SemGroup Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported revenues of $595,794,000 compared to $473,089,000 a year ago. Operating income was $31,346,000 compared to $25,202,000 a year ago. Loss before income taxes was $6,339,000 compared to income of $13,236,000 a year ago. Net loss was $2,726,000 or $0.11 per basic and diluted shares compared to income of $9,611,000 or $0.15 per basic and diluted shares a year ago. The improvement in quarter over quarter earnings is primarily due to lower income tax and interest expense pertaining to non-recurring items recognized during the first quarter. Net loss attributable to common shareholders was $8,937,000 compared to income of $9,611,000 a year ago. EBITDA was $81,320,000 compared to $52,315,000 a year ago. Adjusted EBITDA was $99,010,000 compared to $65,410,000 a year ago.

For the six months, the company reported revenues of $1,257,403,000 compared to $929,189,000 a year ago. Operating income was $66,199,000 compared to $48,591,000 a year ago. Loss before income taxes was $16,291,000 compared to income of $3,054,000 a year ago. Net loss was $35,761,000 or $0.60 per basic and diluted shares compared to $666,000 or $0.01 per basic and diluted shares a year ago. Net loss attributable to common shareholders was $46,804,000 compared to $666,000 a year ago. EBITDA was $164,365,000 compared to $80,599,000 a year ago. Adjusted EBITDA was $192,381,000 compared to $126,077,000 a year ago.

Based on the company's year-to-date results and expectations for the remainder of 2018, SemGroup is affirming its financial guidance provided earlier this year.