ONE Gas, Inc. (NYSE:OGS) Q3 2024 Earnings Conference Call November 5, 2024 11:00 AM ET

Company Participants

Erin Dailey – Director-Investor Relations
Sid McAnnally – President and Chief Executive Officer
Chris Sighinolfi – Senior Vice President and Chief Financial Officer
Curtis Dinan – Senior Vice President and Chief Operating Officer

Conference Call Participants

Paul Fremont – Ladenburg
Christopher Jeffrey – Mizuho Securities
Jamieson Ward – Jefferies

Operator

Good day, and welcome to the ONE Gas Third Quarter Earnings Conference Call and Webcast. Today's conference is being recorded.

At this time, I would like to turn the conference over to Erin Dailey. Please go ahead, Ms. Dailey.

Erin Dailey

Thank you, Elliot. Good morning, everyone, and thank you for joining us on our third quarter 2024 earnings conference call. This call is being webcast live, and a replay will be available later today. After our prepared remarks, we're happy to take your questions. Statements made during this call that might include ONE Gas expectations or predictions should be considered forward-looking statements and are covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Securities Act of 1933 and the Securities and Exchange Act of 1934, each as amended. Actual results could differ materially from those projected in any forward-looking statements. For a discussion of factors that could cause actual results to differ, please refer to our SEC filings.

Joining us on the call this morning are Sid McAnnally, President and Chief Executive Officer; Chris Sighinolfi, Senior Vice President and Chief Financial Officer; and Curtis Dinan, Senior Vice President and Chief Operating Officer.

And now I'll turn the call over to Sid.

Sid McAnnally

Thanks, Erin, and good morning, everyone. Thank you for joining us and for your interest in ONE Gas. We again delivered quarterly results in line with our expectations, thanks to company-wide efforts and constructive regulatory outcomes. Operational execution and an improved interest rate environment have given us the opportunity to both raise and narrow our financial guidance for 2024, all while preserving a strong balance sheet. We now expect EPS to be in the range of $3.85 to $3.95, $0.05 higher at the midpoint than our original guidance.

We still anticipate capital expenditures of $750 million this year. We've also completed a year of significant regulatory activity, including the conclusion of our Kansas rate case and the settlement of our Central-Gulf rate case in Texas, which Curtis will speak to in a few moments. Both cases resulted in constructive settlements, which allow us to recoup investments we've made in our system and earn a fair rate of return on the equity embedded in our capital structure.