Summit Midstream Q4 net loss $24.8M, adj EBITDA $46.2M, guides FY2025 $245-280M, closes Moonrise acquisition

Summit Midstream Corp

Q4 2024 net loss $24.8M; adjusted EBITDA $46.2M; distributable cash flow $22.1M; free cash flow $6.6M.
Reduced total leverage to 3.9x at year-end 2024; reinstated cash dividend on Series A preferred starting March 15.
Closed bolt-on acquisition of Moonrise Midstream in DJ Basin on March 10, 2025 (value- and credit-accretive).
FY2025 guidance: adjusted EBITDA $245M-$280M; total capex $65M-$75M; expects >$100M levered free cash flow.
Connected 156 wells in 2024; 125-185 wells expected in 2025; over 100 DUCs behind systems.

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