ONEOK Raises 2026 Guidance Following Record Quarter

ONEOK reported a 13 percent year-over-year increase in second-quarter net income, totaling $967 million. This growth was driven by record natural gas liquids volumes and increased pipeline marketing activity.

Following these results, the company raised its full-year 2026 net income guidance to a range between $3.41 billion and $3.79 billion, with a midpoint of $3.6 billion. The company also increased its adjusted EBITDA forecast to a range of $8.2 billion to $8.5 billion.

Financial growth was primarily supported by natural gas pipelines, which benefited from contributions from the Northern Border and Matterhorn Express pipelines, as well as price differentials between the Waha gas hub and the Katy market. In early August, the company also announced the mechanical completion of its Greater Denver refined products pipeline expansion.