CITGO sees first profit since summer of 2019

摘要

CITGO is not a public company that has to release quarterly results, but executives took the time to provide some color on the first profitable quarter for the company since the summer of 2019. CITGO posted net income of $3 million, EBITDA of $214 million and adjusted EBITDA of $208 million in the second quarter. CITGO President and CEO Carlos Jorda called the return to profitability "particularly satisfying" and mentioned the slow margin recovery that has persisted thanks to lingering effects of the pandemic. The quarter included an interruption in some operations due to the nearly week-long shutdown in April of the Colonial Pipeline.