Summary
ONEOK Inc. (OKE) filed an 8-K on December 19, 2003, primarily to provide its 2004 earnings per share (EPS) guidance. The company projects 2004 EPS to be in the range of $2.12 to $2.18. This guidance incorporates the anticipated closing of the Wagner & Brown Ltd. reserve acquisition on December 22, 2003. Additionally, ONEOK reaffirmed its 2003 EPS guidance, expecting results to be at the upper end of the previously stated $2.08 to $2.12 range from continuing operations. The company also noted segment adjustments to its 2003 forecast due to commodity price movements and weather conditions. The filing also includes a comprehensive list of forward-looking statements and associated risk factors that could impact future performance.
Key Highlights
- 1ONEOK Inc. issued 2004 EPS guidance of $2.12 to $2.18 per share.
- 2The 2004 guidance includes the impact of the Wagner & Brown Ltd. reserve acquisition, expected to close on December 22, 2003.
- 3The company reaffirmed its 2003 EPS guidance, expecting to finish at the upper end of the $2.08 to $2.12 range from continuing operations.
- 4Segment adjustments were made to the 2003 forecast due to commodity price movements and weather.
- 5The filing contains a detailed discussion of forward-looking statements and associated risks and uncertainties.
- 6The company's principal executive offices are located in Tulsa, OK.
Frequently Asked Questions
The primary purpose of this 8-K filing is to provide ONEOK Inc.'s earnings guidance for the upcoming fiscal year 2004 and to reaffirm its guidance for the current fiscal year 2003.
The 2004 earnings per share guidance of $2.12 to $2.18 explicitly includes the financial impact expected from the Wagner & Brown Ltd. reserve acquisition, which was scheduled to close on December 22, 2003.
ONEOK reaffirmed its 2003 earnings guidance, expecting results to be at the upper end of the $2.08 to $2.12 per share range from continuing operations. However, certain business segment forecasts for 2003 were adjusted due to commodity price changes and weather patterns.
The company highlights a broad range of risks and uncertainties that could materially affect its actual results. These include risks related to credit ratings, weather, competition, capital intensity, deregulation, acquisition profitability, marketing and trading activities, economic conditions, reserve estimates, commodity price volatility, government policies, accounting pronouncements, geopolitical events, interest rate changes, and potential future acquisitions or litigation.