Why Is ONE Gas (OGS) Up 7.7% Since Last Earnings Report?

04.12.24 17:30 Uhr

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It has been about a month since the last earnings report for ONE Gas (OGS). Shares have added about 7.7% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is ONE Gas due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. ONE Gas Q3 Earnings Lag Estimates, Revenues Rise Y/YONE Gas, Inc. reported third-quarter 2024 operating earnings per share (EPS) of 34 cents, which lagged the Zacks Consensus Estimate of 41 cents by 17.1%. The figure also came in 24.4% lower than the year-ago quarter’s earnings of 45 cents per share.OGS’ RevenuesONE Gas recorded revenues of $340.4 million, which missed the Zacks Consensus Estimate of $363 million by 6.3%. However, the top line increased 1.4% from $335.8 million in the prior-year quarter.Highlights of the ReleaseTotal natural gas volumes delivered were 59.8 billion cubic feet, down 6.9% on a year-over-year basis. OGS served 2,272,000 customers, up 0.9% year over year.Total operating expenses were $221.3 million, up 6.6% year over year. The upside was due to a rise in operations and maintenance, and depreciation and amortization expenses.Operating income increased 3.9% year over year to $59.4 million.OGS incurred net interest expenses of $39.1 million, up 40% on a year-over-year basis.OGS’ Financial HighlightsAs of Sept. 30, OGS had cash and cash equivalents of $18.8 million compared with $18.84 million as of Dec. 31, 2023.Total long-term debt (excluding current maturities) was $2.38 billion as of Sept. 30, compared with $2.16 billion as of Dec 31. 2023.Cash provided by operating activities in the first nine months of 2024 was $305.8 million compared with $842.5 million in the year-ago quarter.Capital expenditures and asset removal costs were $197.7 million compared with $184.3 million in the year-earlier quarter.OGS’ 2024 GuidanceManagement raised and narrowed its financial guidance, with 2024 net income expected in the range of $219-$226 million compared with the previous range of $214-$231. Earnings per diluted share are expected in the range of $3.85-$3.95 per share compared with the previous range of $3.70-$4.00 per share. The Zacks Consensus Estimate for earnings is pegged at $3.86 per share, lower than the mid-point of the company’s guided range.OGS continues to expect capital expenditures, including asset removal costs, of $750 million. How Have Estimates Been Moving Since Then?In the past month, investors have witnessed an upward trend in estimates revision.VGM ScoresAt this time, ONE Gas has a poor Growth Score of F, however its Momentum Score is doing a lot better with an A. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, ONE Gas has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ONE Gas, Inc. (OGS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks

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Analysen zu ONE Gas Inc

DatumRatingAnalyst
02.10.2017ONE Gas SellUBS AG
18.11.2016ONE Gas NeutralSeaport Global Securities
22.06.2016ONE Gas HoldBB&T Capital Markets
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DatumRatingAnalyst
18.11.2016ONE Gas NeutralSeaport Global Securities
22.06.2016ONE Gas HoldBB&T Capital Markets
DatumRatingAnalyst
02.10.2017ONE Gas SellUBS AG

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