---
schema_version: "secwatch.filing_event.v1"
accession: "0000893538-25-000137"
form_type: "8-K"
ticker: "SM"
cik: "0000893538"
company_name: "SM Energy Co"
filed_at: "2025-11-03T23:59:59+00:00"
generated_at: "2026-05-17T01:02:00.631801+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# SM Energy Q3 net income $155.1M, production up 26% YoY, adjusted FCF +80% to $234.3M

## Summary
- Net income $155.1M ($1.35 diluted EPS); adjusted net income $153.7M ($1.33 diluted).
- Production 19.7 MMBoe (213.8 MBoe/d), oil up 47% YoY to 113.9 MBbl/d.
- Adjusted free cash flow $234.3M, up 80% YoY; returned $35.1M to stockholders via dividends and buybacks.
- Full-year capex guidance raised to $1.375-$1.395B due to working interest acquisitions; production narrowed to 207-208 MBoe/d.
- Net debt-to-Adjusted EBITDAX reduced to 1.1x; CEO succession to Beth McDonald next quarter.

## SEC filing metadata
- accession: 0000893538-25-000137
- form_type: 8-K
- ticker: SM
- cik: 0000893538
- company_name: SM Energy Co
- filed_at: 2025-11-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/893538/000089353825000137/0000893538-25-000137-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/893538/000089353825000137/sm-20251103.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000893538-25-000137
- JSON: https://secwatch.observer/filing/0000893538-25-000137.json
- Plain text: https://secwatch.observer/filing/0000893538-25-000137.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.