# ONEOK raises 2026 guidance after record Permian volumes

> Higher NGL, natural-gas and refined-products volumes lifted third-quarter results as ONEOK raised its 2026 outlook and completed the Brazos Permian acquisition.

Source page: https://stoqly.net/news/oneok-q3-2026-guidance-permian

- **Published:** 2026-10-31T17:08:00+00:00
- **Section:** Quarterly results
- **Company:** Oneok (OKE), https://stoqly.net/companies/oke.md

ONEOK reported **$1.38 billion of third-quarter net income** and **$2.24 billion of adjusted EBITDA**, saying higher natural-gas-liquids, refined-products and natural-gas volumes, along with increased optimization activity, drove year-over-year improvement.

NGL raw-feed throughput rose **6%**, including **16% in the Gulf Coast/Permian region**; refined-products volumes shipped increased **6%**, and Permian-region natural-gas volumes processed grew **4%**.

**Guidance raised** ONEOK now expects 2026 adjusted EBITDA of **$8.50–$8.60 billion** and diluted EPS of **$6.15–$6.45**. The company said the outlook incorporates about **$75 million** from the completed Brazos Permian Midland acquisition, with roughly $50 million expected in adjusted EBITDA net of transaction costs.

The quarter also followed several balance-sheet and portfolio actions: ONEOK said it extinguished nearly **$5.5 billion of debt principal** in September, completed a **$9 billion minority equity investment**, and received **BBB+ ratings from S&P Global Ratings and Fitch Ratings**. The release did not provide a comparable independent analyst-consensus figure, so this analysis uses the company-reported period and guidance data.

Management attributed the stronger outlook to year-to-date performance and volumes and said it expects meaningful earnings growth in 2027 from the Brazos assets, growth projects and commercial optimization. That is company guidance, not a guarantee of future results.

- Net income: $1.38B
- Adjusted EBITDA: $2.24B
- NGL throughput: +6%
- Permian gas processed: +4%

- [ONEOK Announces Higher Third-Quarter 2026 Earnings and Increases 2026 Financial Guidance](https://www.oneok.com/newsroom/earnings/q3-2026-earnings-summary)

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Written by Stoqly from SEC filings and market data. For information only — not investment advice or a recommendation to buy, sell or hold any security.