ONEOK boosts 2026 forecast as higher NGL volumes boost quarterly profit

ONEOK (Oklahoma)

03/08/2026 23:24

Aug 3 (Reuters) - U.S. pipeline operator ONEOK OKE.N on Monday raised its 2026 earnings forecast for the second time this year, banking on record natural gas liquids raw feed throughput volumes.
Pipeline operators in the U.S. are gaining from increased oil and gas output in the Permian Basin and rising natural gas demand amid record LNG exports.
 Here are more details:
ONEOK, which transports natural gas, natural gas liquids (NGL), refined products and crude oil through its 60,000-mile-long network of pipelines, expects net profit for 2026 to be between $3.41 billion and $3.79 billion from $3.21 billion to $3.79 billion previously.
For the April-June quarter, adjusted EBITDA jumped 7% to $2.12 billion, from $1.98 billion a year ago.
"Higher volumes across ONEOK's businesses, including record NGL volumes, drove another consecutive quarter of earnings growth," said ONEOK President and CEO Pierce H. Norton II.
Quarterly NGL raw feed throughput volumes rose 7% from last year, including a 15% increase in the Gulf Coast/Permian region.
The Tulsa, Oklahoma-based company also increased its annual adjusted EBITDA forecast to between $8.2 billion and $8.5 billion, from $8 billion to $8.5 billion previously.

 (Reporting by Akshaya V in Bengaluru; Editing by Diti Pujara)
 ((AkshayaV@thomsonreuters.com;))