Compared to Estimates, Oneok (OKE) Q4 Earnings: A Look at Key Metrics

By Zacks Equity Research | February 23, 2026, 6:30 PM

For the quarter ended December 2025, Oneok Inc. (OKE) reported revenue of $9.07 billion, up 29.5% over the same period last year. EPS came in at $1.55, compared to $1.57 in the year-ago quarter.

The reported revenue represents a surprise of -4.5% over the Zacks Consensus Estimate of $9.49 billion. With the consensus EPS estimate being $1.48, the EPS surprise was +4.73%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Oneok performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Raw feed throughput - Natural Gas Liquids: 1,586.00 MBBL/d versus the two-analyst average estimate of 1,650.68 MBBL/d.
  • Adjusted EBITDA- Natural Gas Liquids: $723 million compared to the $781.79 million average estimate based on two analysts.
  • Adjusted EBITDA- Refined Products & Crude: $567 million versus the two-analyst average estimate of $608.12 million.
  • Adjusted EBITDA- Natural Gas Pipelines: $261 million versus the two-analyst average estimate of $224.21 million.
  • Adjusted EBITDA- Natural Gas Gathering and Processing: $541 million versus $574.43 million estimated by two analysts on average.

View all Key Company Metrics for Oneok here>>>

Shares of Oneok have returned +12% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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

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