SM Energy Q3 EPS $2.09, adjusted $1.62; closes $2.1B Uinta acquisition; raises dividend

SM Energy Co

2024-Q3 EPS reported $5.03 revenue$1,838,038,000

Net income $240.5M ($2.09 diluted EPS); adjusted EPS $1.62; production 15.6 MMBoe (170.0 MBoe/d) above guidance.
Closed $2.1B acquisition of 80% interest in Uinta Basin; adds ~63,300 net acres and high oil content production.
Adjusted free cash flow $129.8M, up 32% from Q2; quarterly dividend increased to $0.20/share from $0.18.
Q4 2024 guidance: production 205-220 MBoe/d (51% oil); capex $320-$340M; full-year capex $1.24-$1.26B.
Borrowing base raised to $3.0B; $500M share repurchase authorization through 2027; net debt-to-EBITDAX 0.5x.

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