ONEOK: Q1 Earnings Insights

ONEOK (NYSE:OKE) reported its Q1 earnings results on Tuesday, May 2, 2023 at 04:15 PM.

Here's what investors need to know about the announcement.

ONEOK beat estimated earnings by 11.96%, reporting an EPS of $2.34 versus an estimate of $2.09.

Revenue was down $924.00 million from the same period last year.

Last quarter the company beat on EPS by $0.05 which was followed by a 3.66% drop in the share price the next day.

Here's a look at ONEOK's past performance:

Quarter	Q4 2022	Q3 2022	Q2 2022	Q1 2022
EPS Estimate	1.03	0.96	0.90	0.89
EPS Actual	1.08	0.96	0.92	0.87
Revenue Estimate	6.03B	6.12B	5.18B	3.19B
Revenue Actual	5.03B	5.91B	6.00B	5.45B

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

ONEOK management provided guidance for FY 2023, expecting earnings between $5.03 and $5.69 per share.

To track all earnings releases for ONEOK visit their earnings calendar here.

This article was generated by Benzinga's automated content engine and reviewed by an editor.