ONEOK Set to Report Q4 Earnings: What's in Store for the Stock?

ONEOK Inc. OKE is scheduled to release fourth-quarter 2025 results on Feb. 23, after market close. The company delivered an earnings surprise of 2.05% in the last reported quarter. 

Let us discuss the factors that are likely to be reflected in the upcoming quarterly results.

Factors Expected to Have Impacted OKE’s Q4 Performance

ONEOK’s fourth-quarter earnings are likely to have gained from rising industrial demand from data centers, liquefied natural gas and ammonia facilities.

The company’s bottom line is expected to have benefited from strong fee-based contracts, as more than 90% of its revenues are likely to have been generated from such contracts.

The ramp-up in well completions in the Rocky Mountain and Mid-Continent regions during the previous quarters likely contributed to stronger earnings and boosted natural gas gathering and processing volumes.

During the previous quarters, ONEOK increased its stake in BridgeTex Pipeline Company, LLC, to 60% and acquired the remaining interest in Delaware G&P LLC, gaining greater control over assets. These strategic acquisitions are expected to have yielded significant cost savings and synergies, further boosting the company's profitability in the fourth quarter.

However, higher interest expenses likely trimmed some of the gains in the quarter to be reported.

OKE’s Q4 Expectations

The Zacks Consensus Estimate for earnings is pegged at $1.50 per share, indicating a year-over-year decrease of 4.5%.

The Zacks Consensus Estimate for revenues is pinned at $9.49 billion, calling for a year-over-year jump of 35.6%.

The Zacks Consensus Estimate for Raw feed throughput is pinned at 1,650.68 thousand barrels of natural gas liquid per day, suggesting 
26.4% year-over-year growth. 

The Zacks Consensus Estimate for Natural gas processing volumes is pegged at 5,825.78 million cubic feet of gas per day, implying a 0.4% dip from that reported in the third 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 -1.45%. 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).

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.

California Resources CRC is set to post fourth-quarter 2025 results on March 2, before market open. It has an Earnings ESP of +9.28% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for earnings is pinned at 49 cents per share. The Zacks Consensus Estimate for sales stands at $786.7 million.

Gevo, Inc. GEVO is expected to report fourth-quarter 2025 results on March 5, after market close. It currently has an Earnings ESP of +10% and a Zacks Rank of 3. 

The Zacks Consensus Estimate for earnings is pegged at a loss of 3 cents per share, which implies a year-over-year surge of 66.7%. The Zacks Consensus Estimate for sales stands at $43.5 million, which suggests a massive year-over-year improvement of 663.5%.

TXO Partners LP TXO is slated to report fourth-quarter 2025 results soon. It has an Earnings ESP of +57.90% and a Zacks Rank of 3 at present.

The Zacks Consensus Estimate for earnings is pinned at 10 cents per unit. The Zacks Consensus Estimate for sales stands at $111.1 million, which calls for a year-over-year rise of 24.4%.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

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

Zacks Investment Research