One Gas Inc. on July 27 reported net income of $25.3 million, or 48 cents per share, in the second quarter, an increase from $24.5 million, or 46 cents per share, in the prior-year period.
The S&P Capital IQ consensus estimate for normalized EPS for the second quarter was 46 cents.
Total revenue was $273.3 million, versus $290.6 million in the year-ago quarter. Net margin was $210.8 million, an increase from $208.0 million a year ago.
One Gas reaffirmed its 2020 financial guidance for net income of $186 million to $198 million, or $3.44 to $3.68 per diluted share. Capital expenditures are now expected to be in the range of $500 million to $525 million for 2020, an increase from $475 million, driven primarily by extending service to new customers.
One Gas provides natural gas distribution services to more than 2 million customers in Oklahoma, Kansas and Texas.