Filing Flows › ONEOK (OKE) › Q3 2026
ONEOK (OKE) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 28, 2026
ONEOK (OKE) reported revenue of $12.5B for the third quarter 2026 (Q3 2026), +44% from a year earlier and +3% from the quarter before. Operating margin was 12.6%, net earnings $1.4B (10.8% of revenue).
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.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $12.5B | +3% | +44% |
| Operating profit | $1.6B | -2% | +0.6% |
| Net earnings | $1.4B | +40% | +44% |
| Operating cash flow | $1.4B | -33% | -15% |
| Free cash flow | $442M | -69% | -46% |
What changed
Revenue was $12.5B in Q3 2026, up 44% year over year and up 3% from the previous quarter. Liquids commodity sales was the largest line at 83% of revenue. Liquids commodity sales added $3.7B year over year (up 55%), 97% of the total change. Exchange services and natural gas gathering and processing revenue declined 8%.
Operating profit was $1.6B, a 12.6% margin (down 5.5 points year over year). Of the extra revenue versus Q3 2025, 0% reached operating profit, below the 18% margin then. Total costs grew 54% against revenue growth of 44%. The fastest-growing cost line was Cost of revenue (+61%). Net earnings were $1.4B, up 44% year over year. The effective tax rate was -1.9%.
Operating cash flow was $1.4B (down 15% year over year), 100% of net income including minority interests. Non-cash charges added back $0.40B of depreciation and amortization. Working capital and other items used $0.40B. Capital expenditures of $0.94B left free cash flow of $0.44B.
Questions
What was ONEOK's revenue in the third quarter 2026?
ONEOK (OKE) reported revenue of $12.5B for the third quarter 2026 (Q3 2026), +44% from a year earlier and +3% from the quarter before.
Was ONEOK profitable in the third quarter 2026?
Operating profit was $1.6B (12.6% of revenue) and net earnings $1.4B.
Source: ONEOK 10-Q on SEC EDGAR.