ONEOK (NYSE: OKE) reported Q2 EPS of $0.33, $0.07 worse than the analyst estimate of $0.40.

UPDATED 2017 GUIDANCE

ONEOK's full-year 2017 net income is expected to be in the range of $635 million to $795 million, compared with its previously announced range of $575 million to $755 million. The updated guidance reflects the completed merger transaction with ONEOK Partners and nonrecurring and transaction-related charges, which were not included in ONEOK\'s financial guidance provided on Feb. 1, 2017.

ONEOK narrowed its adjusted EBITDA guidance to a range of $1.89 billion to $2.06 billion, compared with its previously announced range of $1.87 billion to $2.13 billion.

The natural gas liquids segment expects full-year 2017 adjusted EBITDA of $1.14 billion to $1.24 billion, compared with the previously announced range of $1.11 billion to $1.31 billion. NGLs gathered are expected to average 800,000 to 850,000 bpd, compared with the previously announced range of 800,000 to 900,000 bpd, and NGLs fractionated remain unchanged from the previously announced range of 575,000 to 635,000 bpd. These volume updates primarily reflect the timing of expected volume increases from recently connected third-party natural gas processing plants.

The natural gas gathering and processing segment increased its full-year 2017 adjusted EBITDA guidance to $460 million to $500 million, compared with the previously announced range of $445 million to $485 million. The increase in the segment\'s financial guidanceis primarily due to higher than expected volumes in the Williston Basin and STACK and SCOOP areas, and continued strong producer activity expected through the second half of the year. Natural gas processed is expected to average 1,475 to 1,580 MMcf/d, compared with the previously announced range of 1,400 to 1,550 MMcf/d, and natural gas gathered is expected to average 1,575 to 1,680 MMcf/d, compared to the previously announced range of 1,500 to 1,650 MMcf/d.

The natural gas pipelines segment increased its full-year 2017 adjusted EBITDA guidance to $330 million to $350 million, compared with the previously announced range of $320 million to $340 million. The increase primarily reflects the expectation for continued fee-based earnings growth from increased firm demand charge transportation services.

Growth capital expenditures are expected to range from $450 million to $550 million, compared with the previously announced range of $380 million to $480 million. Maintenance capital expenditures are expected to range from $130 million to $150 million, compared with the previously announced range of $140 million to $160 million.

Additional guidance information can be found in the tables.

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