SM Energy Q3 net income $222.3M, raises dividend 20% to $0.18/quarter

SM Energy Co

2023-Q3 EPS reported $4.75 revenue$1,765,160,000

Q3 net income $222.3M ($1.88 diluted EPS); adjusted EPS $1.73; Adjusted EBITDAX $475.6M.
Board approves 20% dividend increase to $0.18/quarter ($0.72 annual), starting Q1 2024.
Returned $114.1M to shareholders in Q3 via dividends and repurchases of 2.35M shares.
Full-year production guidance narrowed to 55.1-55.4 MMBoe; capex ~$1.1B.
Completed asset exchange in Sweetie Peck for ~100% WI in nine DUC wells, boosting early 2024 output.

item 2.02 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SM Energy Co updated its full year and fourth quarter 2023 guidance (initiated).

Period: full year and fourth quarter 2023
Guidance: initiated
Result: guidance update

Exact text from the filing

provided certain full year and fourth quarter 2023 guidance

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SM Energy Co reported the third quarter of 2023 results: revenue $383.0 million, net income $222.3 million, EPS $1.88 per diluted common share. Guidance reaffirmed.

Period: the third quarter of 2023
Revenue: $383.0 million
Net income: $222.3 million
EPS: $1.88 per diluted common share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

2023, net income was $222.3 million, or $1.88 per diluted common share, adjusted net income (1) was $1.73 per diluted common share, net cash provided by operating activities was $383.0 million and Adjusted EBITDAX (1) was $475.6 million, all of which exceeded expectations, benefiting from strong oil production, sequentially increased commodity prices and lower

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Source: SEC EDGAR

accession 0000893538-23-000107

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