ONEOK, Inc. (OKE) Tops Q4 EPS by 8c; Trims FY13 Profit Outlook

February 25, 2013 4:14 PM EST
ONEOK, Inc. (NYSE: OKE) reported Q4 EPS of $0.53, $0.08 better than the analyst estimate of $0.45.

ONEOK reduced its 2013 net income guidance range to $350 million to $400 million, compared with the previous guidance range of $405 million to $455 million announced on Sept. 24, 2012. The updated guidance reflects lower expected earnings in the ONEOK Partners (NYSE: OKS) segment.

Half of the reduction in 2013 operating income and equity earnings guidance is due to lower expected natural gas liquids (NGL) volumes as a result of widespread and prolonged ethane rejection. Narrower expected NGL location price differentials and lower expected NGL prices, particularly ethane and propane, also are expected to affect the partnership's 2013 earnings.

For earnings history and earnings-related data on ONEOK, Inc. (OKE) click here.

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