ONEOK Earnings: Keeping the Profitability Streak Alive
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ONEOK Inc. Earnings Cheat Sheet
Results: Net income for ONEOK Inc. rose to $65.2 million (31 cents per share) vs. $60.3 million (28 cents per share) in the same quarter a year earlier. This marks a rise of 8.1% from the year-earlier quarter.
Actual vs. Wall St. Expectations: ONEOK Inc. fell short of the mean analyst estimate of 32 cents per share.
The company has now come in under analyst forecasts for three quarters in a row. It missed the mark by 5 cents in the second quarter and by 14 cents in the first quarter.
Net income has increased 12.1% year-over-year on average across the last five quarters. The biggest gain came in the fourth quarter of the last fiscal year, when income climbed 38.4% from the year-earlier quarter.
Looking Forward: Over the past ninety days, the average estimate for the fourth quarter has fallen from 49 cents per share to 47 cents, indicating that analysts are growing pessisimistic about the company’s performance next quarter. For the fiscal year, the average estimate has moved down from $1.74 a share to $1.68 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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