ONEOK, Inc., OKE is scheduled to release its third-quarter 2026 results on Oct. 27, after market close. The Zacks Consensus Estimate for earnings is currently pegged at $1.46 per share on revenues of $11.77 billion.
Third-quarter earnings estimates have declined 2.01% over the past 60 days. The Zacks Consensus Estimate for quarterly revenues indicates a year-over-year increase of 36.34%.
OKE Stock’s Earnings Surprise History
ONEOK’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 5.01%.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for ONEOK this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is exactly the case here, as you can see below.
ONEOK, Inc. Price and EPS Surprise
ONEOK, Inc. price-eps-surprise | ONEOK, Inc. Quote
You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
OKE’s Earnings ESP: ONEOK has an Earnings ESP of +1.74%.
Zacks Rank of OKE: The company currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Some companies in the same industry with the right combination of the two factors for an earnings beat this season are Enterprise Products Partners EPD, Plains All American Pipeline PAA and Energy Transfer ET. EPD, PAA and ET currently have an Earnings ESP of +9.09%, +5.10% and +3.24%, respectively. Presently, EPD and PAA carry a Zacks Rank #2 each, while ET has a Zacks Rank #3.
Key Drivers Expected to Have Boosted OKE’s Q3 Results
ONEOK is expected to have benefited from favorable seasonal trends and higher transportation volumes in the third quarter of 2026. Improved operating conditions and increased refined products shipments, supported by higher gasoline and distillate demand during the summer travel season, are likely to have boosted its quarterly performance.
Additionally, Federal Energy Regulatory Commission (“FERC”) tariff adjustments implemented in July are expected to have supported transportation revenues. Contributions from the Denver refined products pipeline expansion, scheduled for mechanical completion in the third quarter, might have further strengthened the company's operational performance.
ONEOK's natural gas liquids and gathering and processing operations are expected to have benefited from sustained throughput volumes and stable fee-based earnings during the quarter.
The planned completion of 110 million cubic feet per day of processing capacity expansions in the Delaware Basin during the third quarter is likely to have strengthened its processing capabilities and support volume growth.
However, fluctuations in commodity prices, operating expenses and project execution might have partially offset these benefits.
OKE Stock Returns Better Than Its Industry
Return on equity (“ROE”) is a financial ratio that measures how well a company uses its shareholders’ equity to generate profits. The company's current ROE indicates that it is using shareholders’ funds more efficiently than peers.
ONEOK’s trailing 12-month ROE is 16.41%, ahead of the industry average of 14.22%.
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OKE Stock’s Price Performance
OKE’s shares have gained 31.6% in the past year compared with the Zacks S&P 500 composite’s rise of 15.8%.
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ONEOK, Inc. (OKE): Free Stock Analysis Report
Plains All American Pipeline, L.P. (PAA): Free Stock Analysis Report
Enterprise Products Partners L.P. (EPD): Free Stock Analysis Report
Energy Transfer LP (ET): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).