Semgroup Q2 Results Beat Analyst Estimates

Semgroup reported early Monday Q2 earnings of $0.15 per diluted share compared with income of $0.19 per share a year ago, beating the $0.12 average EPS estimate from analysts polled by Capital IQ. Total revenue surged to $473.1 million from $287.4 million a year ago, coming in above the $387.5-million consensus.

SemGroup said in a statement it is updating its 2017 capital expenditure guidance to $575 million, which now includes about $75 million in growth projects at HFOTCO and roughly $60 million related to maintenance projects. Separately, the board set out a sequentially unchanged quarterly cash dividend of $0.45 per share, resulting in an annualized payout of $1.80 per share. The dividend will be paid Aug. 28 to all common shareholders of record as at Aug 18.

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