TULSA, Okla. (AP) — SemGroup Corp. (SEMG) on Thursday reported a loss of $25.6 million in its second quarter.
On a per-share basis, the Tulsa, Oklahoma-based company said it had a loss of 45 cents. Losses, adjusted for non-recurring costs, were 18 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 20 cents per share.
The petroleum pipeline and storage company posted revenue of $674.9 million in the period.
SemGroup shares have declined 21% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $10.85, a fall of 58% in the last 12 months.