ONEOK, Inc.: EPS $2.13 vs $1.50 expected; revenue $12.5B vs $10.5B
Key Facts
Q3 FY2026 results
| Metric | Actual | Estimate | Surprise | Year ago |
|---|---|---|---|---|
| EPS (USD) | 2.13 | 1.50 | +42.0% | 1.49 |
| Revenue (USD bn) | 12.46 | 10.54 | +18.2% | 8.63 |
Recent reports: actual vs estimate
| Reported | Period | EPS (USD) | Estimate | Surprise | Revenue (USD bn) | Estimate | Surprise |
|---|---|---|---|---|---|---|---|
| Oct 27, 2026 | Q3 FY2026 | 2.13 | 1.50 | +42.0% | 12.46 | 10.54 | +18.2% |
| Aug 3, 2026 | Q2 FY2026 | 1.53 | 1.46 | +4.8% | 12.05 | 8.95 | — |
| Apr 28, 2026 | Q1 FY2026 | 1.23 | 1.30 | −5.4% | 9.62 | 8.23 | +16.8% |
| Feb 23, 2026 | Q4 FY2025 | 1.55 | 1.50 | +3.3% | 9.07 | 8.75 | +3.6% |
| Oct 28, 2025 | Q3 FY2025 | 1.49 | 1.44 | +3.5% | 8.63 | 8.78 | −1.7% |
| Aug 4, 2025 | Q2 FY2025 | 1.34 | 1.33 | +0.8% | 7.89 | 7.69 | +2.6% |
| Apr 29, 2025 | Q1 FY2025 | 1.04 | 1.24 | −16.1% | 8.04 | 6.57 | +22.4% |
| Feb 24, 2025 | Q4 FY2024 | 1.57 | 1.46 | +7.5% | 7.00 | 6.18 | +13.2% |
Source: Figures from the EL7 database. Estimates are the analyst consensus carried by our data vendor (FMP), not official figures.
ONEOK, Inc. results: EPS $2.13 vs $1.50 expected; revenue $12.5B vs $10.5B. The results cover the company's Q3 FY2026. EPS came in above analysts' estimate by 42.0%; revenue above the estimate by 18.2%.
Revenue was up 44.3% from $8.6 billion a year earlier (Q3 FY2025). EPS was up 43.0% from $1.49 a year earlier. On its record, EPS topped analysts' estimates in 5 of 7 earlier comparable reports.
What the results mean
ONEOK’s business connects natural gas production areas with processing facilities, storage assets, and transportation and distribution networks. This integration frames its operations as a chain of energy infrastructure services, with business drivers tied to gas flows, facility utilization, and demand for its services.
Its natural gas liquids business spans gathering, treating, fractionation, transportation, storage, marketing, and distribution. Interpreting revenue growth therefore requires examining the contribution of these activities and the nature of their revenue; growth alone does not establish improved service profitability or asset operating efficiency.
What to watch on the earnings call: The earnings call warrants attention to management’s explanation of revenue growth drivers, including their relationship to activity volumes and service mix, alongside utilization of processing, transportation, and storage facilities. Operating costs, asset spending, and how network integration translates into margins and cash flow also merit discussion.
For the full analysis of ONEOK, Inc. stock — valuation, scores and financial statements — see the stock page linked with this story.