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ONEOK Partners (OKS) Misses Q1 Earnings, Revenues Up Y/Y
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Oil and gas pipeline operator ONEOK Partners, L.P. reported first-quarter 2017 earnings of 57 cents per unit, missing the Zacks Consensus Estimate of 60 cents by 5%.
However, earnings, improved 9.6%from the year-ago tally of 52 cents.
Total Revenue
In the quarter under review, ONEOK Partners reported total revenue of $2,749 million, missing the Zacks Consensus Estimate of $2,824 million by 2.6%. However, quarterly revenues were up 55% from $1,774 million in the year-ago quarter.
Operational Results
ONEOK Partners’ adjusted earnings before interest, tax, depreciation and amortization (EBITDA) were pegged at $464.2 million, up 4.4%.
Cost of sales and fuel was $2,143.8 million, up 79.2% from $1,195.7 million a year ago.
The partnership reported operating income of $324.4 million, up 1.9%.
ONEOK Partners’ interest expenses were $90.7 million, down 1.9% from $92.5 million reported a year ago.
ONEOK Partners, L.P. Price, Consensus and EPS Surprise
As of Mar 31, 2017, ONEOK Partners had cash and cash equivalents of $8.4 million, up from $0.4 million as of Dec 31, 2016.
Long-term debt (excluding current maturities) as of Mar 31, 2017, was $6,290.9 million, down from $6,291.3 million as of Dec 31, 2016.
The partnership’s cash flow from operating activities was $280.3 million in the first quarter, up 5.27% from $266.2 million in the year-ago period.
Capital expenditures (less allowance for equity funds used during construction) in the first quarter was $112.5 million, down 48.5% from the prior-year level of $195.8 million.
Distributable cash flow (“DCF”) was $355.3 million in the first quarter, up 2.2% from the prior-year level of $347.5 million.
Upcoming Peer Releases
PBF Logistics LP currently sportsa Zacks Rank #1 (Strong Buy).The Zacks Consensus Estimate is pegged at 55 cents. It is expected to report first-quarter 2017 earnings on May 4. You can see the complete list of today’s Zacks #1 Rank stocks here.
Spectra Energy Partners, LP currently carriesa Zacks Rank of #3 (Hold). The Zacks Consensus Estimate is pegged at 81 cents. It is expected to report first-quarter 2017 earnings on May 10.
Summit Midstream Partners, LP (SMLP - Free Report) carriesa Zacks Rank of #3.The Zacks Consensus Estimate is pegged at 5 cent. It is expected to report first-quarter 2017 earnings on May 4.
Zacks Rank
ONEOK Partners currently carries a Zacks Rank #3.
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ONEOK Partners (OKS) Misses Q1 Earnings, Revenues Up Y/Y
Oil and gas pipeline operator ONEOK Partners, L.P. reported first-quarter 2017 earnings of 57 cents per unit, missing the Zacks Consensus Estimate of 60 cents by 5%.
However, earnings, improved 9.6%from the year-ago tally of 52 cents.
Total Revenue
In the quarter under review, ONEOK Partners reported total revenue of $2,749 million, missing the Zacks Consensus Estimate of $2,824 million by 2.6%. However, quarterly revenues were up 55% from $1,774 million in the year-ago quarter.
Operational Results
ONEOK Partners’ adjusted earnings before interest, tax, depreciation and amortization (EBITDA) were pegged at $464.2 million, up 4.4%.
Cost of sales and fuel was $2,143.8 million, up 79.2% from $1,195.7 million a year ago.
The partnership reported operating income of $324.4 million, up 1.9%.
ONEOK Partners’ interest expenses were $90.7 million, down 1.9% from $92.5 million reported a year ago.
ONEOK Partners, L.P. Price, Consensus and EPS Surprise
ONEOK Partners, L.P. Price, Consensus and EPS Surprise | ONEOK Partners, L.P. Quote
Financial Condition
As of Mar 31, 2017, ONEOK Partners had cash and cash equivalents of $8.4 million, up from $0.4 million as of Dec 31, 2016.
Long-term debt (excluding current maturities) as of Mar 31, 2017, was $6,290.9 million, down from $6,291.3 million as of Dec 31, 2016.
The partnership’s cash flow from operating activities was $280.3 million in the first quarter, up 5.27% from $266.2 million in the year-ago period.
Capital expenditures (less allowance for equity funds used during construction) in the first quarter was $112.5 million, down 48.5% from the prior-year level of $195.8 million.
Distributable cash flow (“DCF”) was $355.3 million in the first quarter, up 2.2% from the prior-year level of $347.5 million.
Upcoming Peer Releases
PBF Logistics LP currently sportsa Zacks Rank #1 (Strong Buy).The Zacks Consensus Estimate is pegged at 55 cents. It is expected to report first-quarter 2017 earnings on May 4. You can see the complete list of today’s Zacks #1 Rank stocks here.
Spectra Energy Partners, LP currently carriesa Zacks Rank of #3 (Hold). The Zacks Consensus Estimate is pegged at 81 cents. It is expected to report first-quarter 2017 earnings on May 10.
Summit Midstream Partners, LP (SMLP - Free Report) carriesa Zacks Rank of #3.The Zacks Consensus Estimate is pegged at 5 cent. It is expected to report first-quarter 2017 earnings on May 4.
Zacks Rank
ONEOK Partners currently carries a Zacks Rank #3.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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