Equity Profile

OKE

ONEOK, Inc.

EnergyOil & Gas Storage & Transportation$58.4B

Apr28Tue

Post-Earnings Recap

ReportedQ1-2026After Close4:15 PM EDT

ONEOK Misses on EPS, Stock Up 2.32%

Metric	Actual	Expected	Surprise
EPS	$1.23	$1.31	-3.91%
Revenue	N/A	$8.7B	N/A

management commentary, guidance changes, and full analysis available with Pro.

ONEOK Misses on EPS, Stock Up 2.32%

Key Numbers

Metric	Actual	Expected	Surprise
EPS	$1.23	$1.31	-3.91%
Revenue	N/A	$8.7B	N/A

Management Commentary

Tone: Cautiously Optimistic

Overall, management conveyed a sense of cautious optimism despite missing EPS expectations. They emphasized their commitment to strategic investments.

Management acknowledged the challenging market conditions but expressed confidence in long-term growth.

They highlighted ongoing investments in infrastructure as a key focus for the future.

What It Means

ONEOK's earnings report indicates some pressure on profitability, as reflected in the EPS miss. However, the stock rose by 2.32%, likely due to management's positive outlook on long-term growth and infrastructure investments. Investors may be reassured by the company's strategic focus despite the short-term earnings setback.

Company Snapshot

ONEOK, Inc. is a major player in the energy sector, focusing on the storage and transportation of oil and gas....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of the company's profitability and financial health.

$1.31

Revenue

Total revenue gives insight into the company's overall sales performance and market demand.

$8.7B

Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

ONEOK, Inc. is a major player in the energy sector, focusing on the storage and transportation of oil and gas. With a market cap of $55 billion, the company plays a crucial role in the energy supply chain, making it significant for both energy markets and investors interested in the oil and gas industry.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

+0.82%

Avg Stock Reaction

+0.09%

Last Quarter Recap

In the last quarter, ONEOK reported an EPS of $1.55, slightly beating expectations. The stock remained stable following the earnings release.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts are cautiously optimistic about ONEOK's upcoming earnings, expecting it to meet or slightly exceed EPS and revenue estimates.

Bull Case

If ONEOK can leverage strong demand for natural gas and improve operational efficiencies, it could exceed earnings expectations and see a positive stock reaction.

Bear Case

Conversely, if the company faces challenges such as rising costs or lower demand, it may miss earnings expectations, leading to a negative market reaction.

Key Metrics to Watch

EPS

$1.31

Earnings per share is a key indicator of the company's profitability and financial health.

Revenue

$8.7B

Total revenue gives insight into the company's overall sales performance and market demand.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will ONEOK's EPS exceed the consensus estimate of $1.31?

A beat on EPS could signal strong operational performance and boost investor confidence.

What does management say about revenue growth in the current market environment?

Insights into revenue growth will help gauge the company's ability to navigate market challenges and capitalize on opportunities.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate ONEOK's ability to capitalize on rising natural gas demand, which could lead to stronger-than-expected revenue growth.

Supporting Evidence

Recent performance shows a consistent ability to beat EPS estimates, suggesting operational strength.

The options market indicates heightened volatility, which may reflect investor uncertainty about the consensus outlook.

Key Risk

If revenue growth significantly outpaces expectations, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is focused on ONEOK's ability to manage costs and maintain revenue growth amid fluctuating energy prices.

Bull Confirmed If

Earnings exceeding $1.31 per share with revenue surpassing $8.7 billion would confirm the bull case.

Bear Confirmed If

Earnings below $1.24 per share or revenue below $6.8 billion would support the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±6.98%

Historical Avg

±0.8%

Pricing rich

The options market is pricing in a significant potential movement in the stock, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±5.7% while OKE has averaged ±0.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.4%

30d HV

25.7%

Calls (96K)P/C Ratio: 0.49Puts (47K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If ONEOK beats expectations, history suggests the stock could rise by an average of 0.93%, confirming positive market sentiment.

In-Line / Cautious

A cautious in-line report may lead to muted reactions as investors assess management's commentary on future guidance.

Miss

If ONEOK misses expectations, history indicates an average decline of 1.11%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on operational efficiencies that could impact margins.
2Management's outlook on natural gas demand and pricing trends.
3Details on cost management strategies in the current economic environment.
4Insights into any new projects or expansions that could drive future growth.

See the full picture

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Company Snapshot

ONEOK, Inc. is a major player in the energy sector, focusing on the storage and transportation of oil and gas....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of the company's profitability and financial health.

$1.31

Revenue

Total revenue gives insight into the company's overall sales performance and market demand.

$8.7B

Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

+0.82%

Avg Stock Reaction

+0.09%

Last Quarter Recap

In the last quarter, ONEOK reported an EPS of $1.55, slightly beating expectations. The stock remained stable following the earnings release.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts are cautiously optimistic about ONEOK's upcoming earnings, expecting it to meet or slightly exceed EPS and revenue estimates.

Bull Case

If ONEOK can leverage strong demand for natural gas and improve operational efficiencies, it could exceed earnings expectations and see a positive stock reaction.

Bear Case

Conversely, if the company faces challenges such as rising costs or lower demand, it may miss earnings expectations, leading to a negative market reaction.

Key Metrics to Watch

EPS

$1.31

Earnings per share is a key indicator of the company's profitability and financial health.

Revenue

$8.7B

Total revenue gives insight into the company's overall sales performance and market demand.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will ONEOK's EPS exceed the consensus estimate of $1.31?

A beat on EPS could signal strong operational performance and boost investor confidence.

What does management say about revenue growth in the current market environment?

Insights into revenue growth will help gauge the company's ability to navigate market challenges and capitalize on opportunities.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate ONEOK's ability to capitalize on rising natural gas demand, which could lead to stronger-than-expected revenue growth.

Supporting Evidence

Recent performance shows a consistent ability to beat EPS estimates, suggesting operational strength.

The options market indicates heightened volatility, which may reflect investor uncertainty about the consensus outlook.

Key Risk

If revenue growth significantly outpaces expectations, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is focused on ONEOK's ability to manage costs and maintain revenue growth amid fluctuating energy prices.

Bull Confirmed If

Earnings exceeding $1.31 per share with revenue surpassing $8.7 billion would confirm the bull case.

Bear Confirmed If

Earnings below $1.24 per share or revenue below $6.8 billion would support the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±6.98%

Historical Avg

±0.8%

Pricing rich

The options market is pricing in a significant potential movement in the stock, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±5.7% while OKE has averaged ±0.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.4%

30d HV

25.7%

Calls (96K)P/C Ratio: 0.49Puts (47K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If ONEOK beats expectations, history suggests the stock could rise by an average of 0.93%, confirming positive market sentiment.

In-Line / Cautious

A cautious in-line report may lead to muted reactions as investors assess management's commentary on future guidance.

Miss

If ONEOK misses expectations, history indicates an average decline of 1.11%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on operational efficiencies that could impact margins.
2Management's outlook on natural gas demand and pricing trends.
3Details on cost management strategies in the current economic environment.
4Insights into any new projects or expansions that could drive future growth.