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Oneok (OKE) Q2 Earnings Preview: What You Should Know Beyond the Headline Estimates

By Zacks Equity Research | July 31, 2025, 9:15 AM

The upcoming report from Oneok Inc. (OKE) is expected to reveal quarterly earnings of $1.34 per share, indicating an increase of 0.8% compared to the year-ago period. Analysts forecast revenues of $8.56 billion, representing an increase of 75% year over year.

Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.2% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.

Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

Bearing this in mind, let's now explore the average estimates of specific Oneok metrics that are commonly monitored and projected by Wall Street analysts.

According to the collective judgment of analysts, 'Revenues- Natural Gas Gathering and processing' should come in at $1.37 billion. The estimate indicates a year-over-year change of +62.4%.

The consensus among analysts is that 'Revenues- Natural Gas Pipelines' will reach $161.26 million. The estimate indicates a change of -1.1% from the prior-year quarter.

Based on the collective assessment of analysts, 'Revenues- Natural gas liquids' should arrive at $3.06 billion. The estimate suggests a change of -13.3% year over year.

The average prediction of analysts places 'Raw feed throughput - Natural Gas Liquids' at 1,702.67 thousands of barrels of oil per day. Compared to the present estimate, the company reported 1,365.00 thousands of barrels of oil per day in the same quarter last year.

The collective assessment of analysts points to an estimated 'Adjusted EBITDA- Natural Gas Liquids' of $725.00 million. The estimate compares to the year-ago value of $635.00 million.

It is projected by analysts that the 'Adjusted EBITDA- Natural Gas Pipelines' will reach $145.59 million. The estimate is in contrast to the year-ago figure of $152.00 million.

Analysts' assessment points toward 'Adjusted EBITDA- Natural Gas Gathering and Processing' reaching $538.82 million. Compared to the present estimate, the company reported $371.00 million in the same quarter last year.

View all Key Company Metrics for Oneok here>>>

Over the past month, Oneok shares have recorded returns of +0.1% versus the Zacks S&P 500 composite's +2.7% change. Based on its Zacks Rank #3 (Hold), OKE will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

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ONEOK, Inc. (OKE): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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