ONEOK Set to Report Q3 Earnings: Here's What You Need to Know

ONEOK Inc. OKE is scheduled to release third-quarter 2025 results on Oct. 28, after market close. 

The company’s earnings were on par with estimates in the last reported quarter. Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.

Factors That Might Have Impacted OKE’s Q3 Performance

In July 2025, ONEOK acquired an additional 30% stake in BridgeTex Pipeline Company, LLC, increasing its ownership to 60%. This strategic acquisition is anticipated to have generated meaningful cost efficiencies and synergies, supporting OKE’s profitability in the to-be-reported quarter.

The bottom line is expected to have continued to gain from strong fee-based contracts, as more than 90% of its revenues might have been generated from such contracts.

The company’s earnings are also expected to have benefited from the ramp-up of well completions in its Rocky Mountain and Mid-Continent regions in prior quarters, with similar momentum anticipated during the third quarter. This is likely to have boosted natural gas gathering and processing volumes even further.

ONEOK anticipates sustained demand growth for its refined products in the third quarter, driven by the peak summer travel season. After the July tariff adjustments, the company raised its refined product rates by mid-single digits as expected, which is likely to boost its revenues and support overall margin expansion in the quarter.

However, increased depreciation and amortization expenses may have partially offset some of the positive impacts in the to-be-reported quarter.

OKE’s Q3 Expectations

The Zacks Consensus Estimate for earnings is pegged at $1.45 per share, indicating a year-over-year increase of 22.9%. 

The Zacks Consensus Estimate for revenues is pinned at $9.42 billion, calling for a jump of 87.5% year over year.

The Zacks Consensus Estimate for Raw feed throughput is pinned at 1,542.23 thousand barrels of natural gas liquid per day, up 16.5% year over year. 

The Zacks Consensus Estimate for Natural gas processing volumes is pegged at 5,690.49 million cubic feet of gas per day, up 2.1% from the second quarter of 2025.

What Our Quantitative Model Predicts for OKE

Our proven model does not conclusively predict an earnings beat for ONEOK this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here as you will see below.

ONEOK, Inc. Price and EPS Surprise

ONEOK, Inc. price-eps-surprise | ONEOK, Inc. Quote

Earnings ESP: The company’s Earnings ESP is +0.47%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Currently, ONEOK carries a Zacks Rank #4 (Sell). 

You can see the complete list of today’s Zacks #1 Rank stocks here.

Stocks to Consider

Investors may consider the following players from the same sector, as these have the right combination of elements to come up with an earnings beat this reporting cycle.

Bloom Energy BE is set to post third-quarter earnings on Oct. 28, after market close. It has an Earnings ESP of +41.94% and sports a Zacks Rank of 1 at present. 

BE’s long-term (three to five years) earnings growth rate is 28.02%. The Zacks Consensus Estimate for earnings is pinned at 8 cents per share, which suggests a massive year-over-year surge of 900%.

Archrock, Inc. AROC is expected to report its third-quarter 2025 results on Oct. 28, after market close. It has an Earnings ESP of +7.32% and carries a Zacks Rank of 2 at present. 

AROC’s long-term earnings growth rate is 12%. The Zacks Consensus Estimate for earnings is pegged at 41 cents per share, which implies a year-over-year rise of 46.4%.

First Solar, Inc. FSLR is slated to report its third-quarter 2025 results on Oct. 30, after market close. It has an Earnings ESP of +1.59% and a Zacks Rank of 3 at present.

FSLR’s long-term earnings growth rate is 34.99%. The Zacks Consensus Estimate for earnings is pinned at $4.31 per share, which suggests a year-over-year improvement of 48.1%.

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

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