Summit Midstream Partners ( (SMC) ) has released its Q4 earnings. Here is a breakdown of the information Summit Midstream Partners presented to its investors.
Summit Midstream Corporation is a Houston-based company specializing in developing, owning, and operating midstream energy infrastructure assets across key unconventional resource basins in the United States, providing services such as natural gas, crude oil, and produced water gathering, processing, and transportation.
In its latest earnings report, Summit Midstream Corporation announced a net loss of $24.8 million for the fourth quarter of 2024, alongside an adjusted EBITDA of $46.2 million. The company also highlighted strategic acquisitions and provided financial guidance for 2025, indicating a focus on growth and financial stability.
Key financial metrics for the fourth quarter included a distributable cash flow of $22.1 million and free cash flow of $6.6 million. Summit successfully reduced its leverage to 3.9x and completed acquisitions of Tall Oak Midstream III and Moonrise Midstream, enhancing its operational capacity. The company connected 23 wells in the fourth quarter, totaling 156 for the year, and anticipates connecting 125 to 185 wells in 2025.
Looking ahead, Summit Midstream projects an adjusted EBITDA range of $245 million to $280 million for 2025, with capital expenditures expected between $65 million and $75 million. The company aims to continue deleveraging its balance sheet and has reinstated cash dividends on its Series A Preferred Stock.
Summit Midstream’s management remains optimistic about 2025, focusing on executing its corporate strategy with a strong balance sheet and ample liquidity. The company plans to leverage its recent acquisitions to meet expected volumetric growth and maximize shareholder value.
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