ONE Gas Inc. OGS reported third-quarter 2020 earnings of 39 cents per share, beating the Zacks Consensus Estimate of 36 cents by 8.3%.The bottom line also improved 18.2% from the year-ago earnings, primarily owing to new rates in Kansas and Oklahoma, and residential customer growth.Total RevenuesThe company recorded revenues of $244.6 million in the third quarter, which missed the Zacks Consensus Estimate of $267.3 million by 8.5%. The top line also declined 1.6% from the year-ago level.ONE Gas, Inc. Price, Consensus and EPS Surprise ONE Gas, Inc. price-consensus-eps-surprise-chart | ONE Gas, Inc. QuoteQuarterly HighlightsNatural gas sales volume delivered in the reported quarter was 12.1 billion cubic feet (Bcf), up 0.8% year over year, primarily on higher residential customer usage. Total volumes delivered in the same period were 61.7 Bcf, up 3% from the year-ago period.Total operating expenses in the reported quarter increased 2.1% from the year-ago figure to $163.5 million.Operating income in the reported quarter improved 4.9% year over year to $40.7 million.In the third quarter of 2020, the company’s customer base rose 1.4% from the year-ago time frame, which aided its both top and the bottom line.The company incurred net interest expenses of $15.5 million, down 1.5% from the prior-year figure.Financial HighlightsAs of Sep 30, 2020, ONE Gas had cash and cash equivalents of $6.2 million compared with $17.9 million at the end of 2019.Long-term debt (excluding current maturities) was $1,582.2 million as of Sep 30, 2020, compared with $1,286.1 million as of Dec 31, 2019.Cash provided by operating activities in first nine months of 2020 was $325.3 million compared with $288.5 million in the year-ago period.GuidanceONE Gas expects its 2020 net income to be near the upper end of the guidance range of $186-$198 million. Its annual earnings per share outlook is projected in the $3.44-$3.68 band. The midpoint of the EPS guidance is $3.56, marginally lower than the current Zacks Consensus Estimate of $3.57 for the period.Capital expenditure still expected to be in the range of $500 million to $525 million for 2020.Zacks RankCurrently, ONE Gas carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Upcoming ReleasesSempra Energy SRE is slated to release third-quarter 2020 earnings on Nov 5. The Zacks Consensus Estimate for the period’s earnings per share is pegged at $1.47.Atmos Energy Corporation ATO is scheduled to release fourth-quarter fiscal 2020 results on Nov 11. The Zacks Consensus Estimate for the period’s earnings per share is pegged at 52 cents.Peer ResultONEOK Inc OKE posted third-quarter 2020 operating earnings of 70 cents per share, beating the Zacks Consensus Estimate of 59 cents by 18.6%.Legal Marijuana: An Investor’s DreamImagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027. Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Sempra Energy (SRE): Free Stock Analysis Report ONEOK, Inc. (OKE): Free Stock Analysis Report Atmos Energy Corporation (ATO): Free Stock Analysis Report ONE Gas, Inc. (OGS): Free Stock Analysis Report To read this article on Zacks.com click here.