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Summit Midstream Corporation (SMC)
:SMC
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Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 08, 2018
|% Change Since: 6.53%
|Next Earnings Date:Aug 02, 2018
Earnings Call Sentiment|Positive
The earnings call presented a largely positive outlook with strong adjusted EBITDA growth, successful strategic transactions, and improvements in key segments. However, challenges such as net loss due to tax expenses and slight volume declines were noted.Company Guidance
During the third quarter of 2024, Summit Midstream Corporation reported $45.2 million in adjusted EBITDA, reflecting a 9% quarter-over-quarter growth. The quarter saw Summit transition from an MLP to a C Corp, enhancing trading liquidity and simplifying its corporate structure. Significant refinancing reduced the overall debt and cost of capital, extending debt maturity to 2029. An acquisition of Tulip Midstream aimed to diversify and scale their portfolio, with expectations of a 3.8x leverage and $250 million of pro forma 2024 adjusted EBITDA post-transaction. Operationally, 38 wells were connected, and the Barnett region exceeded its well-connect guidance with 27 year-to-date. Summit anticipates $45 to $50 million in fourth-quarter adjusted EBITDA, projecting a 5% growth at the midpoint. Capital expenditures for the quarter were $10.9 million, primarily in the Rockies, and the company reported a net debt of approximately $728 million with an available borrowing capacity of $350 million.Strong Adjusted EBITDA Growth
Summit generated $45.2 million in adjusted EBITDA, representing about 9% quarter-over-quarter growth.
Successful Corporate Reorganization
Summit transitioned from an MLP to a C Corp, doubling trading liquidity and reducing the cost of capital.
Acquisition of Tulip Midstream
Summit announced the acquisition of Tulip Midstream, enhancing the balance sheet and diversifying the portfolio with high-growth gas assets.
Rockies Segment Improvement
Adjusted EBITDA in the Rockies segment increased by 9% due to higher product margins and completed maintenance.
Permian Basin Segment Growth
The segment reported adjusted EBITDA of $8.4 million with a 20% increase in volume throughput on the Double E pipeline.
Barnett Segment Volume Increase
Adjusted EBITDA increased by $1.9 million due to a 26% increase in volume throughput driven by new well connections.
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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
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SMC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $36.00 | $35.73 | -0.75% |
| Aug 08, 2024 | $37.00 | $36.42 | -1.57% |
| May 02, 2024 | $28.16 | $34.02 | +20.81% |
| Mar 15, 2024 | $20.35 | $18.45 | -9.34% |
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.
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FAQ
When does Summit Midstream Corporation (SMC) report earnings?
Summit Midstream Corporation (SMC) is schdueled to report earning on Feb 27, 2025, TBA Not Confirmed.
What is Summit Midstream Corporation (SMC) earnings time?
Summit Midstream Corporation (SMC) earnings time is at Feb 27, 2025, TBA Not 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?
Currently, no data Available
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