SemGroup Corporation Reports Consolidated Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Provides Earnings Guidance for the Year 2018
For the nine months, the company reported revenue of $1,891,399,000 as compared to $1,475,111,000 for the same period last year. Operating income was $105,898,000 as compared to $20,813,000 for the same period last year. Loss before income taxes was $10,527,000 as compared to $53,298,000 for the same period last year. Net loss was 27,300,000 as compared to $19,769,000 for the same period last year. Basic and diluted net income per share was $0.03 as compared to loss per share of $0.25 for the same period last year. Net loss attributable to common shareholders was $44,660,000 as compared to $19,769,000 for the same period last year. Basic and diluted net loss per share was $0.57 as compared to $0.29 for the same period last year. EBITDA was $259,045,000 as compared to $107,093,000 for the same period last year. Adjusted EBITDA was $288,832,000 as compared to $216,810,000 for the same period last year.
Based on year-to-date results and expectations for the remainder of 2018, SemGroup is narrowing its Adjusted EBITDA guidance range to between $385 million and $400 million, and increasing its Capex guidance to $360 million to reflect partial spending on the new Pipestone Pipeline project in Canada.