investors have responded positively to the earnings report, with analysts projecting further growth in the second half of FY2023. ONE GAS remains confident they will continue to deliver long-term value to their investors, who have expressed their support of the company’s strategies. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for One Gas. More…
| Total Revenues | Net Income | Net Margin |
| 2.61k | 226.04 | 8.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for One Gas. More…
| Operations | Investing | Financing |
| 2.03k | -684.02 | -1.32k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for One Gas. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 7.34k | 4.68k | 47.88 |
Key Ratios Snapshot
Some of the financial key ratios for One Gas are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 20.2% | 6.8% | 14.3% |
| FCF Margin | ROE | ROA |
| 51.9% | 8.8% | 3.2% |
Analysis
At GoodWhale, we recently conducted an analysis of ONE GAS‘s financials. We assessed the company’s risk rating and concluded that ONE GAS is a low risk investment, as it holds an impressive financial and business standing. While we detected one risk warning in the income sheet, we encourage you to register with us to get further information about this warning. Our team is confident that ONE GAS presents minimal risk to potential investors. More…
Peers
Gas Inc is one of the world’s leading suppliers of natural gas. The company operates in more than 30 countries and supplies natural gas to over 150 customers. Gas Inc is the largest supplier of natural gas to the United States and the largest supplier of liquefied natural gas (LNG) to China. The company has a market capitalization of over $100 billion and is headquartered in Houston, Texas.
– Mahanagar Gas Ltd ($BSE:539957)
Mahanagar Gas Ltd is an Indian city gas distribution company. It is a joint venture between GAIL and the Government of Maharashtra. The company was incorporated in 1995 and is headquartered in Mumbai.
Mahanagar Gas Ltd has a market cap of 88.58B as of March 31st, 2022. The company has a Return on Equity of 12.43%. Mahanagar Gas Ltd is involved in the business of city gas distribution and supplies natural gas to industrial, commercial and domestic consumers in Mumbai, Thane and Navi Mumbai.
– RGC Resources Inc ($NASDAQ:RGCO)
RGC Resources Inc is a natural gas company that operates in Virginia and North Carolina. The company has a market cap of 240.64M as of 2022 and a Return on Equity of -13.92%. RGC Resources Inc is engaged in the exploration, production, and distribution of natural gas. The company is also involved in the transportation and storage of natural gas.
– Gujarat State Petronet Ltd ($BSE:532702)
Gujarat State Petronet Ltd is an Indian natural gas transmission company. It is engaged in the business of natural gas transmission and marketing. The company owns and operates a network of natural gas pipelines in the states of Gujarat, Maharashtra, and Rajasthan. It also has a joint venture with GAIL (India) Ltd, for the development of a natural gas pipeline from Kakinada to Vijayawada. The company has a market cap of 133.77B as of 2022 and a Return on Equity of 22.98%.
Summary
Investors interested in ONE GAS should take note of their second quarter earnings results for FY2023, reported on June 30, 2023. Total revenue decreased by 7.2%, but net income increased by 1.9% compared to the same quarter the previous year. Despite the decline in revenue, ONE GAS’s net income indicates that they continue to be financially successful. Investors may look to upcoming reports to get a better understanding of the company’s financial situation and make more informed investment decisions.
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