← Back to all signals
OKE · Q1 2026

ONEOK INC /NEW/

Reported 2026-04-28
BEAT
43EarnIQ signal
↗

Confidence rising

Mild quarter-over-quarter shift

Strong volume growth, increased guidance, and solid execution position ONEOK for a robust fiscal 2026.

  • ✓Guidance was raised, with high specificity.
  • ✓Management tone registered as confident (85/100).
  • ✓EarnIQ detected 0 potential management deflections.
Headline–confidence gap

Headline confirmed

Management confidence reinforces the reported beat.

EPS: reported vs expected—— vs —
Revenue: reported vs expected—— vs —
Guidance specificityHighRaised
Market expectations are being matched to this report.

Strong performance across multiple business segments, supported by a constructive market environment, is strengthening our forward outlook, building momentum through the year and supporting increased 2026 financial guidance expectations.

Premium intelligence

The evidence behind the signal

Full report
Management language

Why confidence moved

“ONEOK’s first-quarter performance reflects year-over-year volume growth and continued operational execution across our integrated asset portfolio”
“Strong performance across multiple business segments, supported by a constructive market environment, is strengthening our forward outlook, building momentum through the year and supporting increased 2026 financial guidance expectations.”
“ONEOK Announces 12% Increase in First-Quarter 2026 Net Income and 13% Increase in Adjusted EBITDA”
Guidance specificity
90/100

High specificity

ONEOK raised its 2026 net income guidance to a range of $3.21 billion to $3.79 billion (midpoint $3.5 billion) and adjusted EBITDA to a range of $8.0 billion to $8.5 billion (midpoint $8.25 billion).

Pressure point
!

The impact on drilling and

0 potential deflections detected in management communication.

Narrative break

What changed

No material narrative break was detected this quarter.

Q&A evidence

Management responses

No material Q&A deflections were detected.

Key positives
  • 12% increase in first-quarter net income to $776 million ($1.23 per diluted share).
  • 13% increase in adjusted EBITDA to $2.0 billion, supported by robust asset optimization and marketing activities.
  • Significant volume increases, including a 15% increase in NGL raw feed throughput and a 31% increase in the Gulf Coast/Permian region.
Key risks
  • The impact on drilling and production by factors beyond our control, including commodity demand, regulatory compliance, and pipeline capacity constraints.
  • The volatility of natural gas, NGL, refined products, and crude oil prices driven by geopolitical instability and international conflicts.
  • Exposure to construction risk, supply risks, and potential operational hazards or unforeseen interruptions across the integrated pipeline network.
Topic velocity

Language versus prior quarter

M&ANew
CostNew
ChinaNew
MarginNew
RecordNew
iPhoneNew
Signal composition

What drove the EarnIQ score

Tone+20
Eps Beat+0
Guidance+15
New Signal+0
Miss Penalty+0
Qoq Improvement+8
Deflection Penalty+0