Oneok: Lower profits
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Oneok profit dips in second quarter
Oneok's second-quarter profit dipped 0.4% as higher volumes in its 48%-owned Oneok Partners unit almost compensated for lower commodity prices.
For the latest quarter, Oneok reported a profit of $41.7 million, or 39 cents a share, down from $41.9 million, or 39 cents a share, a year earlier.
Revenue dropped 47% to $2.23 billion, a Dow Jones report said.
Analysts' estimates were for per-share earnings of 28 cents on revenue of $3.8 billion, according to a poll by Thomson Reuters.
Gross margin rose to 19.4% from 10.1%.
Oneok has been hurt by weak demand and falling natural gas prices.