Oneok Inc.

Strong Financial Performance: ONEOK reported a record net income of $923 million ($1.57 per share) in Q4 2024, and a full-year net income of $3 billion ($5.17 per share). Adjusted EBITDA for Q4 was nearly $2.2 billion, while the full-year figure exceeded $6.7 billion, supported by strategic acquisitions and volume growth.

2025 Financial Guidance: The company anticipates an 8% increase in earnings per share (EPS) to a midpoint of $5.37 for 2025, alongside a projected 21% increase in adjusted EBITDA to $8.225 billion. The growth will largely stem from a full year of earnings from recent acquisitions and increased production volumes.

2026 Growth Outlook: ONEOK expects EPS growth of greater than 15% and adjusted EBITDA growth near 10% as new projects and synergies, particularly from the EnLink and Medallion acquisitions, come online. Key contributors will include completed pipeline expansions and enhanced natural gas and NGL infrastructure.