ONEOK Posts 11% Annual Income Growth Despite Fourth-Quarter Profit Decline

Key Facts

ONEOK, Inc. (NYSE: OKE) reported strong full-year 2025 financial results, highlighted by an 11% increase in net income driven by robust operational growth across its portfolio. The company's adjusted EBITDA also saw a significant 18% rise, reflecting the successful integration of newly acquired assets throughout the year. However, the company reported a decline in profit per share for the fourth quarter, contrasting with the overall annual growth. This dip was primarily caused by a sharp drop in earnings within the natural gas transportation segment following the 2024 divestiture of an interstate pipeline network. Alongside the results, ONEOK issued its 2026 financial guidance, outlining its strategic roadmap for future expansion and capital allocation. These mixed results underscore the impact of portfolio restructuring even as the company maintains strong overall annual momentum.