---
schema_version: "secwatch.filing_event.v1"
accession: "0000893538-23-000012"
form_type: "8-K"
ticker: "SM"
cik: "0000893538"
company_name: "SM Energy Co"
filed_at: "2023-02-22T23:59:59+00:00"
generated_at: "2026-06-19T06:03:40.517254+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000893538-23-000012
- form_type: 8-K
- ticker: SM
- cik: 0000893538
- company_name: SM Energy Co
- filed_at: 2023-02-22T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/893538/000089353823000012/0000893538-23-000012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/893538/000089353823000012/sm-20230222.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000893538-23-000012
- JSON: https://secwatch.observer/filing/0000893538-23-000012.json
- Plain text: https://secwatch.observer/filing/0000893538-23-000012.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/893538/000089353823000012/0000893538-23-000012-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.