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ONEOK (OKE) to Report Q1 Earnings: What's in the Cards?

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ONEOK, Inc. (OKE - Free Report) is scheduled to release first-quarter 2022 results on May 3 after market close. ONEOK delivered a negative earnings surprise of 3.41% in the last reported quarter.

Let’s see how things have been placed before the upcoming quarterly announcement.

Factors to Consider

The improving production volumes in the Rocky Mountain region, the increasing demand for natural gas and natural gas liquids and fee-based income are likely to have boosted first-quarter earnings. A significant reduction in debt is also likely to have improved financial margins in the first quarter.

First-quarter results are likely to benefit from completed growth projects in the Rockies region.

Expectations

The Zacks Consensus Estimate for first-quarter earnings per share is pegged at 89 cents, indicating a 3.5% rise from the year-ago quarter’s reported figure.

The Zacks Consensus Estimate for first-quarter 2022 revenues is pegged at $5.99 billion, indicating an 87.5% rise from the year-ago quarter’s reported figure.

What Our Quantitative Model Predicts

Our proven model predicts an earnings beat for ONEOK this time. 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, which is the case here as you will see below.

ONEOK, Inc. Price and EPS Surprise

ONEOK, Inc. Price and EPS Surprise

ONEOK, Inc. price-eps-surprise | ONEOK, Inc. Quote

Earnings ESP: ONEOK has an Earnings ESP of +0.52%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Currently, OKE carries a Zacks Rank #2.You can see the complete list of today’s Zacks #1 Rank stocks here.

Other Stocks to Consider

Investors can also consider the following players from the same industry who are likely to report positive earnings in the first quarter of 2022.

Enterprise Products Partners (EPD - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 2 before market open. Enterprise Products Partners has an Earnings ESP of +1.49% and carries a Zacks Rank #3 at present. The Zacks Consensus Estimate for EPD’s 2022 earnings implies year-over-year growth of 7.1%.

Energy Transfer (ET - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 4 after market close. Energy Transfer has an Earnings ESP of +34.15% and sports a Zacks Rank #1 at present. The Zacks Consensus Estimate for ET’s 2023 earnings implies year-over-year growth of 6.4%.

Plains All American Pipeline (PAA - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 4 after market close. Plains All American Pipeline has an Earnings ESP of +77.48% and carries a Zacks Rank #3 at present. The Zacks Consensus Estimate for PAA’s 2022 earnings implies year-over-year growth of 10.5%.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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