Rhea-AI Summary
Summit Midstream Partners, LP reported its Q1 2024 financial results, with net income of $132.9 million, adjusted EBITDA of $70.1 million, DCF of $32.5 million, and FCF of $17.2 million. Reduced net leverage ratio to 3.9x, connected 71 wells, and concluded the Double E open season successfully. Pro forma 2024 Adjusted EBITDA guidance of $170-200 million. Sold Northeast assets, revised focus on Rockies and Permian segments, maintaining liquidity and de-leveraging efforts.
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FAQ
What is the current stock price of Summit Midstream Partners, LP (SMLP)?
The current stock price of Summit Midstream Partners, LP (SMLP) is $36.82 as of January 24, 2025.
What is the market cap of Summit Midstream Partners, LP (SMLP)?
The market cap of Summit Midstream Partners, LP (SMLP) is approximately 405.2M.