secwatch.observer — SEC 8-K summary
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Issuer:     Summit Midstream Corp (SMC)
CIK:        0002024218
Form:       8-K
Filed at:   2025-11-10T23:59:59+00:00
Accession:  0002024218-25-000068
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SMC Q3 adj. EBITDA $65.5M (+7.2% QoQ); FY2025 guidance near low end of $245M-$280M
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2024218/000202421825000068/0002024218-25-000068-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2024218/000202421825000068/smc-20251110.htm
  HTML page:      https://secwatch.observer/filing/0002024218-25-000068

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer