ONEOK, Inc. announced higher fourth quarter and full-year 2024 results on February 24, 2025. For the fourth quarter, net income attributable to ONEOK was $923 million, up from $688 million in Q4 2023, with diluted earnings per common share reaching $1.57 compared to $1.18.
Adjusted EBITDA for the fourth quarter of 2024 increased to $2.174 billion from $1.514 billion in the prior-year quarter. For the full year 2024, net income was $3.112 billion, and adjusted EBITDA was $6.784 billion, significantly higher than $2.659 billion and $5.243 billion in 2023, respectively.
The strong performance in 2024 was primarily driven by contributions from multiple strategic acquisitions, including a full year of earnings from the Refined Products and Crude segment, higher volumes in the Rocky Mountain region, and a gain from the interstate pipeline divestiture. These results underscore the positive impact of ONEOK's expanded asset base and integrated midstream infrastructure.
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