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ONE Gas, Inc.
2/22/2024
At this time, I would like to turn the conference over to Chris Signofi. Please go ahead, Mr. Signofi.
Good morning, and thank you for joining us on our fourth quarter and year-end 2023 earnings conference call. This call is being webcast live, and a replay will be available later today. After our prepared remarks, we are happy to take your questions. A reminder that 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 me on the call this morning are Sid McAnally, President and Chief Executive Officer, and Curtis Dinan, Senior Vice President and Chief Operating Officer. And now I'll turn the call over to Sid.
Thanks, Chris, and good morning, everyone. This year we celebrate 10 years as an independent company and 118 years since the founding of Oklahoma Natural Gas in 1906. We've experienced remarkable growth in the 10 years since our spinoff from One Oak, including the addition of 230,000 new customer meters, installing over 6,000 miles of new pipe across our system, and doubling our earnings per share. We've deployed best practices and lessons learned over our 118 year history to enhance our system, support customer growth, and reliably deliver natural gas that our customers depend on. We've also invested in our workforce, allowing us to achieve excellence in both capital execution and safety leading to six consecutive years of recognition by the American Gas Association for having the lowest rate of significant injuries amongst our peers. With service territories that continue to benefit from population in-migration, focused economic development, and access to affordable energy, we look forward to building upon our strong track record in the years and decades to come. Turning to our fourth quarter results, We again delivered earnings and capital execution as projected in our guidance, despite the challenges posed by macroeconomic conditions. To put this achievement in context, when we became a standalone company 10 years ago, we deployed a total of $262 million in core capital. Last year, we spent over $725 million, almost three times our first year total, to serve our customers and communities. Our teams also fulfilled our service commitment as we faced winter storm Jerry last month. Despite temperatures being colder than those experienced during winter storm Yuri in 2021, our teams kept gas flowing to our 2.3 million customers. We experienced limited outages affecting only 200 customers with service restored to most within hours and did not have any vehicular accidents or severe injuries. This performance is a testament to the focus of our co-workers and to the investments we've made following Winter Storm URI three years ago. With that, I'll turn it over to Chris to discuss financial details for the quarter and the year. Chris?
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