ONEOK, Inc. · OKE · Next earnings

ONEOK, Inc. reports Monday, Feb 22, 2027

OKE reports after market close with consensus EPS at $1.48 and revenue at $10.34B. Last quarter: ONEOK raises 2026 outlook after strong Q3 and Brazos integration

Reports After market close110 days awayDate estimated Energy

What the street expects

Consensus for the coming report
Consensus EPS $1.48 Calendar consensus
Consensus revenue $10.34B Calendar consensus
Report date Feb 22, 2027 Monday, date estimated
Session After market close 110 days away

Where OKE left off: FY2026 Q3

Full report

ONEOK raises 2026 outlook after strong Q3 and Brazos integration

EPS surprise +42.0% Reported $2.13 vs $1.50
Revenue surprise +0.5% Reported $10.60B vs $10.54B
Stock move -1.6% Event window
Subsequent drift 0.0% Up to 20 sessions

Raised: 2026 net income guidance to $4.18 billion and adjusted EBITDA guidance to $8.55 billion. Capital expenditures increased to roughly $3.5 billion.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Execution risk on Medford, Cassidy, Bighorn and other large capital projects.
  • Potential fractionation-capacity shortfalls relative to raw feed inventory.
  • Dependence on producer activity and rig counts across key basins.
  • Commodity-price and hedging exposure, including geopolitical volatility.
  • Questions around capital allocation, leverage capacity and integration of the Brazos assets.

Questions analysts left open

  • Seasonality and the modest Q4 outlook within 2026 guidance.
  • Adequacy of fractionation capacity as Medford comes online.
  • Capital allocation across NGL, natural-gas and refined-product projects.
  • The implications of the leverage-philosophy shift for future debt capacity.
  • Performance and integration of the Brazos assets.

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Recent OKE quarters

All OKE earnings
-1.6%FY2026 Q3-0.7%FY2026 Q2-0.5%FY2026 Q1-5.1%FY2025 Q4

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q3

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.