Summit Midstream Partners, LP Stock Price, News & Analysis

Summit Midstream Partners, LP (NYSE: SMLP) announced that it will report its operating and financial results for Q1 2023 on May 5, 2023, before the stock market opens. A conference call will be held at 10:00 a.m. Eastern on the same day to discuss these results. Investors can access the call via a teleconference registration link provided in the release. Additionally, SMLP's management will participate in several upcoming investor conferences, including the Energy Infrastructure CEO & Investor Conference from May 22-24, 2023, and the RBC Capital Markets Global Energy, Power & Infrastructure Conference from June 6-7, 2023. SMLP focuses on midstream energy infrastructure primarily in key shale formations across the United States, offering services under long-term agreements.

Summit Midstream Partners, LP (NYSE: SMLP) announced the availability of its 2022 tax packages, including the Schedule K-1, which can be accessed online at partnerdatalink.com. The firm will begin mailing these packages to unitholders this week. SMLP focuses on midstream energy infrastructure in key shale formations across the U.S., providing services like gas and oil gathering, with operations in five major basins. Unitholders can contact Partner DataLink for assistance at SummitK1Help@deloitte.com.

On March 6, 2023, Summit Midstream Partners and Clariter announced a strategic collaboration aimed at addressing plastic pollution through innovative chemical recycling technology. Summit's investment reflects confidence in Clariter's ability to convert plastic waste into high-value products such as oils and waxes. This partnership will leverage Summit's expertise to support the construction of Clariter's commercial-scale plants in the U.S., tackling energy and infrastructure needs. With 400 million tons of plastic produced annually, both companies aim to contribute to sustainability efforts and reduce dependency on fossil fuels, aligning with the global movement towards a net-zero carbon future.

Summit Midstream Partners (SMLP) reported a fourth quarter 2022 net loss of $23.9 million and adjusted EBITDA of $50.3 million. The Partnership faced $4 million in severe weather outages and unusual expenses. For 2022, adjusted EBITDA was $212.3 million with free cash flow of $73.5 million. SMLP executed four strategic acquisitions and divestitures, bolstering its DJ Basin position. The company provided 2023 adjusted EBITDA guidance of $290 million to $320 million, indicating approximately 40% year-over-year growth. Average daily natural gas throughput decreased to 1,148 MMcf/d, partly due to the Bison divestiture.