earnings
confidence high
sentiment neutral
materiality 0.75
SMC Q3 adj. EBITDA $65.5M (+7.2% QoQ); FY2025 guidance near low end of $245M-$280M
Summit Midstream Corp
2025-Q3 EPS reported
-$0.95
revenue$419,797,000
- Net income $5.0M; DCF $36.7M; FCF $16.7M for Q3 2025.
- Adj. EBITDA up 7.2% from Q2; natgas throughput 925 MMcf/d (+1.4% QoQ).
- FY2025 adj. EBITDA expected near low end of $245M-$280M guidance due to customer timing.
- 109 wells connected YTD, ~50 expected in Q4; over 120 new well connects expected H1 2026.
- ABL revolver $150M drawn, $349M available; interest coverage 2.7x, leverage in compliance.