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ONEOK to Post Q1 Earnings: What's in the Cards for the Stock?
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Key Takeaways
OKE's Q1 EPS consensus is $1.30, up 25% year over year, with revenues seen at $9.52B, up 18.3%.
OKE likely benefited from stronger gas demand and fee-based contracts expected to drive over 90% of revenue.
Winter storm Fern hit throughput, and higher interest expense may have partially reduced quarterly gains.
ONEOK Inc. (OKE - Free Report) is scheduled to release first-quarter 2026 results on April 28, after market close. The company delivered an earnings surprise of 4.73% in the last reported quarter.
Let us discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors Likely to Have Influenced OKE’s Q1 Performance
ONEOK’s first-quarter earnings are likely to have benefited from stronger natural gas demand, supported by growth in data centers, liquefied natural gas and industrial consumption.
The company’s bottom line is likely to have been aided by strong fee-based contracts, with more than 90% of its revenues expected to be derived from such contracts. Contributions from recent acquisitions are likely to have boosted first-quarter earnings.
OKE’s earnings are likely to have gained from increased well completions in its Rocky Mountain and Mid-Continent regions in prior quarters, which may have further lifted natural gas gathering and processing volumes. However, winter storm Fern led to temporary wellhead freeze-offs and challenging operating conditions, which briefly impacted throughput in the first quarter of 2026.
However, higher interest expenses may have partially reduced some of the gains in the quarter to be reported.
Q1 Expectations for OKE
The Zacks Consensus Estimate for earnings is pegged at $1.30 per share, indicating a year-over-year increase of 25%.
The Zacks Consensus Estimate for revenues is pinned at $9.52 billion, calling for a year-over-year rise of 18.3%.
The Zacks Consensus Estimate for Raw feed throughput is pinned at 1,544.5 thousand barrels of natural gas liquid per day, suggesting 19.5% year-over-year growth.
The Zacks Consensus Estimate for Natural gas processing volumes is pegged at 5,693.29 million cubic feet of gas per day, indicating an 8.4% increase from the year-ago reported level.
What Our Quantitative Model Predicts for OKE
Our proven model does not conclusively predict an earnings beat for ONEOK this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as you will see below.
Earnings ESP: The company’s Earnings ESP is -2.09%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Investors may consider the following players from the same sector, as these have the right combination of elements to come up with an earnings beat this reporting cycle.
TotalEnergies SE (TTE - Free Report) is expected to report first-quarter 2026 results on April 29, before market open. It currently has an Earnings ESP of +20.30% and a Zacks Rank of 1 at present.
The Zacks Consensus Estimate for earnings is pinned at $1.99, which implies a year-over-year rise of 8.7%. The Zacks Consensus Estimate for sales stands at $46.69 billion.
Ormat Technologies Inc. (ORA - Free Report) is set to post first-quarter 2026 results on May 6, after market close. It has an Earnings ESP of +4.35% and a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for earnings is pinned at 92 cents per share, which implies a year-over-year rise of 35.3%. The Zacks Consensus Estimate for sales stands at $349.3 million, which suggests a year-over-year improvement of 52%.
Sempra Energy (SRE - Free Report) is slated to report first-quarter 2026 results on May 7, before market open. It has an Earnings ESP of +2.26% and a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for earnings is pinned at $1.48, which implies a year-over-year rise of 2.8%. The Zacks Consensus Estimate for sales stands at $4.13 billion, which suggests a year-over-year improvement of 8.8%.
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ONEOK to Post Q1 Earnings: What's in the Cards for the Stock?
Key Takeaways
ONEOK Inc. (OKE - Free Report) is scheduled to release first-quarter 2026 results on April 28, after market close. The company delivered an earnings surprise of 4.73% in the last reported quarter.
Let us discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors Likely to Have Influenced OKE’s Q1 Performance
ONEOK’s first-quarter earnings are likely to have benefited from stronger natural gas demand, supported by growth in data centers, liquefied natural gas and industrial consumption.
The company’s bottom line is likely to have been aided by strong fee-based contracts, with more than 90% of its revenues expected to be derived from such contracts. Contributions from recent acquisitions are likely to have boosted first-quarter earnings.
OKE’s earnings are likely to have gained from increased well completions in its Rocky Mountain and Mid-Continent regions in prior quarters, which may have further lifted natural gas gathering and processing volumes. However, winter storm Fern led to temporary wellhead freeze-offs and challenging operating conditions, which briefly impacted throughput in the first quarter of 2026.
However, higher interest expenses may have partially reduced some of the gains in the quarter to be reported.
Q1 Expectations for OKE
The Zacks Consensus Estimate for earnings is pegged at $1.30 per share, indicating a year-over-year increase of 25%.
The Zacks Consensus Estimate for revenues is pinned at $9.52 billion, calling for a year-over-year rise of 18.3%.
The Zacks Consensus Estimate for Raw feed throughput is pinned at 1,544.5 thousand barrels of natural gas liquid per day, suggesting 19.5% year-over-year growth.
The Zacks Consensus Estimate for Natural gas processing volumes is pegged at 5,693.29 million cubic feet of gas per day, indicating an 8.4% increase from the year-ago reported level.
What Our Quantitative Model Predicts for OKE
Our proven model does not conclusively predict an earnings beat for ONEOK this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as you will see below.
ONEOK, Inc. Price and EPS Surprise
ONEOK, Inc. price-eps-surprise | ONEOK, Inc. Quote
Earnings ESP: The company’s Earnings ESP is -2.09%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, ONEOK carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Investors may consider the following players from the same sector, as these have the right combination of elements to come up with an earnings beat this reporting cycle.
TotalEnergies SE (TTE - Free Report) is expected to report first-quarter 2026 results on April 29, before market open. It currently has an Earnings ESP of +20.30% and a Zacks Rank of 1 at present.
The Zacks Consensus Estimate for earnings is pinned at $1.99, which implies a year-over-year rise of 8.7%. The Zacks Consensus Estimate for sales stands at $46.69 billion.
Ormat Technologies Inc. (ORA - Free Report) is set to post first-quarter 2026 results on May 6, after market close. It has an Earnings ESP of +4.35% and a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for earnings is pinned at 92 cents per share, which implies a year-over-year rise of 35.3%. The Zacks Consensus Estimate for sales stands at $349.3 million, which suggests a year-over-year improvement of 52%.
Sempra Energy (SRE - Free Report) is slated to report first-quarter 2026 results on May 7, before market open. It has an Earnings ESP of +2.26% and a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for earnings is pinned at $1.48, which implies a year-over-year rise of 2.8%. The Zacks Consensus Estimate for sales stands at $4.13 billion, which suggests a year-over-year improvement of 8.8%.