ONE Gas is a regulated natural gas distribution utility serving residential, commercial, and industrial customers in Oklahoma, Kansas, and Texas. It owns and operates local pipeline and distribution systems that deliver gas under state-regulated rate frameworks. The business model centers on safe, reliable last-mile delivery rather than large-scale production or interstate marketing.
| Quarter | Revenue | YoY % | Earnings | YoY % |
|---|---|---|---|---|
| Q1 2025 | 935.2 | — | 119.4 | 20.7% |
| Q2 2025 | 423.7 | — | 32 | 18% |
| Q3 2025 | 379.1 | — | 26.5 | 37.4% |
| Q4 2025 | 689.4 | — | 86.3 | 13.7% |
| Q1 2026 | 831.7 | -11.1% | 128.7 | 7.8% |
| Q2 2026 | 411.6 | -2.9% | 46.8 | 46.1% |
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