ONEOK, Inc. (NYSE: OKE) announced its financial results for the quarter ended September 30, 2026, and updated its full-year financial guidance. The company reported net income attributable to ONEOK of $1.35 billion for the third quarter of 2026, representing $2.13 per diluted share. This compares to net income attributable to ONEOK of $939 million, or $1.49 per diluted share, for the same period in 2025. Adjusted EBITDA for the third quarter of 2026 was $2.24 billion, an increase of 6% compared to the prior year period.
Operational highlights for the third quarter included a 6% increase in NGL raw feed throughput volumes, with a specific 16% rise in the Gulf Coast/Permian region. Refined products volumes shipped increased by 6%, and Permian region natural gas volumes processed rose by 4%. The company also extinguished nearly $5.5 billion of debt principal in September 2026 and completed a $9 billion minority equity investment. Additionally, ONEOK acquired the Brazos Midstream Permian Midland Basin assets and received credit rating upgrades from S&P Global Ratings and Fitch Ratings to BBB+.
Based on the strong performance, ONEOK increased its 2026 financial guidance. The company now expects net income to be between $4.09 billion and $4.27 billion, with a midpoint of $4.18 billion. Net income attributable to ONEOK is expected to be between $3.965 billion and $4.005 billion, with a midpoint of $3.985 billion. Diluted earnings per share are projected to be between $6.27 and $6.33, with a midpoint of $6.30. Adjusted EBITDA is expected to be between $8.5 billion and $8.6 billion, with a midpoint of $8.55 billion. Total 2026 capital expenditures are expected to be approximately $3.5 billion.
The updated guidance incorporates the contributions from the recently completed Brazos Permian Midland acquisition, which is expected to add approximately $75 million, with about $50 million reflected in adjusted EBITDA net of transaction costs. The company also declared a quarterly dividend of $1.07 per share in October 2026.
