ONEOK (OKE) Tops Q1 EPS by 3c

ONEOK (NYSE: OKE) reported Q1 EPS of $0.64, $0.03 better than the analyst estimate of $0.61.

FINANCIAL HIGHLIGHTS:

• Maintaining 2018 net income guidance of $955 million to $1,155 million, adjusted EBITDA guidance of $2,215 million to $2,415 million and distributable cash flow guidance of $1,615 million to $1,815 million;
• Declaring in April 2018 a quarterly dividend of 79.5 cents per share, or $3.18 per share on an annualized basis, an increase of nearly 30 percent compared with the same period in 2017;
• Debt-to-EBITDA ratio of 3.8 times as of March 31, 2018, on a trailing 12-month basis;
• Having no outstanding commercial paper and $2.5 billion of borrowing capacity available under its $2.5 billion credit agreement; and
• First-quarter 2018 operating income was $419.7 million compared with $397.8 million for the fourth quarter 2017, a 6 percent increase.

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

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