---
schema_version: "secwatch.filing_event.v1"
accession: "0001039684-23-000034"
form_type: "8-K"
ticker: "OKE"
cik: "0001039684"
company_name: "ONEOK INC /NEW/"
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T02:31:26.896216+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001039684-23-000034
- form_type: 8-K
- ticker: OKE
- cik: 0001039684
- company_name: ONEOK INC /NEW/
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1039684/000103968423000034/0001039684-23-000034-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1039684/000103968423000034/oke-20230502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001039684-23-000034
- JSON: https://secwatch.observer/filing/0001039684-23-000034.json
- Plain text: https://secwatch.observer/filing/0001039684-23-000034.txt

## Key facts
- Earnings Releases
  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
  source text: On May 2, 2023, we announced our results of operations for the quarter ended March 31, 2023, and affirmed full-year 2023 financial guidance.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1039684/000103968423000034/0001039684-23-000034-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.