Lopez Foods wins Quality Award from McDonald's
Oklahoma City-based Lopez Foods recently received the McDonald's Corp. 2013 Quality Award at the McDonald's Supplier Summit in Oak Brook, Ill. Lopez, which supplies McDonald's with beef and pork products, was recognized for its continuous improvement efforts. “We have the privilege to work with many world-class companies that supply McDonald's and are excited that we were selected to receive this award,” Lopez CEO Ed Sanchez said. “It is a reflection of the people that work on our production lines all the way up through our management team.” Lopez has been a supplier to the McDonald's system since 1968 and has operations in Oklahoma City, Ponca City and Caryville, Tenn.
State energy firms rate
high in military service
Oklahoma energy companies on Monday were named among the most military-friendly employers in the country. G.I. Jobs magazine ranked the top 100 companies based on programs and policies such as the strength of company military recruiting efforts, the percentage of new hires with prior military service, retention programs and company policies on National Guard and Reserve Service. Oklahoma City based Devon Energy Corp. ranked No. 36 on the list, followed by fellow Oklahoma City oil and natural gas producer Chesapeake Energy Corp. at No. 61. American Electric Power Co., the parent company of Tulsa-based Public Service Co. of Oklahoma, was ranked No. 78.
Good Shepherd Ministries to be honored
Good Shepherd Ministries of Oklahoma on Thursday will receive the Variety Care Foundation's 2013 Bertha Levy Health Care Advocate award. “Good Shepherd Ministries has helped thousands of Oklahomans access health care that they otherwise could not afford,” said Andrew Rice, executive director of the Variety Care Foundation. “For years, they were known to be one of the only options for charitable dental care in Oklahoma City. The Variety Care Foundation looks to honor organizations and individuals with this award who share our values, and the quality and compassion of Good Shepherd's medical and dental services match our mission as well.”
TULSA — SemGroup Corp. on Monday reported a third-quarter loss of $1.9 million, or 5 cents per share, compared to a loss of $2.77 million, or 7 cents a share in the year-ago quarter. Revenues improved to $358 million, up from $278 million in the third quarter of 2012. The company's adjusted earnings before interest, taxes, depreciation and amortization was $52.1 million, up 58 percent from $32.9 million one year ago. “SemGroup delivered another quarter of solid results, consecutively increasing financial performance and exceeding our objectives for 2013,” SemGroup CEO Norm Szydlowski said. SemGroup management on Monday raised the company's consolidated adjusted EBITDA guidance to between $180 million and $190 million, up from the previous guidance of $165 million to $175 million.
Rose Rock Midstream LP
Rose Rock Midstream LP said Monday that it earned profits of $9.41 million, or 45 cents per common unit, in the third quarter, up from a net income of $6.47 million, or 38 cents a share in the year-ago quarter. Revenues jumped to $166 million, up from $120 million one year ago. The partnership's adjusted earnings before interest, taxes, depreciation and amortization was $15.7 million, up 65 percent from $9.5 million one year ago. “Rose Rock Midstream has performed well this year, and we are on track to meet and exceed our 2013 goals,” CEO Norm Szydlowski said. “We continue to execute on our strategic plans, including the completion of our organic growth projects and growth-oriented acquisitions, which are reflected in our increased guidance.” Rose Rock management raised the partnership's 2013 adjusted EBITDA guidance of $63 million to $66 million, up from previous guidance of $56 million to $60 million.
From Staff Reports