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Oneok (OKE) Reports Q1 Earnings: What Key Metrics Have to Say

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For the quarter ended March 2026, Oneok Inc. (OKE - Free Report) reported revenue of $9.62 billion, up 19.6% over the same period last year. EPS came in at $1.30, compared to $1.04 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $9.69 billion, representing a surprise of -0.69%. The company delivered an EPS surprise of +3.18%, with the consensus EPS estimate being $1.26.

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: 1,493.00 MBBL/d versus the two-analyst average estimate of 1,544.50 MBBL/d.
  • Adjusted EBITDA- Natural Gas Gathering and Processing: $467 million versus the two-analyst average estimate of $510.53 million.
  • Adjusted EBITDA- Refined Products & Crude: $492 million versus the two-analyst average estimate of $523.05 million.
  • Adjusted EBITDA- Natural Gas Pipelines: $339 million compared to the $238.23 million average estimate based on two analysts.
  • Adjusted EBITDA- Natural Gas Liquids: $706 million compared to the $682.35 million average estimate based on two analysts.

View all Key Company Metrics for Oneok here>>>

Shares of Oneok have returned -0.4% over the past month versus the Zacks S&P 500 composite's +11% 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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