secwatch.observer — SEC 8-K summary
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Issuer:     SM Energy Co (SM)
CIK:        0000893538
Form:       8-K
Filed at:   2026-05-06T23:59:59+00:00
Accession:  0000893538-26-000059
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SM Energy Q1 2026: net loss $1.68/sh, raises full-year production guidance, ups synergy target to $375M
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- Q1 net loss of $1.68/diluted share (non-cash derivative loss); adjusted EPS $1.55.
- Average net daily production 371.2 MBoe/d (190.3 MBbl/d oil), above mid-point guidance.
- Full-year 2026 production guidance raised to 410-430 MBoe/d (222-228 MBbl/d oil); capex plan unchanged at $2.65-2.85B.
- Closed $950M South Texas divestiture on Apr 30; net ~$900M used to redeem $819M of 2026 Senior Notes.
- Increased annual fixed dividend 10% to $0.88/sh; targeting 20% of post-dividend FCF for buybacks.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/893538/000089353826000059/0000893538-26-000059-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/893538/000089353826000059/sm-20260506.htm
  HTML page:      https://secwatch.observer/filing/0000893538-26-000059

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