SM Energy Company (SM)
NYSE:SM
Want to see SM full AI Analyst Report?
Earnings Data
Report Date
Aug 05, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.96Last Year’s EPS
1.5Same Quarter Last Year
Moderate Buy
Based on 11 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a strongly positive operational and strategic narrative: rapid and above‑plan synergy capture, production beating guidance and an upgraded full‑year production midpoint, meaningful debt reduction and credit upgrades, and multiple basin‑level efficiency gains. Near‑term negatives were limited to one‑time integration cash costs (~$180M), modest adjusted free cash flow in Q1 ($20M) driven by those costs, and GAAP volatility from hedge mark‑to‑market adjustments. Management emphasized capital discipline and returning capital via buybacks as leverage improves. Overall, highlights significantly outweigh the lowlights.Company Guidance
Merger Integration and Synergy Outperformance
Closed the Civitas merger Jan 30 and captured approximately $300 million of merger synergies in ~100 days, raising the year-end synergy target to $375 million (nearly 2x the original target). Management estimates a present value of synergies of ~ $1.8 billion, up from prior $1.0–$1.5 billion.
Production Beat and Upgraded Full‑Year Outlook
Q1 production exceeded guidance at 371,000 BOE/d (oil 190,000 bbl/d). Company raised the full-year production midpoint from 410,000 to 420,000 BOE/d and raised the oil midpoint from 221,000 to 225,000 bbl/d, while maintaining 2026 capital guidance.
Strong Financial Results on Adjusted Basis
Adjusted EBITDAX of $970 million and adjusted net income of $309 million ($1.55 per diluted share). Capital spend was $672 million, below guidance, demonstrating capital efficiency.
Balance Sheet Strengthening and Deleveraging
Reduced absolute debt by approximately $700 million since closing Civitas; South Texas divestiture generated ~ $900 million net proceeds used entirely for debt reduction, moving pro forma leverage into the low‑1x area and positioning for further improvement.
Operational Efficiency Improvements Across Basins
Completion efficiency improved: Permian +4% vs 2025, DJ achieved a ~25% completion efficiency improvement with simul‑frac vs zipper operations, and South Texas +6% vs 2025. Permian drilled longest/fastest Wolfcamp D wells in company history; Uinta cash production margin nearly $40/bbl.
Liquidity and Ratings Validation
Bank group reaffirmed $5 billion borrowing base even after South Texas divestiture and lower commodity assumptions. S&P and Fitch upgraded the company and Moody's assigned a positive outlook, reflecting investment‑grade metrics.
Capital Allocation Framework and Share Repurchase Plans
Management expects accelerating free cash flow in H2 2026 and plans to commence share buybacks in Q2; as leverage declines, the company intends to increase allocation to buybacks sooner than originally planned.
SM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 06, 2026 | $28.55 | $29.10 | +1.93% |
Feb 25, 2026 | $21.86 | $20.95 | -4.17% |
Nov 03, 2025 | $20.49 | $18.98 | -7.37% |
Jun 30, 2025 | $23.84 | $25.12 | +5.39% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does SM Energy Company (SM) report earnings?
SM Energy Company (SM) is schdueled to report earning on Aug 05, 2026, After Close (Confirmed).
What is SM Energy Company (SM) earnings time?
SM Energy Company (SM) earnings time is at Aug 05, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SM EPS forecast?
SM EPS forecast for the fiscal quarter 2026 (Q2) is 1.96.