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.
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
Ownership (Institutional/ Fund Holdings)
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Income Statement Reports (Yearly/ Quarterly/ LTM)
Cash Flow Snapshot
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Cash Flow Supplement
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Balance Sheet (Yearly/ Quarterly)
Balance Sheet Supplement
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Key Ratios Snapshot
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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…
Risk Rating Analysis
Star Chart Analysis
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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.