ONEOK Inc. (OKE - Free Report) reported fourth-quarter 2016 operating earnings of 43 cents per share, missing the Zacks Consensus Estimate of 47 cents by 8.5%.
Full-year 2016 operating earnings came in at $1.67 per share, missing the Zacks Consensus Estimate of $1.73 by 3.5%.Yearly earnings, however, increased 40.3% from the 2015 tally of $1.19.
Total Revenue
ONEOK’s total revenue of $2,654.5 million exceeded the Zacks Consensus Estimate of $2,508 million by 5.8%. Revenues also jumped 37.5% from $1,931 million in the prior-year quarter.
Full-year 2016 revenues came in at $8,921 million, exceeding the Zacks Consensus Estimate of $8,420 million by nearly 6%. Yearly revenues also improved 14.9% year over year.
Quarterly Highlights
In the quarter under review, ONEOK’s adjusted earnings before interest, tax, depreciation and amortization (EBITDA) came in at $469, up 5% year over year.
In the fourth quarter, the company spent $2,021.5 million on cost of sales and fuel, up 51.6%.
Operating income came in at $329.6 million in the fourth quarter, up 36.2%.
The company incurred interest expenses of $114.2 million, up 3.2%.
Financial Condition
As of Dec 31, 2016, ONEOK had cash and cash equivalents of $248.9 million, compared with $97.6 million as of Dec 31, 2015.
Long-term debt (excluding current maturities) was $7,920 million as of Dec 31, 2016, down from the 2015-end level of $8,323.6 million.
In 2016, the company’s cash flow from operating activities was $1,351.6 million, up from nearly $1,007 million in the year-ago period.
Capital expenditure in 2016 was $624.6 million, down from $1,188.3 million a year ago.
Peer Releases
Atmos Energy Corporation (ATO - Free Report) reported fourth-quarter 2016 operating earnings of $1.08 per share, beating the Zacks Consensus Estimate of $1.03 by 4.9%.
UGI Corporation (UGI - Free Report) reported fourth-quarter 2016 operating earnings of 91 cents per share, beating the Zacks Consensus Estimate of 75 cents by 21.2%.
WGL Holdings, Inc. reported fourth-quarter 2016 operating earnings of $1.24 per share, missing the Zacks Consensus Estimate of $1.27 by 2.4%.
Zacks Rank
ONEOK currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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ONEOK Inc. (OKE - Free Report) reported fourth-quarter 2016 operating earnings of 43 cents per share, missing the Zacks Consensus Estimate of 47 cents by 8.5%.
Full-year 2016 operating earnings came in at $1.67 per share, missing the Zacks Consensus Estimate of $1.73 by 3.5%.Yearly earnings, however, increased 40.3% from the 2015 tally of $1.19.
Total Revenue
ONEOK’s total revenue of $2,654.5 million exceeded the Zacks Consensus Estimate of $2,508 million by 5.8%. Revenues also jumped 37.5% from $1,931 million in the prior-year quarter.
Full-year 2016 revenues came in at $8,921 million, exceeding the Zacks Consensus Estimate of $8,420 million by nearly 6%. Yearly revenues also improved 14.9% year over year.
Quarterly Highlights
In the quarter under review, ONEOK’s adjusted earnings before interest, tax, depreciation and amortization (EBITDA) came in at $469, up 5% year over year.
In the fourth quarter, the company spent $2,021.5 million on cost of sales and fuel, up 51.6%.
Operating income came in at $329.6 million in the fourth quarter, up 36.2%.
The company incurred interest expenses of $114.2 million, up 3.2%.
Financial Condition
As of Dec 31, 2016, ONEOK had cash and cash equivalents of $248.9 million, compared with $97.6 million as of Dec 31, 2015.
Long-term debt (excluding current maturities) was $7,920 million as of Dec 31, 2016, down from the 2015-end level of $8,323.6 million.
In 2016, the company’s cash flow from operating activities was $1,351.6 million, up from nearly $1,007 million in the year-ago period.
Capital expenditure in 2016 was $624.6 million, down from $1,188.3 million a year ago.
Peer Releases
Atmos Energy Corporation (ATO - Free Report) reported fourth-quarter 2016 operating earnings of $1.08 per share, beating the Zacks Consensus Estimate of $1.03 by 4.9%.
UGI Corporation (UGI - Free Report) reported fourth-quarter 2016 operating earnings of 91 cents per share, beating the Zacks Consensus Estimate of 75 cents by 21.2%.
WGL Holdings, Inc. reported fourth-quarter 2016 operating earnings of $1.24 per share, missing the Zacks Consensus Estimate of $1.27 by 2.4%.
Zacks Rank
ONEOK currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A Full-Blown Technological Breakthrough in the Making
Zacks’ Aggressive Growth Strategist Brian Bolan explores autonomous cars in our latest Special Report, Driverless Cars: Your Roadmap to Mega-Profits Today. In addition to who will be selling them and how the auto industry will be impacted, Brian reveals 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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