SM Energy reports Q1 adjusted EPS $1.55, consensus $1.13

Reports Q1 revenue $1.48B, consensus $1.42B. Average Q1 net daily production totaled 371.2 MBoe/d, including 190.3 MBbl/d of oil. “SM is off to an outstanding start in 2026,” stated CEO Beth McDonald. “In the first quarter, our team delivered production above the top end of our guidance and accelerated merger synergy capture – demonstrating the capability of our combined organization. We also moved decisively to strengthen our balance sheet, refinancing high-coupon assumed debt and closing a significant divestiture at an accretive valuation. That operational momentum gives us the confidence to raise our synergy target, increase our production guidance, and reaffirm our capital plan. We are building a business with the scale, asset quality, and operational discipline to generate growing returns for stockholders.”