ONEOK Q1 net income rises to $1.05B on insurance settlement; underlying volumes up; affirms 2023 guidance

ONEOK INC /NEW/

2023-Q1 EPS reported $2.34 revenue$4,521,000,000

Net income $1.049B ($2.34 diluted EPS) vs $391M ($0.87) YoY; includes $733M pre-tax insurance settlement gain.
Adjusted EBITDA $1.717B (settlement-included); ex-settlement implied ~$984M vs $864M YoY.
Natural gas gathering & processing segment EBITDA up 32% to $283M; NGL segment up 143% to $1.281B (largely settlement).
Completed Demicks Lake III plant (200 MMcf/d) and MB-5 fractionator (125,000 bpd); Moody's upgraded rating to Baa2.
Quarterly dividend maintained at $0.955/share ($3.82 annualized); redeeming $500M 7.5% notes due Sept 2023 with cash.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ONEOK INC /NEW/ reported the quarter ended March 31, 2023 results: net income $1,049 million, EPS $2.34 per diluted share. Guidance reaffirmed.

Period: the quarter ended March 31, 2023
Net income: $1,049 million
EPS: $2.34 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On May 2, 2023, we announced our results of operations for the quarter ended March 31, 2023, and affirmed full-year 2023 financial guidance.

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Source: SEC EDGAR

accession 0001039684-23-000034

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