ONEOK Sees 2024 Net Income Midpoint Of $2.8B; Adjusted EBITDA Midpoint Of $6.1B; ~$1.75B-$1.95B In Total Capital Expenditures
Portfolio Pulse from Benzinga Newsdesk
ONEOK projects a 2024 net income midpoint of $2.8 billion and adjusted EBITDA midpoint of $6.1 billion, with capital expenditures between $1.75 billion and $1.95 billion. The company attributes this growth to record volumes, the Magellan acquisition, and operational momentum. ONEOK's strategy focuses on capital growth, maintaining a strong balance sheet, dividend growth, and share repurchases, aiming to maximize investor value and enhance its position in providing essential energy services.
February 26, 2024 | 9:17 pm
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ONEOK anticipates a 2024 net income midpoint of $2.8 billion and adjusted EBITDA midpoint of $6.1 billion, with significant growth attributed to the Magellan acquisition and operational momentum. The company's focus on capital growth, dividend growth, and share repurchases is aimed at maximizing investor value.
ONEOK's positive earnings guidance for 2024, highlighting significant growth and strategic acquisitions, is likely to instill confidence in investors about the company's future performance and operational strength. This, combined with a focus on shareholder value through dividends and share repurchases, suggests a positive short-term impact on OKE's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100