SemGroup Corporation (NYSE:SEMG) 4Q17 Earnings Miss Estimate

SemGroup Corporation (NYSE:SEMG) reported net income for the fourth quarter of $ 2.62 million or $ 0.03 per share, compared to income $ 12.00 million or $ 0.18 per share for the year-ago quarter.

The Tulsa, Oklahoma based company recorded revenue for fourth quarter rose 51% to $ 606.81 million from $ 402.17 million in the same quarter last year.

Analysts polled by Thomson Reuters expected SEMG to report income of $ 0.09 per share on revenue of $ 569.10 million for the fourth quarter.

SemGroup President and CEO, Carlin Conner, commented: Since last June we have added, on a full-year basis, almost $200 million of high-quality Adjusted EBITDA. In addition, we have raised nearly $800 million in the last few months with announced sales of non-core businesses and a preferred equity transaction, the proceeds of which we plan to use to fully pay the second HFOTCO payment by the end of the first quarter and to fund future growth.

For the twelve months period, SEMG disclosed net income of $ 17.15 million or $ 0.24 per share from the revenue of $ 2.08 billion.

Be the first to comment

Leave a Reply