ONEOK (OKE) Revenue — Quarter Ended Mar 31, 2024
Revenue for the current reporting quarter decreased sequentially from the prior quarter but increased compared with the same quarter one year earlier. The year-over-year growth was supported by the addition of the Refined Products and Crude segment from the Magellan Acquisition and stable volumes across the system despite winter weather, as noted in the filing.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue for the current reporting quarter decreased sequentially from the prior quarter but increased compared with the same quarter one year earlier. The year-over-year growth was supported by the addition of the Refined Products and Crude segment from the Magellan Acquisition and stable volumes across the system despite winter weather, as noted in the filing.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$4.8B
Revenue reported for this quarter.
Quarter-over-quarter
-8.7%
Change from the immediately preceding quarter.
Year-over-year
+5.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$17.9B
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 |
|---|---|---|
| Jun 30, 2023 | $3.7B | -37.8% |
| Sep 30, 2023 | $4.2B | -29.2% |
| Dec 31, 2023 | $5.2B | +4.0% |
| Mar 31, 2024 | $4.8B | +5.8% |
Revenue performance
The sequential decline reflects lower revenue compared with the immediately preceding quarter. The year-over-year improvement was supported by higher processed volumes in the Natural Gas Gathering and Processing segment and increased transportation services in the Natural Gas Pipelines segment, while the Natural Gas Liquids segment experienced lower volumes, as detailed in the filing.
Quarterly comparison
Revenue decreased from the immediately preceding quarter but increased from the same quarter one year earlier.
What to watch
Monitor the impact of winter weather on volumes and the integration of the Magellan Acquisition in future quarters.