Third Quarter 2025 Results October 2025 Forward-Looking Statements Statements contained in this presentation regarding company expectations, outlooks, targets, predictions and other similar statements should be considered forward-looking statements that are covered by the safe harbor protections provided under federal securities legislation and other applicable laws. See a discussion of the factors that could affect such forward- looking statements at the end of this presentation. This presentation contains ...

Oneok Inc. (OKE) came out with quarterly earnings of $1.49 per share, beating the Zacks Consensus Estimate of $1.46 per share. This compares to earnings of $1.18 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +2.05%. A quarter ago, it was expected that this natural gas company would post earnings of $1.34 per share when it actually produced earnings of $1.34, delivering no surprise.Over the last four quarters, the company has ...

Financial Performance - Third quarter 2025 net income reached $940 million, or $1.49 per diluted share, compared to $693 million, or $1.18 per diluted share in the same quarter of 2024[6][7]. - Adjusted EBITDA for the third quarter 2025 was $2.12 billion, up from $1.545 billion in the third quarter of 2024, reflecting a significant increase driven by acquisitions and higher processing volumes[6][12]. - ONEOK reported total revenues of $8.634 billion for Q3 2025, a significant increase from $5.023 billion in Q3 2024, representing a year-over-year growth of approximately 72.5%[40]. - The company's net income for Q3 2025 was $940 million, compared to $693 million in Q3 2024, reflecting a growth of about 35.7%[40]. - ONEOK's operating income for Q3 2025 was $1.558 billion, compared to $1.128 billion in Q3 2024, reflecting a growth of about 38.1%[40]. - ONEOK reported a net income of $2,484 million for the nine months ended September 30, 2025, compared to $2,112 million for the same period in 2024, representing a 17.6% increase[44]. - Adjusted EBITDA for the nine months ended September 30, 2025, was $5,875 million, up from $4,610 million in 2024, reflecting a 27.4% growth[47]. - Cash provided by operating activities for the nine months ended September 30, 2025, was $4,053 million, compared to $3,277 million in 2024, a 23.6% increase[44]. Capital Expenditures and Investments - ONEOK's capital expenditures for the third quarter 2025 totaled $804 million, compared to $468 million in the same quarter of 2024[7]. - Capital expenditures for the nine months ended September 30, 2025, were $524 million, down from $785 million in 2024, indicating a 33.3% decrease[46]. - The company announced plans to construct the Bighorn natural gas processing plant, with a capacity of 300 MMcf/d, expected to be completed by mid-2027[10]. - ONEOK entered into a joint venture to build the Eiger Express Pipeline, a 450-mile natural gas pipeline from the Permian Basin to Katy, Texas[10]. Shareholder Returns - The company declared a quarterly dividend of $1.03 per share, or $4.12 per share annualized, reflecting a commitment to returning value to shareholders[15]. - In the third quarter of 2025, ONEOK repurchased $119 million of senior notes for an aggregate repurchase price of $96 million[15]. Liquidity and Financial Position - As of September 30, 2025, ONEOK had approximately $1.2 billion in cash and cash equivalents, with no borrowings outstanding under its credit agreement or commercial paper program[10]. - Total current liabilities increased to $5,735 million as of September 30, 2025, from $4,719 million at the end of 2024, marking a 21.5% rise[43]. - ONEOK's total equity as of September 30, 2025, was $22,157 million, slightly up from $22,133 million at the end of 2024[43]. - The company’s long-term debt, excluding current maturities, stood at $31,986 million as of September 30, 2025, compared to $31,018 million at the end of 2024, reflecting a 3.1% increase[43]. Operational Highlights - The Rocky Mountain region saw a 17% increase in NGL raw feed throughput volumes, while the Mid-Continent region experienced a 6% increase[6]. - Natural gas processed increased to 5,852 MMcf/d for the three months ended September 30, 2025, compared to 2,410 MMcf/d in 2024, a significant increase[46]. - ONEOK's refined products volume shipped was 1,526 MBbl/d for the three months ended September 30, 2025, down from 1,580 MBbl/d in 2024, a decrease of 3.4%[46]. - The company continues to focus on expanding its energy infrastructure and services to meet growing domestic and international energy demands[31]. Guidance and Future Outlook - The company affirmed its full-year 2025 net income and adjusted EBITDA guidance ranges, indicating confidence in ongoing performance[3]. - Adjusted EBITDA guidance for 2025 has been affirmed, indicating strong financial performance expectations moving forward[36]. - The company affirmed its 2025 net income and adjusted EBITDA guidance ranges, indicating confidence in future performance[44].

, /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) today announced higher third quarter 2025 results and affirmed full-year 2025 net income and adjusted EBITDA guidance ranges. Higher Third Quarter 2025 Results, Compared With Third Quarter 2024: Record Rocky Mountain Region Volumes FINANCIAL HIGHLIGHTS: ONEOK announces higher third quarter 2025 earnings and affirms 2025 net income and adjusted EBITDA guidance ranges. ONEOK's third quarter 2025 earnings results were driven primarily by the positive impact of the ...

ONEOK Inc. (NYSE:OKE) is expected to report a significant increase in earnings per share (EPS) and revenue for the third quarter of 2025.The company's strategic acquisition of an additional stake in the BridgeTex Pipeline Company is anticipated to drive cost efficiencies and enhance profitability.Analysts have revised the consensus earnings per share estimate upwards by 1% over the past 30 days, reflecting a positive outlook on the company's performance.ONEOK Inc. (NYSE:OKE), a prominent player in the energ ...

Key Takeaways OKE's Q3 earnings estimate stands at $1.45 per share, up 22.9% year over year.New pipeline projects and a higher BridgeTex stake are likely to have supported revenue growth.Higher depreciation may have offset some gains from increased gas volumes and tariffs.ONEOK Inc. (OKE) is scheduled to release third-quarter 2025 results on Oct. 28, after market close. The company’s earnings were on par with estimates in the last reported quarter. Let’s discuss the factors that are likely to be reflected i ...

Analysts on Wall Street project that Oneok Inc. (OKE) will announce quarterly earnings of $1.45 per share in its forthcoming report, representing an increase of 22.9% year over year. Revenues are projected to reach $9.42 billion, increasing 87.5% from the same quarter last year.The current level reflects an upward revision of 1% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections ov ...

As the AI craze continues, I am seeking high-quality opportunities to expand the weight of my defensive stocks. Readers who have followed me for a long time know that I like investing in large midstreamI am a highly experienced Chief Financial Officer (CFO) with a strong background in the oilfield and real estate industries. With over a decade of experience in finance, I have led numerous complex due diligence efforts and M&A transactions, both domestically and internationally.In recent years, I have develo ...

Group 1 - The article discusses the ongoing interest in high-quality defensive stocks amid the AI craze, indicating a strategic shift towards midstream investments [1] - The author has extensive experience in finance, particularly in the oilfield and real estate sectors, which enhances their ability to conduct due diligence and M&A transactions [1] - The author has recently focused on equity research, providing services for a Dubai-based family office with over $20 million in assets under management, showcasing a commitment to informed investment decisions [1] Group 2 - The article does not provide any specific stock recommendations or investment advice, emphasizing the importance of individual investor suitability [2][3] - There is a clear disclaimer regarding the lack of any current stock positions in the companies mentioned, although there is a potential for future investment in OKE [2]

Core Thesis - ONEOK, Inc. is viewed positively due to its stable cash flows, long-term contracts, and operational resilience in the midstream energy sector [1][5] Company Overview - ONEOK, Inc. operates as a midstream energy company, focusing on gathering, processing, transporting, and storing natural gas, NGLs, crude oil, and refined products [2] - The company’s business model relies on long-term, fixed-fee contracts, which provide stability against commodity price fluctuations [2] Segment Analysis - The largest segment for ONEOK is NGLs, which processes raw mixtures into ethane, propane, and butane, but it has the lowest operating margin at approximately 18% due to domestic pricing and input costs [2] - The refined products and crude oil segment, enhanced by the Magellan Midstream acquisition, has margins near 40% and is characterized by heavy regulation and high replication costs, indicating a strong competitive advantage [3] Competitive Advantages - ONEOK benefits from significant barriers to entry due to its scale, extensive pipeline network, and capital-intensive infrastructure [4] - The company has a substantial amount of debt; however, it generates strong free cash flow and has a history of dividend growth, currently offering a dividend yield near 6% [4] Market Position and Outlook - The company is positioned well in a volatile energy sector, with ongoing infrastructure projects and growth in LNG exports, making it a stable, cash-generative business [5] - Despite some skepticism in the midstream sector, ONEOK's operational resilience and reliable free cash flow make it an attractive option for income-focused investors [5][7]