Short answer
Oneok (OKE) filed its Q3 2025 10-Q quarterly report on Oct 29, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $8.6B (up 71.9% year over year) with net income of $939M.
Q3 2025 key financials · XBRL
- Revenue
- $8.6B
- +71.9% YoY · +9.5% QoQ
- Net income
- $939M
- +35.7% YoY · +11.7% QoQ
- Operating margin
- 18.0%
- EPS (diluted)
- $1.49
- +26.3% YoY · +11.2% QoQ
Source: XBRL data from the Oneok (OKE) Q3 2025 10-Q on SEC EDGAR. USD.
Oneok Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $8.63B, up $3.61B YoY for Q3 2025; driven by commodity sales $7.42B vs $4.08B YoY
- Operating income margin ~18.1% (operating income $1.56B on $8.63B revenue) vs ~22.5% (operating income $1.13B on $5.02B) Q3 2024
- Best segment: Natural Gas Liquids adjusted EBITDA $2.06B Q3 2025, up $209M YoY; worst: Natural Gas Pipelines modest adjusted EBITDA growth $34M increase Q3 2025
- Cash & equivalents $1.2B at 9/30/25; operating cash flow $4.05B YTD, up $776M YoY; capital expenditures $2.18B YTD, up $723M YoY
- Management expects 90% fee-based earnings in 2025, monitors tariffs and commodity price impacts, sees no material volume changes yet, and anticipates $2.8B-$3.2B capex for 2025
Risk Factors
- No material changes to risk factors from most recent 10-K
- Continued market risks include commodity price volatility impacting earnings
- Regulatory compliance risks from evolving environmental laws remain significant
- Operational risks from pipeline maintenance and safety critical for near-term performance
- Financial risks include exposure to interest rate fluctuations on debt obligations
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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