ONEOK Announces Higher Second Quarter 2025 Earnings and Affirms 2025 Financial Guidance Ranges

Core Viewpoint - ONEOK, Inc. reported higher second quarter 2025 results, driven by record natural gas liquids raw feed throughput volumes in the Rocky Mountain Region and strategic acquisitions [1][2][3] Financial Performance - Net income for Q2 2025 was $853 million, up from $780 million in Q2 2024, with net income attributable to ONEOK at $841 million [7][8] - Adjusted EBITDA for Q2 2025 reached $1.98 billion, compared to $1.62 billion in Q2 2024, reflecting an increase of 22% [7][8] - Diluted earnings per share were $1.34, slightly up from $1.33 in the same quarter last year [7] - Operating income increased to $1.43 billion from $1.23 billion year-over-year [7] Business Segment Results - Natural Gas Liquids Segment reported adjusted EBITDA of $673 million for Q2 2025, up from $635 million in Q2 2024 [9] - Refined Products and Crude Segment achieved adjusted EBITDA of $557 million in Q2 2025, compared to $467 million in Q2 2024 [13] - Natural Gas Gathering and Processing Segment saw adjusted EBITDA rise to $540 million from $371 million year-over-year [14] - Natural Gas Pipelines Segment reported adjusted EBITDA of $188 million, up from $152 million in Q2 2024 [17] Strategic Acquisitions and Investments - ONEOK acquired the remaining 49.9% interest in Delaware G&P LLC in May 2025, enhancing its operational footprint [6] - The company repurchased $169 million of senior notes and repaid $422 million of senior notes at maturity in June 2025 [11] - ONEOK's capital expenditures for Q2 2025 totaled $749 million, significantly higher than $479 million in Q2 2024 [7] Sustainability and ESG Initiatives - ONEOK received an MSCI ESG Rating of AAA in May 2025 and was included in the FTSE4Good Index in June 2025, highlighting its commitment to sustainability [11]