SM Energy and Summit Midstream report Q2 2026 financial results

SM Energy and Summit Midstream Corporation have released their second-quarter 2026 financial results, highlighting growth and operational shifts in the energy sector.

SM Energy reported adjusted net income of $526 million, or $2.19 per diluted share, with adjusted EBITDAX totaling $1.4 billion. The company generated $467 million in adjusted free cash flow and returned $137 million to stockholders through dividends and share repurchases. Following a merger, the company has achieved approximately 95% of its $375 million merger synergy target and reduced net debt by roughly $1.1 billion. SM Energy also reaffirmed its full-year 2026 capital spending guidance of $2.65 billion to $2.85 billion.

Summit Midstream reported second-quarter net income of $4.6 million and adjusted EBITDA of $60.7 million, representing a 12% increase over the first quarter of 2026. The company established a $35 million stock repurchase program and increased its 2026 capital expenditure guidance to between $100 million and $120 million to support growth projects in the Rockies and Permian segments. Additionally, Summit Midstream announced plans to add approximately 30 Williston Basin wells to its 2026 operational plan.