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One Gas posts rise in Q4, FY'17 earnings on new rates, higher volumes

One Gas Inc. on Feb. 21 reported net income of $47.1 million, or 89 cents per share, in the 2017 fourth quarter, compared with $42.3 million, or 80 cents per share, a year earlier.

Revenue was $462.4 million, compared with $440.8 million in the year-ago quarter. Net margin was $252.4 million, versus $243.4 million a year ago.

For the full year, One Gas reported net income of $163.0 million, or $3.08 per share, compared with $140.1 million, or $2.65 per share, the prior year.

One Gas attributed the increases in fourth-quarter and full-year 2017 earnings to new rates in Texas and Kansas and higher transportation volumes in Kansas and Oklahoma, among other factors.

One Gas forecast its 2018 net income to be in the range of $156 million to $168 million, or $2.96 per share to $3.20 per share. The S&P Global Market Intelligence estimate for 2018 net income is $3.13 per share.