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ONE Gas lifts 2026 adjusted earnings view as rate and bill benefits add revenue
The company expects 2026 adjusted net income of $310 million to $314 million, and Texas House Bill 4384 is projected to add about $0.42 to adjusted EPS.
ONE Gas reported that performance in the first half of 2026 was driven by execution across regulated jurisdictions, with adjusted EPS rising 16% despite weather that was 25% warmer than normal, according to a Yahoo Finance earnings-call summary.
Management said results reflected about $16 million in new revenue from rate updates and significant benefits from Texas House Bill 4384, which allows the company to defer depreciation and ad-valorem taxes, helping support customer affordability as it targets average bills staying flat year over year.
The company also cited rising demand for gas-fired generation, data centers, and advanced manufacturing as expanding opportunities to serve large load customers. It highlighted operational efficiency gains from in-sourcing line locating and its “Watch and Protect” functions, aimed at improving safety and system integrity while managing O&M costs.
ONE Gas raised its expectations for full-year 2026 adjusted earnings to the upper end of its guidance range, targeting $310 million to $314 million in adjusted net income. The outlook assumes continued Texas House Bill 4384 benefits, expected to contribute about $0.42 to full-year adjusted EPS, and it projects long-term O&M expense growth of 3% to 4%.