Equity Profile

OKE

ONEOK, Inc.

EnergyOil & Gas Storage & Transportation$58.1B

Aug3Mon

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

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

Earnings Per Share (EPS)

EPS is a key measure of profitability and will indicate how well the company is managing costs and generating revenue.

N/A

Revenue Growth

Revenue growth is essential to assess the company's ability to expand its operations and market share in a competitive environment.

N/A

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

OKE Q2-2026 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 $58 billion, it plays a crucial role in the energy supply chain, especially as demand for natural gas continues to grow amid the shift towards cleaner energy sources.

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 Q1-2026, ONEOK reported an EPS of $1.23, slightly missing estimates by 3.91%. The stock reacted positively, gaining 2.32% the following day despite the miss.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations are mixed ahead of the earnings report, with some investors hoping for a rebound in EPS and revenue growth after a recent miss.

Bull Case

If ONEOK can demonstrate strong revenue growth and improved cost management, it may regain investor confidence and drive the stock higher.

Bear Case

Conversely, if the company fails to meet expectations again or provides weak guidance, it could lead to further declines in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will ONEOK's EPS exceed $1.28 this quarter?

A strong EPS figure could indicate improved operational efficiency and market conditions, which would be crucial for investor sentiment.

What is the outlook for revenue growth in the upcoming quarters?

Guidance on revenue growth will be critical for assessing the company's future performance and ability to capitalize on market opportunities.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may be underestimating the potential for a rebound in EPS and revenue growth, given the recent volatility in energy prices.

Supporting Evidence

Options are pricing a 13.22% move, indicating significant expectations for volatility, which may not align with historical performance.

The company's historical EPS beat rate of 63% suggests a better-than-expected performance could be on the horizon.

Key Risk

If EPS comes in above $1.30, it could significantly shift market sentiment and expectations for future growth.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is pivotal as it follows a recent miss, and investors are keenly watching for signs of recovery.

Bull Confirmed If

An EPS of $1.30 or higher would confirm the bull case and suggest strong operational performance.

Bear Confirmed If

An EPS below $1.20 would confirm the bear case, indicating ongoing challenges in profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±13.22%

Historical Avg

±0.8%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±13.2% while OKE has averaged ±0.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

33.8%

Calls (211K)P/C Ratio: 0.40Puts (71K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing rich setup in Energy

n=30

Fade rate: 17 of 29 (59%)

This setup has occurred 30 times across Energy in the last 2 years. 17 of 29 faded and 12 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 3.5%, with a raw directional average of -0.0% (roughly flat historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If ONEOK beats expectations, history suggests the stock could see a modest increase, confirming a positive trend in operational performance.

In-Line / Cautious

If results are in line with expectations, the stock may react cautiously, reflecting uncertainty in future growth prospects.

Miss

A miss could lead to a decline in stock price, as history indicates a tendency for negative reactions following earnings misses.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

1 buy·0 sells

Members

House only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on cost management strategies and their impact on profitability.
2Insights into the demand for natural gas and how it affects future revenue projections.
3Management's commentary on market conditions and competitive landscape.
4Details on any new projects or expansions that could drive future growth.
5Guidance on expected capital expenditures and their implications for cash flow.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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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

Earnings Per Share (EPS)

EPS is a key measure of profitability and will indicate how well the company is managing costs and generating revenue.

N/A

Revenue Growth

Revenue growth is essential to assess the company's ability to expand its operations and market share in a competitive environment.

N/A

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

OKE Q2-2026 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 Q1-2026, ONEOK reported an EPS of $1.23, slightly missing estimates by 3.91%. The stock reacted positively, gaining 2.32% the following day despite the miss.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations are mixed ahead of the earnings report, with some investors hoping for a rebound in EPS and revenue growth after a recent miss.

Bull Case

If ONEOK can demonstrate strong revenue growth and improved cost management, it may regain investor confidence and drive the stock higher.

Bear Case

Conversely, if the company fails to meet expectations again or provides weak guidance, it could lead to further declines in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will ONEOK's EPS exceed $1.28 this quarter?

A strong EPS figure could indicate improved operational efficiency and market conditions, which would be crucial for investor sentiment.

What is the outlook for revenue growth in the upcoming quarters?

Guidance on revenue growth will be critical for assessing the company's future performance and ability to capitalize on market opportunities.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may be underestimating the potential for a rebound in EPS and revenue growth, given the recent volatility in energy prices.

Supporting Evidence

Options are pricing a 13.22% move, indicating significant expectations for volatility, which may not align with historical performance.

The company's historical EPS beat rate of 63% suggests a better-than-expected performance could be on the horizon.

Key Risk

If EPS comes in above $1.30, it could significantly shift market sentiment and expectations for future growth.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is pivotal as it follows a recent miss, and investors are keenly watching for signs of recovery.

Bull Confirmed If

An EPS of $1.30 or higher would confirm the bull case and suggest strong operational performance.

Bear Confirmed If

An EPS below $1.20 would confirm the bear case, indicating ongoing challenges in profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±13.22%

Historical Avg

±0.8%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±13.2% while OKE has averaged ±0.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

33.8%

Calls (211K)P/C Ratio: 0.40Puts (71K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing rich setup in Energy

n=30

Fade rate: 17 of 29 (59%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If ONEOK beats expectations, history suggests the stock could see a modest increase, confirming a positive trend in operational performance.

In-Line / Cautious

If results are in line with expectations, the stock may react cautiously, reflecting uncertainty in future growth prospects.

Miss

A miss could lead to a decline in stock price, as history indicates a tendency for negative reactions following earnings misses.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

1 buy·0 sells

Members

House only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on cost management strategies and their impact on profitability.
2Insights into the demand for natural gas and how it affects future revenue projections.
3Management's commentary on market conditions and competitive landscape.
4Details on any new projects or expansions that could drive future growth.
5Guidance on expected capital expenditures and their implications for cash flow.