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Summit Midstream (SMC)
NYSE:SMC
Earnings Data
Report Date
May 02, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
―Last Year’s EPS
-2.12Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 10, 2025
|% Change Since: -3.28%
|Next Earnings Date:May 02, 2025
Earnings Call Sentiment|Positive
The call highlighted significant strategic achievements, including successful divestitures and acquisitions, strong financial performance, and a positive outlook for 2025. However, there were notable challenges, such as a net loss in the fourth quarter and volume declines in several segments. Despite these challenges, the strategic wins and positive guidance support a generally optimistic view.Company Guidance
During the fourth quarter 2024 earnings call, Summit Midstream Corp. provided guidance for 2025, anticipating adjusted EBITDA to range from $245 to $280 million, inclusive of the recent Moonrise acquisition. The company expects to connect 125 to 185 wells in 2025, with a capital expenditure budget set between $65 million and $75 million, including $15 million to $20 million for maintenance. The guidance reflects a potential 30% reduction in planned well connections due to timing risks, primarily affecting the third and fourth quarters. Summit Midstream aims to generate over $100 million in free cash flow, targeting a reduction in leverage to 3.5 times, and plans to use this cash flow for debt repayment. The company highlighted significant operational achievements in 2024, including doubling its share price and executing strategic acquisitions, which have bolstered its position in high-growth natural gas-oriented basins.Successful Strategic Transactions
Summit Midstream Corp. divested the Northeast segment for $700 million, reducing leverage from 5.4 times to 3.9 times and increasing the unit price from $17 to nearly $30. The company also refinanced the balance sheet, increasing financial flexibility and reducing interest expenses.
Record Share Price Growth
The execution of strategic plans resulted in more than doubling the share price by the end of 2024.
Strong Financial Performance
Full year 2024 adjusted EBITDA was $204.6 million, generating more than $85 million of distributable cash flow.
Acquisition and Expansion
Acquired Tallahok Midstream and Moonrise Midstream, expanding exposure to natural gas-oriented basins and increasing processing capacity in the DJ Basin.
Positive Outlook for 2025
Full year 2025 adjusted EBITDA guidance of $245 to $280 million, and expected significant free cash flow generation with over $100 million available for debt paydown.
Reinstatement of Preferred Dividend
Plans to reinstate the cash dividend on the corporate series A preferred beginning March 15, 2025.
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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 |
|---|---|---|---|
| Mar 10, 2025 | $38.71 | $37.68 | -2.66% |
| 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% |
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 (SMC) report earnings?
Summit Midstream (SMC) is schdueled to report earning on May 02, 2025, TBA Not Confirmed.
What is Summit Midstream (SMC) earnings time?
Summit Midstream (SMC) earnings time is at May 02, 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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