Movement Alert|ONEOK Inc Falls 3.05% in Regular Trading, Q2 Earnings Beat but Full-Year Guidance Unchanged

Market Focus08-05

On August 4, ONEOK Inc fell 3.05% in regular trading, trading at $85.52/share, with turnover of approximately $302 million. The decline came after the company released second-quarter results that exceeded expectations on both the top and bottom lines, yet maintained its full-year earnings guidance unchanged.

ONEOK reported Q2 EPS of $1.53, up 14.18% year-over-year, beating the analyst consensus estimate of $1.46 by approximately 4.8%. Revenue surged to $12.05 billion from $7.89 billion a year earlier, far exceeding the $8.95 billion estimate. Despite this strong quarterly performance, the company maintained its full-year EPS guidance midpoint at $5.68, precisely matching the analyst consensus of $5.68, disappointing investors who anticipated a guidance raise following the robust quarter.

The unchanged outlook follows a pattern: after Q1 results in late April, ONEOK had raised its full-year EPS midpoint from $5.45 to $5.53. Heading into Q2, multiple analysts had adjusted their views, with Morgan Stanley downgrading to Equalweight and Jefferies downgrading to Hold in recent weeks, while Seaport Global raised its target to $100 maintaining a Buy rating.

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