---
schema_version: "secwatch.filing_event.v1"
accession: "0000893538-24-000003"
form_type: "8-K"
ticker: "SM"
cik: "0000893538"
company_name: "SM Energy Co"
filed_at: "2024-02-01T23:59:59+00:00"
generated_at: "2026-06-06T12:26:46.214871+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000893538-24-000003
- form_type: 8-K
- ticker: SM
- cik: 0000893538
- company_name: SM Energy Co
- filed_at: 2024-02-01T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/893538/000089353824000003/0000893538-24-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/893538/000089353824000003/sm-20240201.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000893538-24-000003
- JSON: https://secwatch.observer/filing/0000893538-24-000003.json
- Plain text: https://secwatch.observer/filing/0000893538-24-000003.txt

## Key facts
- Earnings Releases
  SM Energy Co reported preliminary financial results for the full year 2023.
  - Period: the full year 2023
  - Result: preliminary results
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/893538/000089353824000003/0000893538-24-000003-index.htm

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