ONEOK (NYSE: OKE) reported Q2 EPS of $0.68, $0.01 better than the analyst estimate of $0.67.

SUMMARY

• Second-quarter 2018 operating income and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased 40 and 30 percent, respectively, compared with the second quarter 2017;
• Second-quarter 2018 net income attributable to ONEOK totaled $281.0 million, or 68 cents per diluted share;
• Second-quarter 2018 distributable cash flow (DCF) increased 37 percent compared with the second quarter 2017, providing a dividend coverage ratio of 1.39 times;
• Debt-to-EBITDA ratio on an annualized run-rate basis of 3.4 times as of June 30, 2018;
• Second-quarter 2018 natural gas volumes processed increased 19 percent, and NGL volumes gathered and fractionated each increased 12 percent, compared with the second quarter 2017; and
• ONEOK increases its 2018 net income guidance midpoint to $1,085 million from $1,055 million and its adjusted EBITDA guidance midpoint to $2,350 million from $2,315 million, and narrows its 2018 financial guidance ranges. Updated financial guidance is listed in the tables.

"Our more than $4 billion of organic growth projects are progressing as planned, and we expect the West Texas LPG expansion in the Delaware Basin and our Sterling III pipeline expansion projects to be completed later this year," he added. "These projects, and others we've announced in the past year, will provide critical takeaway capacity for our customers in some of the country's most active basins."

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