SemGroup (SEMG) Misses Q3 EPS by 11c, Revenues Miss

SemGroup (NYSE: SEMG) reported Q3 EPS of ($0.28), $0.11 worse than the analyst estimate of ($0.17). Revenue for the quarter came in at $562.41 million versus the consensus estimate of $651.82 million.

"Our Canadian and U.S. Gas businesses delivered improved quarter over quarter segment profit, offsetting the lower results in our U.S. Liquids segment, which was primarily impacted by lower crude marketing margins," said SemGroup President and Chief Executive Officer Carlin Conner. "We have been actively executing on key projects and have recently completed construction of the White Cliffs NGL line conversion and the Patterson Creek expansion. The Moore Road pipeline in Houston and Smoke Lake Plant in Canada are on track to come online at the end of this year."

"In addition, SemGroup's proposed merger with Energy Transfer is progressing swiftly and a shareholder vote is set for December 4th," said Conner. "We look forward to executing this transaction, which we expect to close shortly after the shareholder vote in early December."

For earnings history and earnings-related data on SemGroup (SEMG) click here.

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