August 5, 2010 / 10:28 PM / 7 years ago

UPDATE 1-Superior Plus posts Q2 loss on warmer weather

* Q2 loss C$0.18/shr vs EPS C$0.26 year-ago

* Q2 rev up 74 pct

Aug 5 (Reuters) - Superior Plus Corp SPB.TO reported a second-quarter loss, partly hurt by seasonal losses at its energy services segment, and cut its full-year 2010 adjusted cash flow from operations view.

Superior, whose services span from energy to specialty chemicals, now expects 2010 adjusted cash flow from operations at C$1.50 a share to C$1.65 a share, from its prior view of C$1.75 to C$1.95 per share.

For the second quarter, the company posted a net loss of C$18.6 million, or 18 Canadian cents a share, compared with a net income of C$23.4 million, or 26 Canadian cents a share, a year ago.

Revenue rose 74 percent to C$788.4 million.

Analysts on average were expecting a loss of 1 Canadian cent a share, on revenue of C$723.7 million, according to Thomson Reuters I/B/E/S.

The Energy Services business was negatively impacted by reduced heating volumes and sales margins due principally to the impact of weather and ongoing competitive pressures, the company said in a statement. Average sales margins were impacted by warmer-than-normal weather in both Canada and the northeastern United States.

Adjusted operating cash flow fell 76 percent to 5 Canadian cents per share.

Shares of the Calgary, Alberta-based company closed at C$13.49 Thursday on the Toronto Stock Exchange. (Reporting by NR Sethuraman in Bangalore; Editing by Unnikrishnan Nair)

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