SM Energy Reports 2022 Net Income of $1.11B, Proved Reserves Up 9% to 537 MMBoe

SM Energy Co

2022-FY EPS reported $8.96 revenue$3,358,647,000

Full-year 2022 net income was $1.11 billion ($8.96/diluted share), adjusted net income $7.29/share.
Proved reserves at year-end 2022 totaled 537 MMBoe, a 9% increase from 2021, replacing 205% of production.
Generated $848.7 million adjusted free cash flow in 2022, more than double 2021; net debt-to-EBITDAX ratio 0.59x.
Repurchased 1,365,255 shares and initiated $0.15 quarterly dividend; 2023 plan includes $0.60 annual dividend and up to $500M buybacks.
2023 production guidance flat to low single-digit growth at 52.5-54.5 MMBoe; capital budget ~$1.1B.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SM Energy Co reported the fourth quarter and full year 2022 results: net income Net income for the full year 2022 and fourth quarter 2022 was $1.11 billion and $258.5 million, or $8.96 and $2.09 per d.

Period: the fourth quarter and full year 2022
Net income: Net income for the full year 2022 and fourth quarter 2022 was $1.11 billion and $258.5 million, or $8.96 and $2.09 per d
Result: reported results

Exact text from the filing

SM ENERGY REPORTS 2022 RESULTS AND 2023 OPERATING PLAN DENVER, CO February 22, 2023 - SM Energy Company (the "Company") (NYSE: SM) today announced certain fourth quarter and full year 2022 operating and financial results, year-end 2022 estimated proved reserves and its 2023 operating plan. Highlights include: • Substantial growth in profitability . Net income for the full year 2022 and fourth quarter 2022 was $1.11 billion and $258.5 million, or $8.96 and $2.09 per diluted common share, respectively.

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Source: SEC EDGAR

accession 0000893538-23-000012

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