Yahoo Finance ONEOK (OKE) Misses Q4 Earnings & Revenue Estimates
ONEOK Inc. OKE reported fourth-quarter 2015 operating earnings of 45 cents per share, missing the Zacks Consensus Estimate of 46 cents by 2.17%. Earnings were flat year over year.
The company's GAAP earnings in the fourth quarter were 12 cents compared with 45 cents in the year-ago quarter.
Oneok Inc. - Earnings Surprise | FindTheBest
Full-year 2015 operating earnings were $1.19 per share, 21.7% lower than the prior-year figure and 20% below the Zacks Consensus Estimate.
Total Revenues
ONEOK’s total revenues of $1,931 million fell short of the Zacks Consensus Estimate of $2,288 million by 15.6% in the fourth quarter. Revenues tumbled 32% year over year mainly due to a decline in commodity sales.
Full-year 2015 revenues came in at $7,763.2 million, 36.3% lower than the prior-year figure.
Quarterly Highlights
In the fourth quarter, ONEOK Inc. spent nearly $1,333 million on cost of sales and fuel, down 41.5% from the prior-year level.
Operating income came in at $242 million in the fourth quarter, down 21% year over year.
In the quarter, the company incurred $110.7 million as interest expenses, up 28% year over year.
Financial Condition
As of Dec 31, 2015, ONEOK had cash and cash equivalents of $97.6 million compared with $172.8 million as of Dec 31, 2014. The company’s long-term debt (excluding current maturities) was $8,323.6 million as of Dec 31, 2015, compared with $7,150.1 million as of Dec 31, 2014.
In 2015, the company’s cash flow from operating activities was $1,007 million, down 21.7% from $1,285.6 million in the year-ago period. Capital expenditures were $1,188.3 million, down 33.2% from $1,779 million in the prior-year period.
Guidance
The company provided a dividend coverage ratio guidance of 1.3 and free cash flow guidance of $250 million for 2016.
Other Peer Releases
ONE Gas, Inc. OGS reported fourth-quarter earnings of 74 cents per share, beating the Zacks Consensus Estimate of 73 cents per share by 1.37%.
National Fuel Gas Company NFG reported fourth-quarter earnings of 78 cents per share, missing the Zacks Consensus Estimate of 79 cents per share by 1.27%.
New Jersey Resources Corp. NJR is reported fourth-quarter results of 91 cents, missing the Zacks Consensus Estimate of 92 cents per share by 1.09%.
Zacks Rank
ONEOK Inc. currently has a Zacks Rank #3 (Hold).
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