Q3 2024 ONEOK Inc Earnings Call Transcript
Key Points
- ONEOK Inc (OKE) increased its full-year 2024 financial guidance for the second time this year, highlighting strong fee-based earnings and synergy opportunities.
- The company's stand-alone 2024 adjusted EBITDA guidance is more than double its adjusted EBITDA from five years ago, showcasing significant growth.
- ONEOK Inc (OKE) completed the acquisition of controlling interest in Midstream and is finalizing the Medallion acquisition, expanding its footprint and growth potential.
- The company expects its total combined EBITDA for 2025 to be comfortably above $8 billion, indicating strong future financial performance.
- ONEOK Inc (OKE) reported record volumes in its refined products segment, driven by robust demand and strategic tariff adjustments.
- The completion of two third-party processing plants in the Permian Basin was delayed, impacting expected volume contributions.
- Ethane demand remains flat, with limited economic opportunities for recovery in certain regions, affecting potential revenue streams.
- The company experienced planned and unplanned outages in the Rocky Mountain region, impacting processing volumes.
- ONEOK Inc (OKE) faces challenges from severe weather events, such as wildfires in North Dakota, which disrupted operations and volumes.
- The integration of new acquisitions like EnLink and Medallion may present initial challenges in realizing expected synergies and efficiencies.
Good day, and welcome to the ONEOK third-quarter 2024 earnings conference call and webcast. (Operator Instructions). Please note, this event is being recorded.
I would now like to turn the conference over to Mr. Andrew Ziola, Vice President of Investor Relations. Please go ahead, sir.
Thank you, and welcome to ONEOK's third-quarter 2024 earnings call. We issued our earnings release and presentation after the markets closed yesterday, and those materials are on our website. After our prepared remarks, management will be available to take your questions.
Statements made during this call that might include ONEOK's expectations or predictions should be considered forward-looking statements and are covered by the Safe Harbor provision of the Securities Acts of 1933 and 1934. Actual results could differ materially from those projected in forward-looking statements. For a discussion of factors that could cause actual results to differ, please refer to our SEC filings.
Just a
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
