ONEOK (OKE) Tops Q2 EPS by 2c

ONEOK (NYSE: OKE) reported Q2 EPS of $0.77, $0.02 better than the analyst estimate of $0.75.

• Net income of $342.1 million, resulting in 77 cents per diluted share.
• 50% increase in adjusted EBITDA to $801.5 million.
• 86% increase in Rocky Mountain region NGL raw feed throughput volumes.
• 52% increase in Rocky Mountain region natural gas volumes processed.
• $1.06 per MMBtu average fee rate in the natural gas gathering and processing segment.

Expects 2021 Results Above Guidance Midpoints:

Based on year-to-date results, expected volumes and commodity prices, ONEOK now expects 2021 net income and adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) to be above the midpoints of the ranges provided on April 27, 2021, of $1,200 million to $1,500 million, and $3,050 million to $3,350 million, respectively.

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

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