ONEOK (OKE) Beats Q2 Earnings Estimates, Misses Revenues
Zacks Investment Research | Jul 31, 2019 08:19AM ET
ONEOK Inc. (NYSE:OKE) reported second-quarter 2019 operating earnings of 75 cents per share, which surpassed the Zacks Consensus Estimate of 70 cents by 7.14%. The bottom line also improved 10.3% on a year-over-year basis.
Notably, higher natural gas liquids (NGL) and natural gas volume processed, increase in average fee rates in the NGLs and natural gas gathering and processing segments as well as increased transportation services in the natural gas pipelines segment drove results.
Total Revenues
Total revenues came in at $2.46 billion, which missed the Zacks Consensus Estimate of $2.70 billion by 9.02%. The top line also declined 17% from $2.96 billion recorded in the prior-year quarter due to lower Commodity sales.
ONEOK, Inc. Price, Consensus and EPS Surprise
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