Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements and, therefore, you should not place undue reliance on any such statements and caution must be exercised in relying on forward-looking statements.
TULSA, Okla., June 11, 2020 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) today announced an underwritten public offering of 26 million shares of its common stock. No assurances can be given that the forward-looking statements contained in this news release will occur as projected and actual results may differ materially from those projected.TULSA, Okla., July 28, 2020 /PRNewswire via COMTEX/ --TULSA, Okla., July 28, 2020 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) today announced second quarter 2020 financial results and updated its 2020 outlook.The natural gas pipelines segment's adjusted EBITDA increased 9% in the second quarter 2020, compared with the same period in 2019, due primarily to higher transportation revenue.Copyright (C) 2020 PR Newswire. "The decrease in second quarter 2020 adjusted EBITDA, compared with the second quarter 2019, primarily reflects:Equity in net earnings from investments So, thanks for all the clarity on the call. I just had one follow-up question on the leverage metrics. ONEOK, Inc. (NYSE: OKE) is a leading midstream service provider in the United States connecting prolific supply basins with key market centers. PR Newswire ONEOK to Participate in J.P. Morgan Energy Virtual Conference No assurances can be given that the forward-looking statements contained in this news release will occur as projected and actual results may differ materially from those projected.These non-GAAP financial measures described above are useful to investors because they, and similar measures, are used by many companies in the industry as a measure of financial performance and are commonly employed by financial analysts and others to evaluate our financial performance and to compare our financial performance with the performance of other companies within our industry.
"These reports are also available from the sources described below. Read the news release announcing the project. Contact ONEOK Shareholder Inquiries: +1-877-208-7318 Royalties Relations: +1-918-588-7463
The call also will be carried live on ONEOK's website.These non-GAAP financial measures described above are useful to investors because they, and similar measures, are used by many companies in the industry as a measure of financial performance and are commonly employed by financial analysts and others to evaluate our financial performance and to compare our financial performance with the performance of other companies within our industry. The company spent $940.5 million on cost of sales and fuel, down 42.1% from the year-ago quarter’s level. Additionally, these calculations may not be comparable with similarly titled measures of other companies. The increase in second quarter 2020 adjusted EBITDA, compared with the second quarter 2019, primarily reflects:The increase in adjusted EBITDA for the six-month 2020 period, compared with the same period last year, primarily reflects:"I am proud of the way our employees continue to operate safely and responsibly and remain focused on providing excellent customer service in a challenging environment," said Terry K. Spencer, ONEOK president and chief executive officer. Results were driven primarily by lower natural gas liquids (NGL) and natural gas volumes due to production curtailments, lower realized commodity prices in the natural gas gathering and processing segment and lower earnings from optimization and marketing in the natural gas liquids segment, compared with the second quarter 2019. Some of the statements contained in this news release … Reconciliations of net income (loss) to adjusted EBITDA, distributable cash flow and coverage ratio are included in the tables.Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks and uncertainties, many of which are beyond our control, and are not guarantees of future results. ONEOK, Inc. (NYSE: OKE) will release second quarter 2020 earnings after the market closes on July 28, 2020.
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