secwatch.observer — SEC 8-K summary
======================================

Issuer:     SM Energy Co (SM)
CIK:        0000893538
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0000893538-24-000028
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SM Energy beats Q1 production, raises FY guidance, lowers capex; net income $1.13/share adjusted $1.41
--------------------------------------------------------------------------------

- Q1 net production 145.1 MBoe/d (44% oil) exceeded guidance; net income $131M ($1.13 diluted EPS).
- Full-year production guidance raised 2% to 57-60 MMBoe; capex guidance lowered 2% to $1.14-$1.18B.
- Adjusted EBITDAX $409M (+2% YoY); adjusted free cash flow $67.9M (+35% YoY).
- Returned $53.6M to shareholders (buybacks + $0.18/sh dividend); $182.1M remains on repurchase program.
- Expanded South Texas Austin Chalk acreage by ~8,000 net acres via drill-to-earn; new wells show strong initial rates.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/893538/000089353824000028/0000893538-24-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/893538/000089353824000028/sm-20240502.htm
  HTML page:      https://secwatch.observer/filing/0000893538-24-000028

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer