Oneok (OKE) Announces Fourth Quarter Earnings: Insights from Major Performance Indicators

Oneok Inc. Reports Q4 2025 Financial Results

For the fourth quarter ending December 2025, Oneok Inc. (OKE) posted revenue of $9.07 billion, reflecting a 29.5% increase compared to the same quarter last year. Earnings per share were $1.55, slightly lower than the $1.57 reported a year ago.

The company's revenue came in 4.5% below the Zacks Consensus Estimate of $9.49 billion. However, earnings per share surpassed expectations by 4.73%, with analysts forecasting $1.48 per share.

While headline figures such as revenue and earnings often draw the most attention, investors also consider other key performance indicators to better understand a company's financial health and future prospects. Comparing these metrics to both previous results and analyst projections can provide deeper insight into potential stock performance.

Key Performance Metrics for Oneok

• Natural Gas Liquids Raw Feed Throughput: 1,586.00 MBBL/d, compared to the average analyst estimate of 1,650.68 MBBL/d.
• Natural Gas Gathering and Processing Revenue: $1.8 billion, above the $1.46 billion consensus; this marks a 1.6% decrease year-over-year.
• Natural Gas Pipelines Revenue: $527 million, exceeding the $355.94 million estimate and up 73.9% from the prior year.
• Refined Products & Crude Revenue: $4.03 billion, well above the $2.29 billion estimate, representing a 146.1% increase from last year.
• Natural Gas Liquids Revenue: $3.98 billion, compared to the $2.47 billion estimate, but down 12.1% year-over-year.
• Adjusted EBITDA – Natural Gas Liquids: $723 million, below the $781.79 million analyst average.
• Adjusted EBITDA – Refined Products & Crude: $567 million, compared to the $608.12 million estimate.
• Adjusted EBITDA – Natural Gas Pipelines: $261 million, above the $224.21 million consensus.
• Adjusted EBITDA – Natural Gas Gathering and Processing: $541 million, versus the $574.43 million analyst estimate.

Over the past month, Oneok shares have gained 7%, outperforming the Zacks S&P 500 composite, which declined by 0.5%. The stock currently holds a Zacks Rank #3 (Hold), suggesting it may perform in line with the broader market in the near future.

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