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SemGroup: 1Q Earnings Snapshot

SemGroup: 1Q Earnings Snapshot

Associated Press

TULSA, Okla. (AP) _ SemGroup Corp. (SEMG) on Tuesday reported a loss of $6.8 million in its first quarter.

The Tulsa, Oklahoma-based company said it had a loss of 37 cents per share. Losses, adjusted for non-recurring costs, were 18 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.

The petroleum pipeline and storage company posted revenue of $567.2 million in the period.

SemGroup shares have declined nearly 9% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $12.60, a fall of 48% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SEMG at https://www.zacks.com/ap/SEMG