ONEOK, Inc. (NYSE:OKE) Q1 2024 Earnings Conference Call May 1, 2024 11:00 AM ET

Company Participants

Andrew Ziola - Vice President, Investor Relations
Pierce Norton - President and Chief Executive Officer
Walt Hulse - Chief Financial Officer
Sheridan Swords - Executive Vice President, Commercial Liquids and Natural Gas Gathering and Processing
Chuck Kelley - Senior Vice President, Natural Gas Pipelines
Kevin Burdick - Executive Vice President and Chief Enterprise Services Officer

Conference Call Participants

Jeremy Tonet - JPMorgan
Spiro Dounis - Citi
Tristan Richardson - Scotiabank
Michael Blum - Wells Fargo
Theresa Chen - Barclays
Sunil Sibal - Seaport Global Securities
Neel Mitra - Bank of America
Keith Stanley - Wolfe Research
Neal Dingmann - Truist Securities
Craig Shere - Tuohy Brothers

Operator

Good day and welcome to the ONEOK First Quarter 2024 Earnings Conference Call and Webcast. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Andrew Ziola, Vice President of Investor Relations. Please go ahead.

Andrew Ziola

Thank you, Megan and welcome to ONEOK’s first quarter 2024 earnings call. We issued our earnings release and presentation after the markets closed yesterday and those materials are on our website. After our prepared remarks, management will be available to take your questions.

Statements made during this call that might include ONEOK’s expectations or predictions should be considered forward-looking statements and are covered by the safe harbor provision of the Securities Acts of 1933 and 1934. Actual results could differ materially from those projected in forward-looking statements. For a discussion of factors that could cause actual results to differ, please refer to our SEC filings. [Operator Instructions]

With that, I’ll turn the call over to Pierce Norton, President and Chief Executive Officer. Pierce?

Pierce Norton

Thanks, Andrew. Good morning, everyone, and thank you for joining us. On today’s call, is Walt Hulse, the Chief Financial Officer, Treasurer and Executive Vice President, Investor Relations and Corporate Development; and Sheridan Swords, Executive Vice President, Commercial Liquids and Natural Gas Gathering and Processing. Also available to answer your questions are Chuck Kelley, Senior Vice President of Natural Gas Pipelines; and Kevin Burdick, our Executive Vice President and Chief Enterprise Services Officer.

Yesterday, we announced first quarter 2024 earnings and increased our full year 2024 financial guidance. Solid results during the first quarter were supported by higher year-over-year volumes in the Rocky Mountain region and contributions from the Refined Products and Crude segment. The efforts of our employees were highlighted once again as we were able to effectively manage through the winter weather during the quarter. Heating degree days were actually higher than normal in January, but it was the temporary acute cold and excessive wind that caused a deviation from normal operations. Volumes have rebounded across our systems, and we are continuing to see volume trends higher, providing additional confidence in our expectations for the remainder of the year.