SemGroup Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018; Affirms Financial Guidance for the Remainder of 2018
May 08, 2018 at 04:21 pm EDT
SemGroup Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported revenue of $661,609,000 compared to $456,100,000 a year ago. Operating income was 34,853,000 compared to $23,389,000 a year ago. Loss before income taxes was $9,952,000 compared to $10,182,000 a year ago. Net loss was $33,035,000 compared to $10,277,000 a year ago. Net loss attributable to common stockholders was $37,867,000 compared to $10,277,000 a year ago. Net loss per basic and diluted share was $0.48 compared to $0.16 a year ago. EBITDA was $83,045,000 compared to $28,284,000 a year ago. Adjusted EBITDA was $93,371,000 compared to $60,667,000 a year ago.
Based on first quarter results and expectations for the remainder of 2018, SemGroup is affirming its initial financial guidance provided earlier in the year 2018.