Pipeline operator ONEOK reported a fall in first-quarter profit on Tuesday as it booked higher operating costs and capital expenditures. The company reported net income of $639 million, or $1.09 per share, for the three months ended March 31, compared with $1.05 billion, or $2.34 per share, last year. Analysts had expected net income of $1.15 per share.
Insight into ONEOK's Financial Performance and Strategic Adjustments
Oneok (OKE) delivered earnings and revenue surprises of -3.54% and 18.19%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?