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Oneok boosts Q4, full-year 2017 adjusted earnings

Oneok Inc. on Feb. 26 reported fourth-quarter 2017 adjusted EBITDA of $547.7 million, an increase from $474.1 million in the prior-year period. The S&P Global Market Intelligence consensus adjusted EBITDA estimate was $551.6 million.

The company's distributable cash flow for the quarter was $366.0 million, up from $318.3 million in the prior-year period. Oneok reported net income of $63 million, down from $90.5 million a year earlier.

The oil and gas pipeline company reported full-year 2017 adjusted EBITDA of $1.99 billion, up from $1.85 billion in the prior-year period. The S&P Global Market Intelligence consensus estimate for full-year adjusted EBITDA was $1.98 billion.

Distributable cash flow for the year was $1.38 billion, up from $1.32 billion in the prior-year period. ONEOK reported net income of $387.8 million, up from $352.0 million a year earlier.