ONEOK recorded higher first quarter earnings of $691 million in net income or $1.04 per share compared to a year ago, but below the earnings of the previous quarter.
ONEOK recorded improved earnings in the first quarter, revealing $691 million in net income or $1.04 per diluted share.
The company had adjusted EBITDA of $1.78 billion, thanks to a 15% increase in Rocky Mountain region NGL raw feed and a 7% gain in processed gas volumes from the Rocky Mountain region.
However, net income in the fourth quarter of 2024 was $1 billion and adjusted EBITDA of $2.17 billion.
“ONEOK’s solid first quarter results highlight the strength of our integrated system, disciplined growth strategy and dedicated employees,” said Pierce H. Norton II, ONEOK president and chief executive officer.
“Higher year-over-year volumes in the Rocky Mountain region, along with contributions from recent strategic acquisitions and growth initiatives, drove performance during the quarter,” added Norton. “We expect continued execution on acquisition-related synergies, the completion of organic growth projects and the demand for our services to support growth throughout 2025, creating additional shareholder value.”
ONEOK reported first quarter 2025 net income attributable to ONEOK and adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) of $636 million and $1.78 billion, respectively.
Results were partially offset by increased operating costs due primarily to higher employee-related costs from the growth of ONEOK’s operations, and no earnings in 2025 from assets divested in 2024.
Additionally, first quarter 2025 adjusted EBITDA included $31 million of transaction costs related primarily to the EnLink acquisition.
Members of ONEOK’s management team will participate in a conference call at 11 a.m. Eastern (10 a.m. Central) on April 30, 2025. The call will also be webcast.
