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

Issuer:     SM Energy Co (SM)
CIK:        0000893538
Form:       8-K
Filed at:   2024-10-31T23:59:59+00:00
Accession:  0000893538-24-000134
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/893538/000089353824000134/0000893538-24-000134-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/893538/000089353824000134/sm-20241031.htm
  HTML page:      https://secwatch.observer/filing/0000893538-24-000134

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