ONEOK Inc. (OKE) has reported a notable increase in its second-quarter earnings compared to the same period last year, surpassing Wall Street expectations.
The company posted a profit of $780 million, or $1.33 per share, up from $468 million, or $1.04 per share, in the second quarter of the previous year.
According to data from Thomson Reuters, analysts had, on average, projected earnings of $1.20 per share, with their estimates typically excluding special items.
Revenue for the quarter surged by 31.1%, rising to $4.89 billion from $3.73 billion a year earlier.
A snapshot of ONEOK Inc.'s GAAP earnings for Q2:
- Earnings: $780 million, compared with $468 million last year.
- EPS: $1.33, compared with $1.04 last year.
- Revenue: $4.89 billion, compared with $3.73 billion last year.
