By Elias Schisgall

Oneok lifted its full-year outlook, citing more favorable market conditions, after posting a rise in profit and revenue during the first quarter.

The natural-gas transmission company on Tuesday recorded a profit of $774 million, or $1.23 a share, compared with $636 million, or $1.04 a share, a year earlier.

Revenue rose to $8.45 billion from $6.91 billion a year prior.

Analysts polled by FactSet were expecting a profit of $1.30 a share on revenue of $8.23 billion.

Oneok boosted its outlook for the full year, citing strong business segment performance as well as "a more constructive market environment beginning late in the first quarter."

The company now expects earnings in a range with a midpoint of $5.53, on a total profit between $3.21 billion and $3.79 billion.

The company had previously forecast full-year earnings between $5.04 and $5.87 a share in an outlook issued prior to the start of the war in Iran. That outlook was based on an average West Texas Intermediate crude oil price between $55 and $60 per barrel this year, the company said.

Oil prices have risen dramatically since the beginning of the war. West Texas Intermediate futures were trading at $99.60 a barrel on Tuesday.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

April 28, 2026 16:58 ET (20:58 GMT)

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