Quarterly / Earnings Reports
SemGroup 'Exceeds Objectives' in Q3; Cites Improved Crude Results
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SemGroupCorporation has reported its financial results for the three months ended September 30, 2013.
SemGroup's adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA) was $52.1 million for the third quarter 2013, compared to $43.6 million for the second quarter 2013 and $32.9 million for the third quarter 2012, an increase of nearly 20% and an increase of 58%, respectively.
Norm Szydlowski, President & CEO, commented: "SemGroup delivered another quarter of solid results, consecutively increasing financial performance and exceeding our objectives for 2013. We have increased our 2013 Adjusted EBITDA guidance, incorporating our strong performance to date and favorable market conditions. We continue to execute on our strategic plans focused on…
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