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15:00
Aug 04 ◎

OKE FY2026 Q2 Watch

ONEOK, Inc. (OKE) FY2026 Q2 Earnings Call

OKE ▾

Pierce Norton

Management tone is confidently long, backed by record NGL volumes, strong project progress, and a raised full-year EBITDA outlook.

"We raised our guidance for the second time this year, reflecting strong year-to-date performance and continued momentum heading into the back half of the year."

OKE WATCH

HIGH

15:00
Apr 29 ◎

OKE FY2026 Q1 Watch

ONEOK, Inc. (OKE) FY2026 Q1 Earnings Call

QAT OKE ▾

Pierce Norton

Damage to Qatar's LNG facilities during the Middle East conflict will likely divert expansion equipment to rebuild, shifting incremental LNG capacity growth to US suppliers like ONEOK's customers.

"more than likely the equipment that was ordered to do those expansions will probably go to rebuilding some of the damage that was done during these war efforts. So that means that the incremental capacity is going to really land back in"

QAT WATCH

Walt Hulse

Management raised full-year guidance on strong Q1 performance and more constructive market environment, with expectations for Q1 to be the lowest EBITDA quarter of the year.

"We now expect 2026 net income to increase to a midpoint of approximately $3.5 billion, with diluted earnings per share increasing to a midpoint of $5.53. We are also increasing our adjusted EBITDA guidance to a midpoint of $8.25 billion."

OKE WATCH

HIGH

16:00
Feb 24 ◎

OKE FY2025 Q4 Watch

ONEOK, Inc. (OKE) FY2025 Q4 Earnings Call

MPLX OKE KMI ▾

Pierce Norton

The Saguaro Connector (Texas City export terminal) JV with MPLX is progressing well, with strong collaboration noted.

"We have multiple touch points at different levels of MPLX in here. And I'm very, very pleased with the communication that's going back and forth between the two companies."

MPLX WATCH

Walt Hulse

Guidance reflects a disciplined, cautious outlook with lower WTI assumptions ($55-60) and tempered volume growth, but confidence in executing on identified synergies and growth projects. Tone is measured, amidst a challenging commodity backdrop.

"Our 2026 adjusted EBITDA midpoint of $8.1 billion is supported by volume growth, completed or near completed projects, and $150 million of incremental acquisition synergies."

OKE WATCH

Sheridan Swords

ONEOK has identified 5,000 undrilled wells on dedicated acreage in the Bakken, representing 15+ years of inventory at current rig rates, even as crude prices dictate the pace of drilling. — The long inventory life in the Bakken signals stable long-term volumes for midstream players, but also highlights competition for market share (e.g., the 18k bpd loss to KMI).

"We have a contract coming off this year where we're going to lose about 18,000 barrels a day going over to the Kinder Morgan system."

KMI WATCH

HIGH

15:00
Oct 29 ◎

OKE FY2025 Q3 Watch

ONEOK, Inc. (OKE) FY2025 Q3 Earnings Call

OKE ▾

Pierce Norton

Management reaffirms 2025 guidance, highlights strong momentum and multiple growth projects coming online in 2026, signaling confidence in continued earnings growth.

"we are very confident in our positive trajectory"

OKE WATCH

HIGH

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