ONEOK (OKE) Revenue — Quarter Ended Jun 30, 2024
Revenue increased for the quarter, driven by higher NGL and natural gas processing volumes, increased transportation services, and contributions from the refined products and crude segment. The company also completed a pipeline acquisition in the Gulf Coast during the period.
Key takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue increased for the quarter, driven by higher NGL and natural gas processing volumes, increased transportation services, and contributions from the refined products and crude segment. The company also completed a pipeline acquisition in the Gulf Coast during the period.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$4.9B
Revenue reported for this quarter.
Quarter-over-quarter
+2.4%
Change from the immediately preceding quarter.
Year-over-year
+31.1%
Change from the comparable year-ago quarter.
Trailing four quarters
$19.1B
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, 2023 | $4.2B | -29.2% |
| Dec 31, 2023 | $5.2B | +4.0% |
| Mar 31, 2024 | $4.8B | +5.8% |
| Jun 30, 2024 | $4.9B | +31.1% |
Revenue performance
The reported revenue was higher compared to both the immediately preceding quarter and the same quarter one year earlier, reflecting continued operational momentum across the segments.
Quarterly comparison
Revenue rose modestly from the prior quarter and showed a strong increase from the same period a year ago, supported by higher processing volumes and expanded services.
What to watch
The integration of the recently acquired Gulf Coast NGL pipelines and planned connections to Houston assets could impact future revenue contributions.