OKE · Full Picture

ONEOK INC /NEW/ — the full picture

Earnings window · 2026-07-14 to 2026-08-10 · anchored on the 10-Q report

One earnings window, everything merged: the filing, the call, press releases and news digests, folded into ranked threads.

What to look at first

  1. Capital Expenditure Program · Capital expenditurePriority 80
    +4.8% assets; 2 sources (news, sec_filing); 12 forward row(s); structured_verified
    Texas City Logistics export terminal approximate cost: $700 million; scope: 400 MBbl/d liquified petroleum gas export terminal in Texas City, Texas; expected completion Early 2028.
  2. Revenue Performance and Mix · Revenue growth & mixPriority 78
    +68.5% revenue (realized); 2 sources (news, sec_filing); 1 forward row(s); quote_verified
    Q2 revenue exceeded Wall Street estimates by $3.10 billion and represented a 52.77% year-over-year increase
  3. Guidance and Outlook · Guidance & outlookPriority 52
    2 forward row(s); quote_verified
    Company raised its 2026 net income guidance to a range of $3.41 billion to $3.79 billion
  4. Liquidity and Debt Position · Debt, leverage & refinancingPriority 51
    -0.8% liability; 2 sources (news, sec_filing); 2 forward row(s); structured_verified
    In April 2026, we entered into a $1.2 Billion Term Loan Agreement available to be drawn in up to two borrowings within 90 days of the closing date; borrowings bear interest at Term SOFR plus an applicable margin of 95 basis points; matures 364 days after June 23, 2026.
  5. Operating Cash Flow Trends · Cash flow generationPriority 49
    +3.1% cash (realized); structured_verified
    For the six months ended June 30, 2026, our cash flows from operations exceeded dividends paid by $1.6 billion.
  6. Manufacturing Capacity Expansion · Supply chain & operationsPriority 48
    2 sources (news, sec_filing); 1 forward row(s); quote_verified
    In our Natural Gas Gathering and Processing segment, we completed the relocation of a 150 MMcf/d processing plant to the Permian Basin from North Texas, which went into service in the first quarter of 2026.
  7. Segment Profitability · Operating income & profitabilityPriority 48
    +3.8% net_income (realized); quote_verified
    Operating income for the three months ended June 30, 2026: $1,593 million; for the three months ended June 30, 2025: $1,431 million; increase of $162 million.
  8. Dividend Declaration · Buybacks & dividendsPriority 44
    2 sources (news, sec_filing); 2 forward row(s); quote_verified
    We declared a quarterly common stock dividend of $1.07 per share in July 2026 to be paid on August 14, 2026 to shareholders of record at the close of business on August 3, 2026.
  9. Interest Rate and Refinancing Exposure · Interest ratesPriority 44
    quote_verified
    If our credit ratings were downgraded, our cost to borrow funds under our $3.5 Billion Credit Agreement could increase, and a potential loss of access to the commercial paper market could occur.
  10. Equity Capital Raise · Equity issuance & dilutionPriority 42
    quote_verified
    Company announced a US$1 billion at-the-market common stock offering
  11. Acquisition / Partnership / Divestiture · M&A and divestituresPriority 30
    quote_verified
    Company provided updates on expansion projects including Denver-area refined-products expansion and Permian Basin processing plant expansions
  12. Supply Chain Constraints · Supply chain & operationsPriority 30
    quote_verified
    We proactively monitor lead times on materials and equipment used in constructing capital projects and enter into procurement agreements for long-lead items for potential projects to plan for future growth.

Threads by pillar

Revenue & Demand Priority 82 · 3 threads

Costs & Margins Priority 61 · 3 threads

Capital & Balance Sheet Priority 89 · 5 threads

Strategy & Portfolio Priority 30 · 1 thread

Guidance & Outlook Priority 52 · 1 thread

Macro & Market Conditions Priority 49 · 2 threads

Expected impact by metric

metricforward netforward grossrealized
cash-4.1%+5.6%+2.6%
assets+4.8%+4.8%+0.1%
liability-0.8%+0.8%—
operating_income——+1.3%
net_income——+3.8%
revenue——+68.5%