What is the primary driver of ONEOK's financial performance in the first quarter of 2011?

The primary drivers appear to be increased volumes and favorable fee structures within ONEOK's natural gas gathering and processing segments, leading to a significant rise in net income compared to the prior year.

Where can I find more detailed information about ONEOK's financial condition and operational results?

More detailed information can be found in the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section on pages 30-49 of the filing.

Are there any significant legal proceedings or risk factors mentioned in this report?

While Item 1. Legal Proceedings and Item 1A. Risk Factors are listed, this summary focuses on the financial performance. Investors should refer to those specific sections within the 10-Q filing for details on legal matters and potential risks.

What is the significance of the Consolidated Statements of Changes in Equity?

The Consolidated Statement of Changes in Equity provides details on how the shareholders' equity changed during the three months ended March 31, 2011, reflecting factors like net income, dividends, and other equity transactions.

OKE 10-Q Quarterly Report Q2 FY2011 — Revenue, Net Income, EPS

Summary

ONEOK Inc.'s (OKE) first quarter 2011 results show a strong performance driven by increased volumes and favorable fee structures across its natural gas gathering and processing segments. Net income rose significantly compared to the prior year period, indicating operational improvements and effective management of its assets. The company's strategic focus on expanding its midstream infrastructure appears to be translating into tangible financial benefits, positioning OKE for continued growth. Investors should note the positive trends in revenue and profitability. The company's balance sheet remains solid, with prudent management of debt and equity. While specific details on capital expenditures and future projects are found within the full MD&A, the overall financial health presented in this quarterly report suggests a company executing well on its business strategy and delivering value to shareholders.

Financial Highlights

49 data points

Beta

Revenue

$3.44B

0.2% Gross Margin

Net Income

$55.14M

0.0% Net Margin

EPS (Diluted)

$0.25

Total Assets

$13.04B

Cash & Equivalents

$472.18M

Free Cash Flow

-$101.28M

Financial Statements

Beta

Revenue	$3.44B
Cost of Revenue	$2.93B
Gross Profit	$518.83M
Operating Expenses	$302.40M
Operating Income	$216.22M
Interest Expense	$75.50M
Net Income	$55.14M
EPS (Basic)	$0.26
EPS (Diluted)	$0.25
Shares Outstanding (Basic)	211K
Shares Outstanding (Diluted)	216K

Key Highlights

1Significant increase in net income for the three months ended March 31, 2011, compared to the same period in 2010, indicating improved profitability.
2The report details Consolidated Statements of Income, Balance Sheets, and Cash Flows, providing a snapshot of the company's financial performance and position.
3Management's Discussion and Analysis (MD&A) section (pages 30-49) offers in-depth insights into the company's operational results, financial condition, and market risks.
4The company is actively involved in natural gas gathering and processing, with growth likely driven by increased volumes and potentially favorable commodity prices.
5Key financial statements are presented, including those related to income, balance sheet, cash flows, changes in equity, and comprehensive income, offering a comprehensive view of financial activities.
6Notes to the Consolidated Financial Statements (pages 13-29) provide crucial details and explanations for the reported figures, essential for a thorough understanding.

ONEOK INC /NEW/ Quarterly Report for Q2 Ended May 4, 2011

Summary

Financial Highlights

Key Highlights

Frequently Asked Questions