secwatch.observer — SEC 8-K summary
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Issuer:     SM Energy Co (SM)
CIK:        0000893538
Form:       8-K
Filed at:   2024-08-07T23:59:59+00:00
Accession:  0000893538-24-000103
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SM Energy beats Q2 estimates with $1.82 EPS; announces $2.1B Uinta Basin acquisition and increased return of capital
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- Q2 net income $210.3M ($1.82 diluted EPS); adjusted EPS $1.85; production 158.5 MBoe/d (46% oil).
- Acquired additional Uinta Basin assets for ~$70M (80% interest); combined with XCL acquisition total $2.1B, adding 63,300 net acres, 465 locations.
- Board approved 11% dividend increase to $0.20/share starting Q4 2024; share repurchase program reloaded to $500M through 2027.
- Issued $1.5B in senior notes (6.75% 2029, 7.00% 2032) to fund acquisitions and redeem 2025 notes.
- Full-year production guidance unchanged at 57-60 MMBoe; oil percentage raised to 45%; capex unchanged.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/893538/000089353824000103/0000893538-24-000103-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/893538/000089353824000103/sm-20240807.htm
  HTML page:      https://secwatch.observer/filing/0000893538-24-000103

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