Summit Midstream Q1 net income $132.9M; net leverage reduced to 3.9x

Summit Midstream Partners, LP

Net income $132.9M, adjusted EBITDA $70.1M; DCF $32.5M, FCF $17.2M.
Sold Northeast assets: Utica to MPLX for $625M and Mountaineer to Antero Midstream for $70M.
Net leverage ratio improved to ~3.9x from 5.4x in Q4 2023; target 3.5x.
Revised 2024 pro forma adjusted EBITDA guidance to $170M–$200M.
Double E open season secured 75 MMcf/d 10-year commitment; 150 MMcf/d non-binding bids.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Summit Midstream Partners, LP reported the three months ended March 31, 2024 results: net income net income of $132.9 million. Guidance reaffirmed.

Period: the three months ended March 31, 2024
Net income: net income of $132.9 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Summit Midstream Partners, LP Reports First Quarter 2024 Financial and Operating Results

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Source: SEC EDGAR

accession 0001549922-24-000045

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