ONEOK (OKE) Reports Q1 EPS of 29c, Reaffirms Forecast

ONEOK (NYSE: OKE) reported Q1 EPS of $0.29, $0.07 worse than the analyst estimate of $0.36.

"As the pure-play general partner of ONEOK Partners, we remain focused on making prudent financial decisions that will benefit our shareholders in the long term," said Terry K. Spencer, president and chief executive officer of ONEOK. "During the current challenging market conditions, our balance sheet continues to reflect our financial strength as we maintain a strong liquidity position and continue to benefit from the partnership's completed capital-growth projects in the form of increased cash flow to ONEOK.

"We expect to achieve our 2015 guidance announced earlier this year, supported by the partnership's anticipated natural gas and natural gas liquids (NGL) volume ramp up in the second half of the year and firm primarily fee-based earnings in the natural gas pipelines segment," continued Spencer.

The company is reaffirming its 2015 cash flow available for dividends guidance range of $570 million to $650 million and free cash flow guidance range of $90 million to $120 million, provided on Feb. 23, 2015.

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

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