Quarterly ResultApr 29, 2026, 04:44 PM
OKE Q1 Revenue +19.6% to $9.62B; Net Income +21.7% to $774M; EPS $1.23
AI Summary
ONEOK, Inc. reported a strong first quarter for 2026, with total revenues increasing by 19.6% to $9.62 billion and net income attributable to ONEOK rising 21.7% to $774 million, resulting in $1.23 diluted EPS. The company also saw an increase in cash provided by operating activities. However, results were impacted by a $60 million noncash impairment charge on an equity investment and a significant increase in other comprehensive loss. ONEOK also engaged in debt management activities, including a new $1.2 billion term loan and the redemption of $491 million in senior notes, and formed a new joint venture, OWM.
Key Highlights
- OKE Q1 2026 total revenues increased 19.6% to $9.62 billion from $8.04 billion YoY.
- Net income attributable to ONEOK rose 21.7% to $774 million ($1.23 EPS) from $636 million ($1.04 EPS) YoY.
- Cash provided by operating activities increased to $934 million from $904 million YoY.
- Declared a quarterly common stock dividend of $1.07 per share, consistent with prior quarter.
- Incurred a $60 million noncash impairment charge on the Powder Springs equity investment.
- Entered into a new $1.2 billion Term Loan Agreement in April 2026.
- Redeemed $491 million of 4.85% senior notes due July 2026 in April 2026.
- Formed OWM, a new joint venture for natural gas gathering and processing assets in Wyoming.