SM Energy Q2 net income $149.9M ($1.25/sh) vs $2.60/sh YoY; acquires 20,000 Midland acres for $90.6M

SM Energy Co

2023-Q2 EPS reported $2.88 revenue$1,124,259,000

Net income $149.9M ($1.25 diluted EPS); adjusted EPS $1.28; Adjusted EBITDAX $390.2M.
Production 14.1 MMBoe (154.4 MBoe/d), 42% oil, exceeding guidance due to strong South Texas well performance.
Returned $86.8M to stockholders via dividends ($0.15/sh) and share repurchases (2.55M shares).
Acquired ~20,000 net acres in Dawson and Martin Counties, TX for $90.6M, adding ~1,250 Boe/d net production (90% oil).
Full-year 2023 production guidance raised to 53.5-55.5 MMBoe; capex reduced to $1,050M (ex-acquisitions).

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SM Energy Co reported second quarter 2023 results: net income $149.9 million, EPS $1.25 per diluted common share. Guidance lowered.

Period: second quarter 2023
Net income: $149.9 million
EPS: $1.25 per diluted common share
Guidance: lowered
Result: reported results

Exact text from the filing

SM ENERGY REPORTS SECOND QUARTER 2023 RESULTS: STRONG OPERATIONAL EXECUTION AND INCREASED RETURN OF CAPITAL; CLOSED TRANSACTIONS ADDING 22,800 NET MIDLAND ACRES DENVER, CO August 2, 2023 - SM Energy Company (the “Company”) (NYSE: SM) today announced operating and financial results for the second quarter 2023 and provided certain full year and third quarter 2023 guidance.

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Source: SEC EDGAR

accession 0000893538-23-000086

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