Summit Midstream Corp/$SMC

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About Summit Midstream Corp

Summit Midstream Corp is a value-driven corporation focused on developing, owning and operating midstream energy infrastructure assets strategically located in unconventional resource basins, shale formations, in the continental U.S. It currently operates natural gas, crude oil and produced water gathering systems in four unconventional resource basins: the Williston Basin in North Dakota, which includes the Bakken and Three Forks shale formations; the Denver-Julesburg Basin, which includes the Niobrara and Codell shale formations in Colorado and Wyoming; the Fort Worth Basin in Texas, which includes the Barnett Shale formation; and the Piceance Basin in Colorado, which includes the liquids-rich Mesaverde formation as well as the emerging Mancos and Niobrara Shale formations.

Ticker

$SMC
Sector

Primary listing

NYSE

Industry

Oil, Gas and Consumable Fuels

Employees

272

ISIN

US86614G1013

SMC Metrics

BasicAdvanced
$320M
-
-$24.67
1.13
-

Bulls say / Bears say

First quarter 2025 net income of $4.6 million, adjusted EBITDA of $57.5 million and distributable cash flow of $33.5 million highlight improving profitability and cash generation.
Completion of the $90 million bolt-on acquisition of Moonrise Midstream in the DJ Basin on March 10, 2025, adds 65 MMcf/d of processing capacity, alleviating regional constraints and positioning the company for volume growth.
Finalized a $10 million Rockies optimization project expected to improve adjusted EBITDA margins beginning in the second quarter of 2025, enhancing operational efficiency and margin profile.
Issued $250 million of 8.625% senior secured second lien notes due 2029 and carried total leverage at approximately 3.9x at year-end 2024, exposing cash flows to high fixed interest costs amid volatile commodity prices.
Management noted potential impacts from U.S. tariffs and recent crude oil price reductions, with deferred well turn-ins in the Rockies possibly driving volumes toward the lower end of guidance.
Adjusted EBITDA for Q1 2025 decreased to $57.5 million from $70.1 million in Q1 2024, marking a year-over-year decline of about 17.9% and signaling margin and volume pressures.
Data summarised monthly by Lightyear AI. Last updated on 20 Jul 2025.
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
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