Summit Midstream (SMC)
NYSE:SMC
Want to see SMC full AI Analyst Report?
Earnings Data
Report Date
Aug 06, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.37Last Year’s EPS
-0.66Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a generally constructive tone: management reported Q1 adjusted EBITDA in line with expectations, highlighted contract wins (Double E), strong operational momentum in the Rockies and Arkoma dry-gas outperformance, and completed key balance sheet actions (preferred dividend payment, $42M equity placement, refinancing). Headwinds include localized underperformance in Arkoma, Piceance shut-ins (~20 MMcf/d), modest free cash flow relative to growth ambitions, and remaining execution risk for the Double E expansion. On balance the positives—contracting momentum, macro tailwinds, balance-sheet progress, and a clear path to midpoint guidance—outweigh the operational and market-specific challenges discussed.Company Guidance
Quarterly Adjusted EBITDA In Line with Expectations
Reported Q1 2026 adjusted EBITDA of $54.2 million, generally in line with company expectations and supporting the view that results should trend toward the midpoint of 2026 guidance ($225M-$265M, midpoint $245M).
Positive Cash Generation and Capital Metrics
Distributable cash flow of $26.9 million and free cash flow of $11.4 million; total capex $19.3 million (including $3.7 million maintenance), demonstrating positive free cash generation while funding growth projects.
Balance Sheet Simplification and Liquidity Actions
Paid $45 million of accrued Series A preferred dividends (clearing a milestone toward reinstating a common dividend), completed a $42 million private placement of common stock to an affiliate of Tailwater Capital, closed a Summit Permian Transmission term loan refinancing; ended quarter with $43.4 million unrestricted cash, $116 million drawn on revolver and ~ $381 million available borrowing capacity.
Double E Pipeline Contracting and Expansion Momentum
Executed a subsequent 10-year take-or-pay agreement for 100 MMcf/d firm capacity starting in 2027, bringing Double E contracted volumes to just over 1.7 Bcf/d; open season progressing to support a previously announced ~800 MMcf/d midpoint compressor expansion and management expects to be in position to pursue FID this summer.
Encouraging Operational Results and Well Connections
Notable well activity: Rockies connected 18 DJ Basin wells and 13 Williston wells (including first 4 three-mile laterals under new 10-year crude gathering agreement); Mid-Con connected 6 Arkoma wells during the quarter and 3 more subsequent to quarter-end; multiple rigs active and sizable DUC inventories (Rockies ~60 DUCs; Arkoma ~80 DUCs) supporting near-term volume growth.
Arkoma Dry-Gas Pad Outperformance
New 3-well pad in the dry gas area of Arkoma has materially outperformed internal expectations, averaging approximately 50 million (units per day) combined in early flowback, signaling upside to Mid-Con volumes as more wells ramp.
Constructive Macro Backdrop and Long-Term Growth Outlook
Management emphasized stronger crude oil pricing, supportive natural gas fundamentals (Henry Hub, LNG demand, power/data center demand) and reiterated belief in >$100 million of incremental organic EBITDA from the existing portfolio by 2030, plus active M&A pipeline (particularly in the Rockies).
SMC 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
SMC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 11, 2026 | $29.82 | $29.65 | -0.57% |
Mar 16, 2026 | $30.09 | $30.73 | +2.13% |
Nov 10, 2025 | $23.39 | $23.37 | -0.09% |
Aug 12, 2025 | $24.30 | $20.26 | -16.63% |
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 Summit Midstream (SMC) report earnings?
Summit Midstream (SMC) is schdueled to report earning on Aug 06, 2026, After Close (Confirmed).
What is Summit Midstream (SMC) earnings time?
Summit Midstream (SMC) earnings time is at Aug 06, 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 SMC EPS forecast?
SMC EPS forecast for the fiscal quarter 2026 (Q2) is -0.37.