SM Energy beats 2023 production guidance, lowers capex, net debt $969M, return ~$300M

SM Energy Co

2023-FY EPS reported $6.86 revenue$2,373,886,000

Full-year 2023 production 55.5 MMBoe (152.0 MBoe/d), up 5% YoY, exceeding guidance; Q4 production 14.1 MMBoe at 43% oil.
Estimated 2023 capex $1,070M (incl. accruals), below guided range; Q4 capex $268M, below low end of guidance.
Net debt ~$969M at year-end (long-term debt $1,585M, cash $616M); leverage ratio expected to improve from Q3.
Returned ~$300M to shareholders in 2023 via share repurchases (6.93M shares retired) and dividends; $215M remaining on buyback authorization.
Full financial results and 2024 operating plan to be released on Feb 21 after market close, with Q&A call Feb 22.

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 0.7

SM Energy Co reported preliminary financial results for the full year 2023.

Period: the full year 2023
Result: preliminary results

Exact text from the filing

On February 1, 2024, SM Energy Company (“ Company ”) issued a press release announcing certain estimated 2023 operating and financial results, as well as announcing the Company’s planned schedule for year-end 2023 reporting.

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Source: SEC EDGAR

accession 0000893538-24-000003

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