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Oneok Inc (OKE)
NYSE:OKE
Earnings Data
Report Date
May 05, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.35Last Year’s EPS
1.04Same Quarter Last Year
Moderate Buy
Based on 11 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicates strong operational execution and financial progress — double-digit earnings growth, significant synergy capture (~$500M realized), major projects on track, meaningful debt reduction and robust shareholder returns — while being candid about near-term headwinds from lower commodity prices, tightened spreads, weather impacts and some delayed third-party volumes. Management’s guidance is conservative but supported by identifiable growth projects and incremental synergies, and the company emphasizes durable, fee-based earnings and long-term optionality.Company Guidance
Strong Full-Year Financial Performance
Net income attributable to ONEOK, Inc. increased 12% year-over-year to $3.39B in 2025 (earnings $5.42/share). Adjusted EBITDA rose 18% to $8.02B, marking twelve consecutive years of adjusted EBITDA growth and a 17% average annual earnings growth rate over the period.
Material Synergy Realization from Acquisitions
Nearly $500M of total synergies realized since the Magellan acquisition (Sept 2023), including approximately $250M captured in 2025 alone; an incremental $150M of acquisition synergies is included in 2026 guidance.
Balanced, Fee-Based Earnings Mix and Durability
High-quality earnings mix with ~90% fee-based earnings, limiting commodity exposure and supporting valuation durability and capital allocation flexibility.
Balance Sheet Strength and Shareholder Returns
Retired nearly $3.1B of long-term debt in 2025 (including >$1.75B senior notes retired in Q4), returned nearly $2.7B to shareholders via dividends and share repurchases, and increased the quarterly dividend by 4%.
2026 Guidance with Visible Growth Drivers
2026 guidance midpoint: adjusted EBITDA ~$8.10B and net income ~$3.45B (~+1% and ~+1.8% vs. 2025, respectively). Guidance backed by volume growth, completed/near-complete projects and $150M incremental synergies; management cites daily EBITDA run-rate of ~$22M.
Major Project and Capacity Additions Underway
Large projects on track: Shadowfax plant (150 MMcf/d) expected in service end of Q1 2026; Delaware expansions totaling 110 MMcf/d expected early Q3 2026; Denver pipeline expansion mid-Q3 2026; Medford fractionator Phase 1 adding ~100k bpd by Q4 2026 (Phase 2 +110k bpd in 2027); Bighorn Processing Plant mid-2027.
Commercial Momentum and Permian Strength
Permian processing and NGL volumes increased significantly in 2025; natural gas pipeline segment exceeded guidance, benefitting from strategic Gulf Coast positioning. EAGLE FORD GULF COAST JV expansion to 3.7 Bcf/d is fully contracted for a minimum of ten years.
Long-Term Resource Visibility
Bakken dedicated acreage has ~5,000 identified wells yet to be drilled (at current rig rates ~15+ years of inventory), providing multi-year visibility for growth.
OKE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
OKE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 23, 2026 | $87.33 | $82.89 | -5.08% |
Oct 28, 2025 | $67.12 | $65.27 | -2.75% |
Aug 04, 2025 | $77.54 | $73.53 | -5.17% |
Apr 29, 2025 | $83.22 | $77.82 | -6.49% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Oneok Inc (OKE) report earnings?
Oneok Inc (OKE) is schdueled to report earning on May 05, 2026, After Close (Confirmed).
What is Oneok Inc (OKE) earnings time?
Oneok Inc (OKE) earnings time is at May 05, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is OKE EPS forecast?
OKE EPS forecast for the fiscal quarter 2026 (Q1) is 1.35.