8-KRegulation FDExhibits & Filings

ONEOK INC /NEW/ 8-K Report, Regulation FD Disclosure (Oct 4, 2010)

Filed October 4, 2010For Securities:OKE

Summary

ONEOK Inc. (OKE) filed an 8-K on October 4, 2010, primarily to disclose an update to its 2010 earnings guidance. The company now expects 2010 net income to fall within the range of $320 million to $335 million, representing an upward revision from the previously communicated range of $300 million to $335 million. This revised outlook suggests improved performance or a more optimistic view of future results for the company during the latter part of 2010. The filing also references a non-GAAP financial measure, stand-alone cash flow before changes in working capital, and provides a reconciliation from net income. Investors should review the accompanying news release (Exhibit 99.1) for a detailed understanding of this metric and its implications for ONEOK's financial health and operational efficiency beyond traditional net income reporting.

Key Highlights

  • 1ONEOK Inc. (OKE) updated its 2010 earnings guidance.
  • 2The revised 2010 net income expectation is between $320 million and $335 million.
  • 3This represents an increase from the previous guidance range of $300 million to $335 million.
  • 4The guidance update was effective as of September 30, 2010.
  • 5The filing includes a discussion of a non-GAAP financial measure: stand-alone cash flow before changes in working capital.
  • 6A reconciliation from net income to this non-GAAP measure is provided.
  • 7The relevant news release, dated September 30, 2010, is included as an exhibit.

Frequently Asked Questions

The main purpose of this 8-K filing is to publicly disclose an update to ONEOK Inc.'s (OKE) earnings guidance for the fiscal year 2010, as required by SEC regulations.

ONEOK has narrowed its expected 2010 net income range upwards. The new guidance is $320 million to $335 million, compared to the prior range of $300 million to $335 million. This suggests an improvement in their projected earnings.

This is a non-GAAP (Generally Accepted Accounting Principles) financial measure. It represents the company's cash flow generated from its operations excluding the impact of short-term fluctuations in working capital accounts (like accounts receivable, inventory, and accounts payable). Investors often look at this metric to get a clearer view of the underlying cash-generating ability of the business, independent of timing differences in working capital management.

More detailed information, including the news release dated September 30, 2010, which contains the guidance update and the discussion of the non-GAAP financial measure, is provided as Exhibit 99.1 to this 8-K filing.