Record Earnings Growth
ONEOK announced higher fourth quarter and full year 2024 earnings driven by strategic acquisitions, volume growth, and synergy execution. The company expects strong earnings growth in 2025 with a greater than 15% EPS growth and adjusted EBITDA growth approaching 10% by 2026.
Significant Acquisitions and Expansions
ONEOK successfully integrated strategic acquisitions including EnLink and Medallion, contributing to a robust pipeline network of approximately 60,000 miles, enhancing connectivity and operational scale.
Strong Financial Position
ONEOK ended 2024 with more than $730 million in cash on hand, no commercial paper outstanding, and a net debt-to-EBITDA ratio of 3.6x. The company returned nearly $2.5 billion to shareholders through dividends and share repurchases.
LPG Export Project Joint Venture
Announced a strategic joint venture with MPLX to construct a 400,000 barrel per day LPG export terminal in Texas City, Texas, enhancing their product offerings with a wellhead-to-water solution.
Synergy and Growth Projects
2025 financial guidance includes $250 million of incremental commercial and cost synergies from acquisitions. Projects like the NGL pipeline expansions and new LPG export dock are expected to drive future growth.