{"schema_version":"secwatch.filing_event.v1","accession":"0000893538-25-000111","form_type":"8-K","ticker":"SM","cik":"0000893538","company_name":"SM Energy Co","filed_at":"2025-07-31T23:59:59+00:00","discovered_at":"2026-05-14T18:02:46.619370+00:00","generated_at":"2026-05-17T22:38:25.311057+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"SM Energy Q2 record production 209.1 MBoe/d beats guidance; net income $201.7M; debt paid to zero","bullets":["Record quarterly net production of 19.0 MMBoe (209.1 MBoe/d), 5% above guidance mid-point, oil 55% (115.7 Mbbl/d).","Net income $201.7M ($1.76 diluted EPS); adjusted net income $171.9M ($1.50 diluted EPS); Adjusted EBITDAX $569.6M.","Paid down revolver to zero, ending cash $101.9M; net debt-to-EBITDAX 1.2x; targeting 1.0x by year-end.","Full-year capex guidance raised to ~$1.375B from ~$1.3B for non-operated projects; oil mix guidance increased to 53-54%.","Cash tax estimate reduced to ~$10M from $75-95M due to OBBBA tax law benefiting from 100% bonus depreciation."],"urls":{"canonical":"https://secwatch.observer/filing/0000893538-25-000111","json":"https://secwatch.observer/filing/0000893538-25-000111.json","markdown":"https://secwatch.observer/filing/0000893538-25-000111.md","text":"https://secwatch.observer/filing/0000893538-25-000111.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/893538/000089353825000111/0000893538-25-000111-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/893538/000089353825000111/sm-20250731.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T22:38:25.311057+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}