Summit Midstream Q1 2025 net income $4.6M, adjusted EBITDA $57.5M; reiterates FY guidance

Summit Midstream Corp

2025-Q1 EPS reported -$0.16 revenue$132,697,000

Q1 net income $4.6M, adjusted EBITDA $57.5M, DCF $33.5M; results in line with management expectations.
Raised $250M of 8.625% Senior Secured Second Lien Notes due 2029 at issue price 103.375%.
Acquired Moonrise Midstream in DJ Basin on March 10, 2025; connected 41 wells during quarter.
Reiterated FY2025 adjusted EBITDA guidance $245-280M and capex $65-75M.
Reinstated cash dividend on Series A Preferred Stock; common dividend remains suspended.

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