ONEOK (OKE) Tops Q1 EPS by 8c

ONEOK (NYSE: OKE) reported Q1 EPS of $0.81, $0.08 better than the analyst estimate of $0.73.

• 27% increase in net income to $337.2 million, or 81 cents per diluted share.
• 12% increase in adjusted EBITDA to $637.5 million.
• 1.43 times dividend coverage ratio.
• 8% increase in NGL raw feed throughput volumes.
• 7% increase in natural gas volumes processed.

"Our capital-growth program remains on track and on budget, with our largest projects slated for completion beginning early in the third quarter of 2019 through the first quarter of 2020," said Terry K. Spencer, ONEOK president and chief executive officer. "Over the coming months, we expect to add critical NGL takeaway, fractionation and natural gas processing capacity for our customers where they need it most, providing ONEOK with substantial long-term earnings and cash flow growth.

"Continued strong producer activity and recent project completions resulted in solid first-quarter results that have positioned us well for the remainder of 2019," added Spencer.

For earnings history and earnings-related data on ONEOK (OKE) click here.

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