Summit Midstream (SMC) Stock News

Summit Midstream Corporation (NYSE: SMC) announced that Double E Pipeline has reached a final investment decision on its mainline compression expansion after a successful open season and a new long-term, take-or-pay firm transportation agreement for 200 MMcf/d with an investment-grade shipper. The expansion will add about 900 MMcf/d of forward haul capacity to Waha and is expected to enter service in the fourth quarter of 2028. Total contracted firm capacity on Double E is now approximately 2.2 Bcf/d, supported by around 550 MMcf/d of new long-term commitments from the open season.

Summit expects to invest about $100 million, net to its 70% interest, for the compressor station, plant connections and related infrastructure, funded entirely through its existing term loan at Summit Permian Transmission and a now-committed $50 million accordion, giving $100 million of committed financing capacity. The Double E joint venture has ordered long-lead gas turbine compression units, and the project remains subject to FERC and other regulatory approvals. According to Summit, management guidance indicates Permian Segment Adjusted EBITDA could increase from roughly $37 million in 2026 to over $100 million by 2030 when the project is fully subscribed.

Summit Midstream Corporation (NYSE: SMC) reported second quarter 2026 net income of $4.6 million, Adjusted EBITDA of $60.7 million (up 12% versus Q1 2026), Distributable Cash Flow of $36.8 million and Free Cash Flow of $9.4 million. Natural gas throughput on wholly owned systems averaged 899 MMcf/d and liquids volumes 68 Mbbl/d, while Double E averaged 859 MMcf/d and contributed $9.4 million of Adjusted EBITDA.

Summit tightened 2026 Adjusted EBITDA guidance to $235–$255 million and raised capital expenditure guidance to $100–$120 million. The company authorized a $35 million stock repurchase program and bought 34,624 shares for about $1.0 million in Q2, ending with total leverage of roughly 4.1x and $418 million of ABL borrowing availability.

Summit Midstream Corporation (NYSE: SMC) will release its operating and financial results for the second quarter of 2026 on Monday, August 10, 2026, after the close of NYSE trading.

The company will hold a related earnings conference call on August 11, 2026 at 10:00 a.m. Eastern, accessible via teleconference registration link and through a live webcast and archived replay in the Investors section of its website.

Summit Midstream (NYSE: SMC) reported new commercial progress across its Double E Pipeline in the Permian and crude gathering systems in the Williston Basin.

• Three new firm Double E agreements now total 250 MMcf/d, raising contracted capacity to about 1.9 Bcf/d.
• The Double E compression expansion open season is extended to June 30, 2026, with interest potentially exceeding available expansion capacity.
• The compression project would lift Double E capacity ~50% to 2.4 Bcf/d, with FID targeted by end of summer 2026 and an in-service date by end of 2028.
• Summit also signed a new crude gathering agreement in Divide County, North Dakota, covering over 40,000 dedicated acres and 15 planned four-mile laterals by year-end 2026, contributing to more than 240,000 acres of new dedicated footprint in six months.

Summit Midstream (NYSE: SMC) announced its inaugural stock repurchase program, authorizing buybacks of up to $35 million of common stock. Management cites improved free cash flow, financial flexibility, and repayment of all arrears on Series A preferred as support for this decision.

Repurchases may occur in the open market or privately, at management’s discretion, with no fixed end date.

Summit Midstream (NYSE:SMC) reported first quarter 2026 net loss of $3.2 million, Adjusted EBITDA of $54.2 million, Distributable Cash Flow of $26.9 million and Free Cash Flow of $11.4 million. Throughput averaged 870 MMcf/d of gas and 64 Mbbl/d of liquids.

The company connected 37 wells, signed new 10-year, 100 MMcf/d Double E capacity, and reiterated 2026 Adjusted EBITDA guidance of $225–$265 million. Summit completed a $42 million common equity private placement, refinanced Permian debt with a $440 million term facility, repaid accrued Series A preferred dividends, and kept the common dividend suspended.

Summit Midstream Corporation (NYSE: SMC) will report first-quarter 2026 operating and financial results on Monday, May 11, 2026 after market close. Summit will hold an earnings conference call at 10:00 a.m. ET on May 12, 2026, with a live webcast and archived replay available via the Investors section of its website.

Senior management will attend the 2026 Energy Infrastructure CEO & Investor Conference (May 18–20), RBC Global Energy, Power & Infrastructure Conference (June 2–3), and BofA Energy and Power Credit Conference (June 3–4); presentation materials will be posted on the investor website.

Summit Midstream (NYSE: SMC) entered a private placement with an affiliate of Tailwater Capital to issue 1,351,351 shares at $31.08 per share, raising approximately $42.0 million.

According to the company, proceeds will reduce borrowings under its asset-based lending facility and fund organic growth capital; Tailwater is expected to beneficially own about 39% post-transaction. Shares are subject to a 6-month lock-up and the deal was approved by the Audit Committee.

Summit Midstream (NYSE: SMC) reported Q4 2025 results with a net loss of $7.3M, Adjusted EBITDA $58.5M, DCF $33.7M and FCF $17.0M. Summit provided 2026 guidance of $225M–$265M Adjusted EBITDA and $85M–$105M capex (including $35M for Double E).

Key corporate actions include a $440M Double E term loan, an $85M one-time distribution to Summit to reduce preferred arrears and ABL borrowings, major long-term Double E take-or-pay contracts, and a 10-year Williston crude gathering agreement.