SM Energy reports Q2 EPS $4.46, adj. EPS $2.19; raises H2 production guidance; redeems $417M 2027 notes

SM Energy Co

Q2 net income $4.46/diluted share; adjusted net income $2.19/diluted share; operating cash flow $1.1B.
Production 440 MBoe/d (230 MBbl/d oil); raised H2 2026 production guidance to 435-440 MBoe/d (238 MBbl/d oil).
Maintained FY2026 capex guidance $2.65-2.85B; reduced recurring G&A guidance by $50M to $230-250M.
Returned $137M to stockholders via $84M share repurchases (2.6M shares) and $0.22/sh dividend.
Closed $950M South Texas asset sale; used proceeds to redeem $819M 2026 notes; subsequent to Q2, announced full redemption of $417M 2027 notes at par using cash on hand.

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