Summit Midstream Corporation

NYSE:SMC Stock Report

Market Cap: US$411.5m

Summit Midstream Past Earnings Performance

Past criteria checks 0/6

Summit Midstream's earnings have been declining at an average annual rate of -47.1%, while the Oil and Gas industry saw earnings growing at 10% annually. Revenues have been growing at an average rate of 6.2% per year.

Key information

-47.06%

Earnings growth rate

-60.18%

EPS growth rate

Oil and Gas Industry Growth33.67%
Revenue growth rate6.24%
Return on equity-2.79%
Net Margin-3.48%
Next Earnings Update12 May 2026

Recent past performance updates

Recent updates

Seeking Alpha • Mar 26

Summit Midstream: One More Year Of Transition

Summary Summit Midstream Corp remains a strong buy, driven by undervalued natural gas assets and robust long-term demand fundamentals. SMC posted $60 million in Q4'25 adjusted EBITDA, $17 million FCF, and maintains a manageable 3.9x leverage ratio. The Double E pipeline, with new take-or-pay contracts and potential expansion, is poised to drive significant EBITDA growth. Balance sheet improvements, including debt reduction and Series A dividend repayment, position SMC for enhanced free cash flow. Read the full article on Seeking Alpha
Analysis Article • May 14

Here's What's Concerning About Summit Midstream's (NYSE:SMC) Returns On Capital

When we're researching a company, it's sometimes hard to find the warning signs, but there are some financial metrics...
Analysis Article • Apr 07

Summit Midstream (NYSE:SMC) Has A Somewhat Strained Balance Sheet

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Seeking Alpha • Mar 28

Summit Midstream: Likely Common Dividend Resumption Could Pop The Stock

Summary Summit Midstream Corporation's Q4 results were decent, with adjusted EBITDA at $46.2M and free cash flow at $6.6M, aligning with expectations. 2025 guidance projects adjusted EBITDA between $245M-$280M, driven by well connections in the Rockies and the Moonrise Midstream acquisition. Free cash flow is expected to hit $100M, aiding deleveraging to a 3.5x leverage target and resumption of preferred dividends, potentially benefiting common shareholders. Despite trading like a small MLP, SMC's valuation suggests significant upside, with potential equity value appreciation over 70%, though risks include oil price sensitivity and weather impacts. Read the full article on Seeking Alpha
Seeking Alpha • Mar 08

Summit Midstream: Rough Ride Ahead

Summary Summit Midstream's recent financial reorganization introduces a new major shareholder. The troubled past of Summit Midstream may lead to market mispricing compared to future prospects. The stock's volatility is heightened by the lack of historical performance under the current structure. Investors should be aware of the risk of potential mispricing due to the company's recent turnaround efforts and new shareholder dynamics. The company has a large exposure to the coming natural gas pricing recovery. Read the full article on Seeking Alpha
Analysis Article • Mar 08

Summit Midstream Corporation's (NYSE:SMC) Price Is Right But Growth Is Lacking

You may think that with a price-to-sales (or "P/S") ratio of 0.9x Summit Midstream Corporation ( NYSE:SMC ) is a stock...
Analysis Article • Jan 20

Summit Midstream (NYSE:SMC) Has More To Do To Multiply In Value Going Forward

There are a few key trends to look for if we want to identify the next multi-bagger. One common approach is to try and...
Seeking Alpha • Dec 09

Summit Midstream Has A New Major Shareholder

Summary Summit Midstream's management avoided bankruptcy and turned the company from "fairly hopeless" to viable, with Tailwater Capital becoming a major shareholder. Tailwater Capital's involvement, with midstream experience, can be a big plus in the future. With a debt ratio under 4 and deferred preferred stock distributions gone, the company can now focus on sustainable growth. Conversion to a C-Corp will likely enhance future prospects. This idea has above-average risks. But not many managements accomplish what this management has done. Read the full article on Seeking Alpha
Seeking Alpha • Oct 15

Summit Midstream Keeps Digging

Summary Summit Midstream's previous management's complacency led to severe financial troubles. New management has announced an acquisition, marking a significant step in the company's long recovery to becoming a competitive industry player. Long-term shareholders have suffered substantial losses that are unlikely to be recovered. The conversion to a corporation involved canceling preferred dividends in arrears, addressing one of the major financial issues. This is a tale of how shareholders need to avoid complacent management before the trouble becomes apparent. Read the full article on Seeking Alpha
Analysis Article • Oct 04

Benign Growth For Summit Midstream Corporation (NYSE:SMC) Underpins Its Share Price

When close to half the companies operating in the Oil and Gas industry in the United States have price-to-sales ratios...
Seeking Alpha • Oct 03

Summit Midstream Corporation: Many Tailwinds Are Now In Play

Summary Summit Midstream Partners' acquisition of Tall Oak Midstream for $450M is set to boost EBITDA and cash flow, enhancing shareholder returns. Tensions in the Middle East and potential oil & gas price increases make Summit's domestic focus and balanced oil-gas exposure attractive. Summit's favorable valuation, with P/E and cash flow ratios significantly lower than the sector average, presents a strong investment opportunity. Access to the Gulf of Mexico markets and limited capital expenditure needs position Summit for growth, and dividends or buybacks are on deck for 2025. Read the full article on Seeking Alpha
Seeking Alpha • Aug 27

Summit Midstream's Earnings Reaffirm It As A Great Small Cap

Summary Summit Midstream Corporation is a small-cap company worth almost $400 million that was heavily impacted by COVID-19. The company's non-premium assets have posed challenges, but efforts to clean up the balance sheet are underway. Summit Midstream is focused on generating long-term shareholder returns despite the difficult position it currently finds itself in. Read the full article on Seeking Alpha

Revenue & Expenses Breakdown

How Summit Midstream makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NYSE:SMC Revenue, expenses and earnings (USD Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
31 Dec 25563-20610
30 Sep 25514-43590
30 Jun 25475-246590
31 Mar 25444-270570
31 Dec 24431-135560
30 Sep 24439-132520
30 Jun 2446270500
31 Mar 2446674470
31 Dec 23460-63420
30 Sep 23418-72450
30 Jun 23386-82420
31 Mar 23387-159440
31 Dec 22371-128450
30 Sep 22384-121620
30 Jun 22397-110620
31 Mar 22398-32590
31 Dec 21402-44590
30 Sep 21399129570
30 Jun 21387197590
31 Mar 21379266610
31 Dec 20384263640
30 Sep 20401-67490
30 Jun 20410-141480
31 Mar 20418-194460
31 Dec 19445-213510
30 Sep 19465-4520
30 Jun 1949451540
31 Mar 19522-4570
31 Dec 185085530
30 Sep 18500-47540
30 Jun 18497-5560
31 Mar 1847062550
31 Dec 1749073550
30 Sep 17489107550
30 Jun 1746017540
31 Mar 17448-43540
31 Dec 16403-48520
30 Sep 16388-278490
30 Jun 16408-256480
31 Mar 16406-204460
31 Dec 15401-196450
30 Sep 15412-16440
30 Jun 15381-32430

Quality Earnings: SMC is currently unprofitable.

Growing Profit Margin: SMC is currently unprofitable.

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: SMC is unprofitable, and losses have increased over the past 5 years at a rate of 47.1% per year.

Accelerating Growth: Unable to compare SMC's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: SMC is unprofitable, making it difficult to compare its past year earnings growth to the Oil and Gas industry (-4.3%).

Return on Equity

High ROE: SMC has a negative Return on Equity (-2.79%), as it is currently unprofitable.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/11 12:52
End of Day Share Price 2026/05/11 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Summit Midstream Corporation is covered by 13 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ethan BellamyBaird
Heejung RyooBarclays
Gabriel MoreenBofA Global Research