---
schema_version: "secwatch.filing_event.v1"
accession: "0000893538-23-000033"
form_type: "8-K"
ticker: "SM"
cik: "0000893538"
company_name: "SM Energy Co"
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T10:44:22.559989+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# SM Energy Q1 net income $198.6M, EPS $1.62; production beats guidance by 178K Boe

## Summary
- Net income $198.6M ($1.62 diluted EPS); adjusted net income $1.33 per share; net cash from ops $331.6M.
- Production 13.2 MMBoe (146.4 MBoe/d), 43% oil, ~178,000 Boe above mid-point guidance due to South Texas well outperformance.
- Repurchased 1.4M shares; total return of capital $58.3M in Q1; $133.9M since program inception.
- Capex $307.6M (adjusted for accruals; includes $9.9M leasehold); Net debt-to-Adj. EBITDAX 0.6x; credit facility undrawn.
- Q2 guidance: production 13.3-13.5 MMBoe, capex $295-315M; full-year 2023 guidance unchanged.

## SEC filing metadata
- accession: 0000893538-23-000033
- form_type: 8-K
- ticker: SM
- cik: 0000893538
- company_name: SM Energy Co
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/893538/000089353823000033/0000893538-23-000033-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/893538/000089353823000033/sm-20230427.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000893538-23-000033
- JSON: https://secwatch.observer/filing/0000893538-23-000033.json
- Plain text: https://secwatch.observer/filing/0000893538-23-000033.txt

## Key facts
- Earnings Releases
  SM Energy Co reported first quarter 2023 results: net income $198.6 million, EPS $1.62 per diluted common share.
  - Period: first quarter 2023
  - Net income: $198.6 million
  - EPS: $1.62 per diluted common share
  - Result: reported results
  source text: SM Energy Company (“ Company ”) issued a press release announcing its financial results for the first quarter of 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/893538/000089353823000033/0000893538-23-000033-index.htm
- Earnings Releases
  SM Energy Co updated its certain second quarter 2023 guidance guidance (initiated).
  - Period: certain second quarter 2023 guidance
  - Guidance: initiated
  - Result: guidance update
  source text: provided certain second quarter 2023 guidance
  evidence_url: https://www.sec.gov/Archives/edgar/data/893538/000089353823000033/0000893538-23-000033-index.htm

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