ONEOK (OKE) Revenue — Quarter Ended Jun 30, 2023
Revenue declined in the current quarter compared with both the prior quarter and the same quarter last year. The sequential decrease was less severe than the year-over-year drop.
Key takeaway
Quarter ended Jun 30, 2023 · FY2023 Q2
Revenue declined in the current quarter compared with both the prior quarter and the same quarter last year. The sequential decrease was less severe than the year-over-year drop.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$3.7B
Revenue reported for this quarter.
Quarter-over-quarter
-17.5%
Change from the immediately preceding quarter.
Year-over-year
-37.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$19.2B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Sep 30, 2022 | $5.9B | +30.4% |
| Dec 31, 2022 | $5B | -7.2% |
| Mar 31, 2023 | $4.5B | -17.0% |
| Jun 30, 2023 | $3.7B | -37.8% |
Revenue performance
The reported revenue moved lower for the quarter. The company noted increased volumes in the current quarter versus the year-ago period, driven by higher producer activity in key regions.
Quarterly comparison
Revenue fell from the immediately preceding quarter and was also lower than the same quarter one year earlier. The year-over-year decline was larger than the sequential decline.
What to watch
Monitor the impact of commodity price exposure and volumetric risk on future revenue, as the company has hedged a portion of forecasted equity volumes.