Earnings Increase Driven by Volumes and Optimization
Second quarter 2026 earnings increased primarily due to higher NGL, Refined Products, and natural gas volumes and higher optimization and marketing activity.
ONEOK INC /NEW/ is expected to release its Q3 2026 10-Q filing on October 26, 2026, after market close. Last quarter: ONEOK’s Q2 FY2026 revenue jumped 52.8% year-over-year, powered by higher volumes and commodity sales, but cost increases compressed margins.
EPS Estimate
$1.49
Revenue Estimate
$9.62B
Analyst consensus from Finnhub and Financial Modeling Prep. Actual results posted within minutes of the SEC filing on the OKE page.
Drawn from management commentary in the Q2 2026 10-Q:
Second quarter 2026 earnings increased primarily due to higher NGL, Refined Products, and natural gas volumes and higher optimization and marketing activity.
Each of the four reportable segments is primarily fee-based, and consolidated earnings are expected to be approximately 90% fee-based in 2026, supported by long-term contracts.
Primary capital projects include the Bighorn plant ($365M, mid-2027), Medford fractionator rebuild ($485M, phased completion 2026–2027), Texas City Logistics export terminal ($700M, early 2028), MBTC Pipeline ($280M, early 2028), Eiger Express Pipeline ($350M, mid-2028), and Greater Denver pipeline expansion ($480M, Q3 2026).
Revenue
$12.05B
+52.77% YoY
EPS (Diluted)
$1.53
+14.18% YoY
Operating Income
$1.59B
+11.32% YoY
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