ONEOK Announces Higher Third-Quarter 2026 Earnings and Increases 2026 Financial Guidance
Date
Oct 27, 2026
By
ONEOK Media
KEY HIGHLIGHTS
- Extinguished nearly $5.5 billion of debt principal in September 2026
- Completed $9 billion minority equity investment
- Completed the acquisition of Brazos Midstream’s Permian Midland Basin assets
- Credit ratings upgraded to BBB+ by S&P Global Ratings and Fitch Ratings
FINANCIAL SNAPSHOT
- Net Income: $1.38 Billion
- Adjusted EBITDA: $2.24 Billion
- Operating Income: $1.57 Billion
OPERATIONS SUMMARY
Volume growth led by record Permian Basin volumes:
- 6% increase in NGL raw feed throughput volumes, including a 16% increase in the Gulf Coast/Permian region
- 6% increase in refined products volumes shipped
- 4% increase in Permian region natural gas volumes processed
Performance drivers: The quarter’s results benefited from higher natural gas liquids (NGL), refined products and natural gas volumes and higher optimization and marketing activity.
2026 GUIDANCE
- 2026 Net Income: $4.09-4.27B ($4.18 billion midpoint; increased)
- 2026 Net Income Attributable to ONEOK: $3,890-$4,080B ($3.985B midpoint; increased)
- Earnings Per Diluted Share: $6.15-$6.45 ($6.30 midpoint; increased)
- 2026 Adjusted EBITDA: $8.50-$8.60B ($8.55 billion midpoint; increased)
Outlook drivers: The increase in financial guidance reflects strong year-to-date business performance and volumes, and incorporates expected contributions from the recently completed Brazos Permian Midland acquisition of approximately $75 million, with approximately $50 million expected to be reflected in adjusted EBITDA net of transaction costs.
CEO QUOTE
Higher Permian Basin volumes and the continued execution by our employees to integrate our systems contributed to ONEOK’s third-quarter results...
Pierce H. Norton II, President and CEO of ONEOK
“Higher Permian Basin volumes and the continued execution by our employees to integrate our systems contributed to ONEOK’s third-quarter results,” said Pierce H. Norton II, president and CEO. “Based on this performance and our outlook for the remainder of the year, we are once again raising our 2026 financial guidance, reflecting the momentum we continue to see across the business.”
“As we look to 2027, we expect meaningful earnings growth from our Brazos Permian Midland Basin assets, recently completed and advancing growth projects and continued commercial optimization across our systems,” added Norton. “ONEOK has the assets, financial strength and discipline to capture growing energy demand and deliver sustainable long-term value for investors.”
DOWNLOADABLE DIGITAL ASSETS
ONEOK increases financial guidance to reflect strong year-to-date business performance and volumes and incorporates expected contributions from the recently completed Brazos Permian Midland acquisition.
ONEOK achieved record Permian Basin volumes in the third quarter of 2026, contributing to higher year-over-year financial results.
ONEOK’s integrated infrastructure supported higher third-quarter year-over-year 2026 performance, including an increase in natural gas liquids, natural gas and refined products
ONEOK announces higher third-quarter 2026 earnings and increases 2026 financial guidance.
Contacts:
Investor Relations:
Megan Patterson
918-561-5325
ONEOKInvestorRelations@oneok.com
Media Relations:
Alicia Keenom
918-861-3749
Media@oneok.com
Forward-looking statements: Certain statements in this story are forward-looking and subject to risks and uncertainties. Actual results may differ materially from those projected. See a discussion of the factors that could affect such forward-looking statements in the accompanying earnings release.
Non-GAAP (generally accepted accounting principles) financial measures: This story includes adjusted EBITDA, a non-GAAP financial measure used by ONEOK to evaluate operating performance. Adjusted EBITDA should not be considered a substitute for net income or other GAAP measures. A reconciliation of adjusted EBITDA to the most directly comparable GAAP measure is available on ONEOK's website.
At ONEOK (NYSE: OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation, storage and marine export services. Through our approximately 60,000-mile pipeline network, we transport the natural gas, natural gas liquids (NGLs), refined products and crude oil that help meet domestic and international energy demand, contribute to energy security and provide safe, reliable and responsible energy solutions needed today and into the future. As one of the largest integrated energy infrastructure companies in North America, ONEOK is delivering energy that makes a difference in the lives of people in the U.S. and around the world.
ONEOK is an S&P 500 company headquartered in Tulsa, Oklahoma.
For information about ONEOK, visit www.oneok.com. For the latest news, visit the ONEOK newsroom or find us on LinkedIn, Facebook, X and Instagram.
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