ONEOK, Inc. announced higher first quarter 2025 results on April 29, 2025, reporting adjusted EBITDA of $1.775 billion, an increase from $1.441 billion in the first quarter of 2024. Net income attributable to ONEOK was $636 million, compared to $639 million in the prior-year quarter, with diluted EPS at $1.04 versus $1.09.
The company affirmed its full-year 2025 financial guidance, signaling confidence in its operational trajectory. Performance during the quarter was primarily driven by a full quarter of adjusted EBITDA contributions from the recently acquired EnLink and Medallion assets, alongside higher natural gas liquids and natural gas processing volumes in the Rocky Mountain region.
These positive results were partially offset by increased operating costs related to the growth of ONEOK's operations and the absence of earnings from assets divested in 2024. ONEOK expects continued execution on acquisition-related synergies and the completion of organic growth projects to support further growth throughout 2025.
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