Summary
ONEOK Inc. (OKE) filed an 8-K on March 27, 2007, to report its quarterly earnings guidance for fiscal year 2007. The company reaffirmed its previously issued annual earnings guidance, projecting diluted earnings per share to be in the range of $2.35 to $2.75. This filing provides investors with specific per-quarter estimates, which is crucial for understanding the anticipated progression of earnings throughout the year and for performance evaluation against internal expectations. The quarterly guidance indicates a front-loaded earning potential for 2007, with the first quarter estimated to be the strongest, ranging from $1.31 to $1.41 per diluted share. Subsequent quarters show progressively lower estimates, with the fourth quarter projected to be between $0.62 and $0.72. Investors should note the significant spread in quarterly earnings, which may reflect seasonal factors or specific project timings within ONEOK's operations.
Key Highlights
- 1ONEOK reaffirmed its 2007 annual diluted earnings per share guidance to be between $2.35 and $2.75.
- 2The company provided specific quarterly earnings guidance for 2007.
- 3First quarter 2007 estimated earnings are projected to be between $1.31 and $1.41 per diluted share.
- 4Second quarter 2007 estimated earnings are projected to be between $0.33 and $0.43 per diluted share.
- 5Third quarter 2007 estimated earnings are projected to be between $0.09 and $0.19 per diluted share.
- 6Fourth quarter 2007 estimated earnings are projected to be between $0.62 and $0.72 per diluted share.
- 7The filing references a previous 8-K (filed November 29, 2006) for reconciliations of distributable cash flow to EBITDA and EBITDA to net income.