ONEOK Q1 2024 GAAP EPS $1.09 Misses $1.14 Estimate, Sales $4.781B Miss $6.151B Estimate
Portfolio Pulse from Benzinga Newsdesk
ONEOK (NYSE:OKE) reported Q1 2024 earnings of $1.09 per share, missing the consensus estimate of $1.14. Quarterly sales were $4.781 billion, below the expected $6.151 billion, marking a 5.75% increase from the previous year.
April 30, 2024 | 8:50 pm
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NEGATIVE IMPACT
ONEOK's Q1 2024 earnings and sales missed analyst estimates, with EPS at $1.09 and sales at $4.781B, indicating a potential short-term negative impact on its stock price.
Missing both earnings and sales estimates, especially by significant margins such as 22.27% for sales, typically leads to negative investor sentiment and can cause short-term stock price declines. The fact that this is a financial performance report directly impacts investor perceptions and the company's valuation.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100