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ONEOK (OKE) guidance and outlook
ONEOK (OKE) raised its guidance on Oct 27, 2026: Net income $4.1B–$4.3B for FY2026; EBITDA $8.5B–$8.6B for FY2026; Capital expenditures $3.5B for FY2026. ONEOK's 10-Q filed Oct 28, 2026 makes 26 forward-looking statements, 8 of them new and 1 no longer said since the filing before.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| Net income | FY2026 | $4.1B–$4.3B | raised |
| EBITDA | FY2026 | $8.5B–$8.6B | raised |
| Capital expenditures | FY2026 | $3.5B | raised |
From the earnings release filed Oct 27, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Oct 28, 2026
- Each of our four reportable segments is primarily fee-based, and we expect our consolidated earnings to be approximately 90% fee-based in 2026.
- For our Texas City Logistics, MBTC Pipeline, Cutter I plant, Cutter II plant and Eiger joint venture projects, the amounts presented exclude capital contributions from the other joint venture members.
- new · In addition, we expect to place Cassidy I, a 330 MMcf/d processing plant in the Permian Basin, into service in the fourth quarter of 2026.
- updated · Capital expenditures increased for the three and nine months ended September 30, 2026, compared with the same periods in 2025, due primarily to the timing of payments on our large capital projects.
- Please refer to the “Recent Developments” section of Management’s Discussion and Analysis of Financial Condition and Results of Operations in this Quarterly Report for additional information on our capital projects.
- updated · • $19 million decrease from higher operating costs due primarily to $11 million of higher outside services related to the timing of projects and $7 million of higher employee-related costs associated with the growth of our operations.
- updated · • $27 million decrease from higher operating costs due primarily to $19 million of higher outside services related to the timing of projects and $11 million of higher employee-related costs associated with the growth of our operations.
- new · Capital expenditures increased for the three and nine months ended September 30, 2026, compared with the same periods in 2025, due primarily to increased expenditures on large capital projects including our Bighorn plant in the Permian Basin and the processing plants in the Powder River Basin, offset partially by the timing of expenditures on routine projects and the completion of the Permian Basin plant…
- We generally expect ethane volumes to increase or decrease with corresponding increases or decreases in overall NGL production.
- new · • $10 million decrease from higher operating costs due primarily to the timing of projects and the growth of our operations.
- new · • $25 million decrease from higher operating costs due primarily to $12 million of higher employee-related costs associated with the growth of our operations and $9 million of higher outside services related to the timing of projects.
- Our natural gas transportation capacity contracted increased for the three and nine months ended September 30, 2026, compared with the same periods in 2025, due primarily to expansion projects and increased volumes contracted.
ONEOK's latest quarter
ONEOK, Q3 2026: revenue $12.5B (+44% year over year), operating margin 12.6%, net earnings $1.4B, operating cash flow $1.4B. The chart follows the revenue to costs, profit and cash.
Questions
Did ONEOK raise or lower its guidance?
ONEOK (OKE) raised its guidance on Oct 27, 2026: Net income $4.1B–$4.3B for FY2026; EBITDA $8.5B–$8.6B for FY2026; Capital expenditures $3.5B for FY2026.
What does ONEOK expect?
In addition, we expect to place Cassidy I, a 330 MMcf/d processing plant in the Permian Basin, into service in the fourth quarter of 2026. Capital expenditures increased for the three and nine months ended September 30, 2026, compared with the same periods in 2025, due primarily to the timing of payments on our large capital projects. • $19 million decrease from higher operating costs due primarily to $11 million of higher outside services related to the timing of projects and $7 million of higher employee-related costs associated with the growth of our operations.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.