SemGroup: 2Q Earnings Snapshot
TULSA, Okla. (AP) _ SemGroup Corp. (SEMG) on Wednesday reported a second-quarter loss of $2.7 million, after reporting a profit in the same period a year earlier.
The Tulsa, Oklahoma-based company said it had a loss of 11 cents per share. Earnings, adjusted for non-recurring costs, came to 12 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The petroleum pipeline and storage company posted revenue of $595.8 million in the period.
SemGroup shares have fallen 15 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $25.70, a rise of 4 percent in the last 12 months.