North America's largest energy infrastructure company Kinder Morgan posted a net loss in the second quarter of the year, the company announced Wednesday.
The company reported a net loss of $180 million for April-June period of this year, according to its financial statement.
But it had a net income of $337 million during the same period a year ago.
On the other hand, in the second quarter of 2018 revenue increased by 1.8 percent to $3.43 billion while Kinder Morgan's revenue in April-June period of 2017 was $3.37 billion.
“Overall, we had very good commercial and operating performance, though due to non-cash impairments taken during the quarter we are showing a second quarter loss per common share of $0.08,' Chief Executive Officer Steve Kean said in the statement.
The company had a $0.15 earning per common share in April-June period of last year.
With this net loss in the second quarter, the company's stock price on Wall Street showed losses after the market closed.
The stock price fell to as low as $17.45 per share during after-hours trading, and prices closed at $17.78 a share.
By Ovunc Kutlu in New York
Anadolu Agency
energy@aa.com.tr