ONEOK Q3 Profit Declines

(RTTNews) - ONEOK, Inc. (OKE) Tuesday reported third-quarter net income attributable to the company of $62.4 million or $0.30 per share, compared to $65.2 million or $0.31 per share in the same period last year.

On average, eleven analysts polled by Thomson Reuters expected the company to earn $0.29 per share for the quarter. Analysts' estimates typically exclude special items.

Looking ahead, ONEOK also updated its 2013 net income guidance range to $245 million to $275 million, compared with the previous guidance range of $235 million to $285 million, reflecting lower than anticipated non-cash charges associated with the accelerated wind down of the energy services segment and lower anticipated earnings in ONEOK Partners' natural gas liquids business due to narrower natural gas liquids or NGL location price differentials.

ONEOK Partners, L.P. (OKS) posted third quarter net income attributable to the company of $216.3 million, or $0.64 per unit, compared to $232.3 million, or $0.78 per unit in the year-ago period.

On average, seventeen analysts polled by Thomson Reuters expected the company to earn $0.64 per share for the quarter. Analysts' estimates typically exclude special items.

The partnership also updated its 2013 net income guidance range to $790 million to $830 million, compared with the previous guidance range of $790 million to $870 million.