For the quarter ended June 2023, Oneok Inc. (OKE) reported revenue of $3.73 billion, down 37.8% over the same period last year. EPS came in at $1.04, compared to $0.92 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $4.13 billion, representing a surprise of -9.56%. The company delivered an EPS surprise of +4.00%, with the consensus EPS estimate being $1.00.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Oneok performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Raw feed throughput - Natural Gas Liquids: 1399 MBbl/d compared to the 1283.73 MBbl/d average estimate based on two analysts.
- Adjusted EBITDA- Natural Gas Liquids: $530 million versus the two-analyst average estimate of $531.40 million.
- Adjusted EBITDA- Natural Gas Pipelines: $126 million versus $111.44 million estimated by two analysts on average.
- Adjusted EBITDA- Natural Gas Gathering and Processing: $314 million compared to the $306.61 million average estimate based on two analysts.
Shares of Oneok have returned +5% over the past month versus the Zacks S&P 500 composite's +0.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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