Summary
ONEOK Inc. (OKE) filed its quarterly report for the period ending June 29, 2012, providing investors with a look into its financial performance and operational status. The company's results for the first six months of 2012 indicate a mixed financial picture, with revenue and net income showing fluctuations compared to the prior year. Investors should pay close attention to the company's strategies for managing its debt, its capital expenditures, and its outlook on the natural gas liquids (NGL) and natural gas transportation sectors, which are key drivers of its business. The report details the company's financial statements, including its income statement, balance sheet, and cash flow statement. Management's Discussion and Analysis (MD&A) section offers deeper insights into the factors affecting the company's results, such as commodity prices, regulatory changes, and expansion projects. A thorough review of these sections is crucial for understanding ONEOK's current financial health and its future prospects.
Financial Highlights
50 data points| Revenue | $2.53B |
| Cost of Revenue | $1.98B |
| Gross Profit | $548.96M |
| Operating Expenses | $315.85M |
| Operating Income | $234.08M |
| Interest Expense | $71.53M |
| Net Income | $60.99M |
| EPS (Basic) | $0.29 |
| EPS (Diluted) | $0.29 |
| Shares Outstanding (Basic) | 207.29M |
| Shares Outstanding (Diluted) | 211.78M |
Key Highlights
- 1Consolidated net income for the six months ended June 30, 2012, showed a decrease compared to the same period in 2011, driven by specific operational and financial factors detailed in the MD&A.
- 2Total revenues for the first six months of 2012 also experienced a decline year-over-year, reflecting market conditions and potentially lower volumes in certain segments.
- 3The company's balance sheet as of June 30, 2012, indicates a significant level of long-term debt, a common characteristic in the midstream energy sector, requiring ongoing management and refinancing strategies.
- 4Cash flow from operations for the six months ended June 30, 2012, demonstrated the company's ability to generate cash from its core business activities, although it may have been impacted by working capital changes.
- 5ONEOK's capital expenditures for the period were substantial, reflecting ongoing investments in infrastructure and growth projects, particularly within its natural gas gathering and processing, and NGL transportation segments.
- 6The company provided updates on legal proceedings and risk factors, which are essential for investors to assess potential liabilities and operational challenges.
- 7Management's Discussion and Analysis (MD&A) provides a detailed explanation of the results of operations, liquidity, and capital resources, offering context to the financial statements.