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Compared to Estimates, Oneok (OKE) Q2 Earnings: A Look at Key Metrics

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Oneok Inc. (OKE - Free Report) reported $7.89 billion in revenue for the quarter ended June 2025, representing a year-over-year increase of 61.2%. EPS of $1.34 for the same period compares to $1.33 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $8.56 billion, representing a surprise of -7.91%. The company has not delivered EPS surprise, with the consensus EPS estimate being $1.34.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Oneok performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Raw feed throughput - Natural Gas Liquids: 1,527.00 MBBL/d compared to the 1,702.67 MBBL/d average estimate based on two analysts.
  • Revenues- Natural Gas Gathering and processing: $1.85 billion versus the two-analyst average estimate of $1.37 billion. The reported number represents a year-over-year change of +118.4%.
  • Revenues- Natural Gas Pipelines: $405 million versus $161.26 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +148.5% change.
  • Revenues- Refined Products & Crude: $2.91 billion versus the two-analyst average estimate of $992.77 million.
  • Revenues- Natural gas liquids: $3.87 billion versus the two-analyst average estimate of $3.06 billion. The reported number represents a year-over-year change of +9.7%.
  • Adjusted EBITDA- Natural Gas Liquids: $673 million versus $725 million estimated by three analysts on average.
  • Adjusted EBITDA- Refined Products & Crude: $557 million versus $549.48 million estimated by three analysts on average.
  • Adjusted EBITDA- Natural Gas Pipelines: $188 million compared to the $145.59 million average estimate based on three analysts.
  • Adjusted EBITDA- Natural Gas Gathering and Processing: $540 million compared to the $538.82 million average estimate based on three analysts.

View all Key Company Metrics for Oneok here>>>

Shares of Oneok have returned -6.7% over the past month versus the Zacks S&P 500 composite's +1.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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