Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Oneok Q4 Profit Rises

RELATED NEWS
Trade OKE now with 

Diversified energy company Oneok Inc. (OKE: Quote) Monday reported a 38 percent increase in profit for the fourth quarter, as its principal subsidiary ONEOK Partners posted stronger operating results.

Oklahoma-based Oneok's fourth-quarter net income was $115.0 million or $1.09 per share, compared to $83.1 million or $0.76 per share unit on a split-adjusted basis last year. On average, nine analysts polled by Thomson Reuters expected earnings of $1.06 per share. Analysts' estimates typically exclude special items.

Revenues for the quarter rose to $4.07 billion from $3.28 billion last year period.

Analysts expected revenues of $5.17 billion for the quarter.

Chief Executive John Gibson said, "Our ONEOK Partners segment turned in another exceptional quarter, as continued strong natural gas liquids price differentials and higher natural gas liquids and natural gas volume growth resulted in increased fourth-quarter results."

"Our natural gas distribution segment delivered solid results for the fourth quarter, while our energy services segment continues to face a challenging market," Gibson said.

The group's principal subsidiary Oneok Partners L.P.'s (OKS: Quote) net income for the quarter was $298.6 million or $1.26 per unit, compared to $142.3 million or $0.54 per unit on a split-adjusted basis for the fourth quarter 2010. Analysts expected earnings of $1.09 per unit for the quarter.

Oneok Partners engages in gathering, processing, ractionating, transporting, storing, and marketing natural gas and natural gas liquids.

ONEOK also increased its 2012 net income guidance to the range of $360 million to $410 million, compared to the previous range of $355 million to $400 million. The updated guidance reflects higher expected earnings in the ONEOK Partners segment offset partially by lower expected earnings in the energy services segment.

Register
To receive FREE breaking news email alerts for ONEOK Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Home improvement and building products company Masco Corp. said Monday after the markets closed that its second quarter profit jumped 78% from last year, as revenue increased and margins improved amid strong performance of its Plumbing Products, Installation and Other Services and Decorative Architectural Products segments. American Financial Group Inc. (AFG) Monday reported second-quarter net earnings of $106 million or $1.15 per share, compared to $110 million or $1.20 per share last year. Core net operating earnings were $99 million or $1.07 per share, compared to $87 million or $0.96 per share last year. Total... Stocks showed a significant recovery over the course of the trading day on Monday after coming under pressure in early trading. The markets eventually ended the session roughly flat following the mixed performance that was seen last week.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.