Oneok

OKE · Energy · Market cap $55.7B

Q1 FY26 Mar 31, 2026 reported Apr 29, 2026

Revenue$9.6B +20% year over year

Gross profit$2.6B

Operating profit$1.4B

Net profit$0.8B 8% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
Item	Value	Share of revenue	Year over year
Revenue	9.6	100%	+20%
Liquids Commodity	7.3	76%	+23%
Residue Natural Gas Sales	1.1	11%	+15%
Transportation and Storage	0.8	8%	−3%
Exchange Services and Natural Gas…	0.3	3%
Cost of revenue	−7.1	74%
Gross profit	2.6	27% margin	−3pp
Operating expenses	−1.1	12%	+0pp
Operating profit	1.4	15% margin	+0pp
Tax	−0.2
Interest & other costs	−0.4
Net profit	0.8	8%	+0pp

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	9.1	100%	+30%
Liquids Commodity	7	77%	+33%
Transportation and Storage	0.9	10%	−2%
Residue Natural Gas Sales	0.9	10%	+53%
Exchange Services and Natural Gas…	0.3	3%	+17%
Cost of revenue	−6.4	70%
Gross profit	2.7	29% margin	−6pp
Operating expenses	−1.1	13%	+0pp
Operating profit	1.5	17% margin	−5pp
Tax	−0.2
Interest & other costs	−0.3
Net profit	1	11%	−2pp

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	8.6	100%	+72%
Liquids Commodity	6.7	78%	+73%
Transportation and Storage	0.8	9%	+4%
Residue Natural Gas Sales	0.8	9%	+243%
Exchange Services and Natural Gas…	0.4	5%
Cost of revenue	−6	70%
Gross profit	2.7	31% margin	−9pp
Operating expenses	−1.1	13%	+0pp
Operating profit	1.6	18% margin	−4pp
Tax	−0.4
Interest & other costs	−0.3
Net profit	0.9	11%	−3pp

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	7.9	100%	+61%
Liquids Commodity	6	76%	+58%
Transportation and Storage	0.7	9%	+6%
Residue Natural Gas Sales	0.7	9%	+311%
Exchange Services and Natural Gas…	0.4	5%
Cost of revenue	−5.4	68%
Gross profit	2.5	32% margin	−9pp
Operating expenses	−1.1	14%	+0pp
Operating profit	1.4	18% margin	−7pp
Tax	−0.3
Interest & other costs	−0.3
Net profit	0.8	11%	−5pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q1 FY26	Mar 31, 2026	Apr 29, 2026	$9.6B	+20%	15%	$0.8B	8%
Q4 FY25	Oct 1 – Dec 31, 2025	Feb 24, 2026	$9.1B	+30%	16%	$1B	11%
Q3 FY25	Jul 1 – Sep 30, 2025	Oct 29, 2025	$8.6B	+72%	19%	$0.9B	11%
Q2 FY25	Apr 1 – Jun 30, 2025	Aug 5, 2025	$7.9B	+61%	18%	$0.8B	11%