Summit Midstream Corporation Reports Q3 2024 Net Loss of $197.5M and Adjusted EBITDA of $45.2M

Summit Midstream Corp

2024-Q3 EPS reported -$10.39 revenue$322,601,000

Q3 2024 net loss of $197.5 million, including $142.6M non-cash income tax expense from C-Corp conversion
Generated adjusted EBITDA of $45.2M, DCF of $22.1M, and FCF of $9.9M
Connected 38 wells, with six active rigs and over 100 DUCs behind systems
Closed C-Corp conversion, refinanced balance sheet, and announced acquisition of Tall Oak Midstream III in Arkoma Basin
Expect Q4 2024 adjusted EBITDA of approximately $45M to $50M

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