SemGroup Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018; Affirms Financial Guidance for the Remainder of 2018
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.