ONEOK's second quarter 2026 earnings beat expectations on record volumes, prompting a full-year guidance increase.

ONEOK reported second quarter 2026 revenue of $12.05 billion and diluted earnings per share of $1.53, beating analyst estimates. The company also raised its financial guidance for the full year 2026, citing strong performance and a constructive market environment.

Key Highlights

• Net income for the second quarter increased 13% year-over-year to $967 million, with adjusted EBITDA growing 7% to $2.12 billion.
• The company achieved record Natural Gas Liquids (NGL) raw feed throughput volumes, which grew 7% year-over-year to 1,630 thousand barrels per day (MBbl/d).
• Full-year 2026 guidance was raised, with the midpoint for net income now at $3.6 billion and adjusted EBITDA at $8.35 billion.