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Sep 30, 2024
ONEOK Q3 2024 Earnings Report
ONEOK announced higher third quarter 2024 earnings and increased 2024 financial guidance.
Key Takeaways
ONEOK reported a net income of $693 million and adjusted EBITDA of $1.55 billion for Q3 2024, driven by strong performance in the Rocky Mountain region, record refined product volumes, increased demand for natural gas transportation, and acquisition-related synergies. The company also increased its 2024 financial guidance for the second time this year.
Net income reached $693 million, resulting in $1.18 per diluted share.
Adjusted EBITDA amounted to $1.55 billion.
Rocky Mountain region NGL raw feed throughput volumes increased by 7%.
Natural Gas Pipelines segment adjusted EBITDA increased by 22%.
Forward Guidance
ONEOK increased its 2024 financial guidance, reflecting confidence in synergy expectations and fee-based earnings strength.
Positive Outlook
- Net income midpoint of $2.995 billion.
- Earnings per diluted share midpoint of $5.11.
- Adjusted EBITDA midpoint of $6.625 billion.
- Net income guidance range is $2.895 billion to $3.095 billion.
- Adjusted EBITDA guidance range of $6.525 billion to $6.725 billion.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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