net income $46.8M. ONE Gas Q2 2026: Operating income +15.1% on new rates; Texas HB 4384 now in effect

Filed August 5, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 6, 2025 · ~2 min read

Key Changes

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  Operating income rose 15% YoY to $82.7M (Q2) and 8% to $272.2M (H1) on new rates and customer growth, though new-rate contribution slowed from $21.1M to $16.4M (Q2) and $73.0M to $43.7M (H1) as prior-year rate cases cycle through.

  MD&A: Operating Income verify on EDGAR →
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  Texas HB 4384 carrying-cost deferral now operational, allowing recovery of depreciation, ad valorem taxes, and carrying costs on capex placed in service but not yet in rates; deferred carrying cost rose from $0.7M to $5.3M (Q2) and $1.3M to $10.0M (H1).

  MD&A: Texas HB 4384 Implementation verify on EDGAR →
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  Oklahoma PBRC filing requests $28.7M base rate increase (down from $41.5M in 2025) but faces exceptions and Oklahoma Supreme Court appeal after administrative law judge recommended approval; interim rates effective June 26, 2026.

  MD&A: Oklahoma PBRC Application verify on EDGAR →