SM Energy Co
Close on Oct 19, 2026
- Market cap
- $9.33B
- P/E (TTM)
- 7.7
- Dividend yield
- 2.06%
Earnings
Next report expected Nov 2, 2026, before market open (estimated from past report dates)
| Quarter | Reported | Time | Revenue | EPS (GAAP) | EPS (adjusted) |
|---|---|---|---|---|---|
| Q2 FY2026 Ended Jun 30, 2026 | Aug 5, 2026 | After market close | $2.50B | $4.46 | $2.19 |
| Q1 FY2026 Ended Mar 31, 2026 | May 6, 2026 | After market close | $1.48B | $-1.68 | $1.55 |
| Q4 FY2025 Ended Dec 31, 2025 | Feb 25, 2026 | After market close | $705.00M | $0.95 | $0.83 |
| Q3 FY2025 Ended Sep 30, 2025 | Nov 3, 2025 | Before market open | – | – | – |
| Q2 FY2025 Ended Jun 30, 2025 | Jul 31, 2025 | After market close | $792.94M | $1.76 | $1.50 |
| Q1 FY2025 Ended Mar 31, 2025 | May 1, 2025 | After market close | $844.54M | $1.59 | $1.76 |
| Q4 FY2024 Ended Dec 31, 2024 | Feb 19, 2025 | After market close | – | $1.64 | $1.91 |
| Q3 FY2024 Ended Sep 30, 2024 | Oct 31, 2024 | After market close | $643.61M | $2.09 | $1.62 |
| Q2 FY2024 Ended Jun 30, 2024 | Aug 7, 2024 | After market close | – | – | – |
| Q1 FY2024 Ended Mar 31, 2024 | May 2, 2024 | After market close | – | – | – |
| Q4 FY2023 Ended Dec 31, 2023 | Feb 21, 2024 | After market close | – | – | – |
Company guidance
Outlook given with results on Aug 5, 2026, compared with the previous outlook
| Measure | Period | Guidance | vs. prior |
|---|---|---|---|
| Capital Expendituresnon-GAAP | 3Q 2026 | $740.00M to $790.00M | New |
| Capital Expendituresnon-GAAP | Full Year 2026 | $2.65B to $2.85B | Maintained |
| Exploration Expense | Full Year 2026 | $100.00M | Raised |
| One-Time Integration & Transaction — Non-Cash | Full Year 2026 | $20.00M | Lowered |
| One-Time Integration & Transaction — Cash | Full Year 2026 | $160.00M | Lowered |
| Recurring G&A | Full Year 2026 | $230.00M to $250.00M | Raised |
| One-Time Capital Costs | Full Year 2026 | $70.00M | Lowered |
| Facility, Land, and Other | Full Year 2026 | $280.00M | Lowered |
| DC&E | Full Year 2026 | $2.30B to $2.50B | Raised |
| Net Wells Drilled | 3Q 2026 | 55 | New |
| Net Wells Turned-In-Line | 3Q 2026 | 85 | Raised |
| Total Production (MMBoe) | 3Q 2026 | 39.5 to 40.5 | New |
| Total Production (MBoe/d) | 3Q 2026 | 430 to 440 | Raised |
| Oil Production (MBbl/d) | 3Q 2026 | 230 to 240 | Lowered |
| Net Wells Drilled | Full Year 2026 | 245 | Lowered |
| Net Wells Turned-In-Line | Full Year 2026 | 295 | Raised |
| Total Production (MMBoe) | Full Year 2026 | 152.5 to 154.5 | Lowered |
| Total Production (MBoe/d) | Full Year 2026 | 418 to 423 | Raised |
| Oil Production (MBbl/d) | Full Year 2026 | 223 to 225 | Lowered |
| Avg. Well Cost ($/lateral ft) | Full Year 2026 | 710 | Raised |
| Lease Operating Expense | Full Year 2026 | 6.5 to 6.8 | Lowered |
| Transportation | Full Year 2026 | 3.6 to 3.75 | Lowered |
| Ad Valorem Taxes | Full Year 2026 | 0.5 | Lowered |
| DD&A | Full Year 2026 | 14 to 15 | Raised |
| production | second-half 2026 | 435 to 440 | Raised |
| oil | second-half 2026 | 238 | Lowered |
| Cash Taxes: $80–$85/Bbl (WTI) | Full Year 2026 | $30.00M to $50.00M | Raised |
| Production Taxes (% of oil, gas and NGL revenue) | Full Year 2026 | 6% | Raised |
| Cash Taxes: $75–$80/Bbl (WTI) | Full Year 2026 | $20.00M to $30.00M | Lowered |
Figures and the sentence they come from are taken from the company's earnings release. Hover a measure to read the source sentence.
Press releases
Announcements SM Energy filed with the SEC
SM Energy Reports Second Quarter 2026 Results
Results of operations · Regulation FD disclosure · EX-99.1 to Form 8-K
SM Energy Announces Redemption of All Outstanding 2027 Senior Notes
Results of operations · Regulation FD disclosure · EX-99.2 to Form 8-K
SM Energy Reports First Quarter 2026 Results
Results of operations · EX-99.1 to Form 8-K
SM ENERGY CLOSES $950 MILLION SOUTH TEXAS DIVESTITURE; ANNOUNCES REDEMPTION OF ALL OUTSTANDING 2026 SENIOR NOTES
Acquisition or disposition completed · Regulation FD disclosure · EX-99.1 to Form 8-K
SM ENERGY ANNOUNCES EXPIRATION AND FINAL TENDER RESULTS OF PREVIOUSLY ANNOUNCED CASH TENDER OFFER
Regulation FD disclosure · EX-99.1 to Form 8-K
SM ENERGY ANNOUNCES EARLY TENDER RESULTS; EXTENDS AND UPSIZES PREVIOUSLY ANNOUNCED CASH TENDER OFFER
Regulation FD disclosure · EX-99.1 to Form 8-K
SM ENERGY PRICES AN UPSIZED PRIVATE OFFERING
Other events · EX-99.1 to Form 8-K
PRIVATE OFFERING OF $750 MILLION OF SENIOR NOTES DUE 2034
Other events · EX-99.1 to Form 8-K
SM ENERGY COMPANY ANNOUNCES CASH
Other events · EX-99.2 to Form 8-K
CIVITAS RESOURCES, INC. AND SUBSIDIARIES
Other events · EX-99.3 to Form 8-K
SM ENERGY REPORTS FOURTH QUARTER AND FULL-YEAR 2025 FINANCIAL AND OPERATING RESULTS
Results of operations · Other events · EX-99.1 to Form 8-K
SM ENERGY PROVIDES 2026 OUTLOOK
Results of operations · Other events · EX-99.2 to Form 8-K
SM ENERGY ANNOUNCES AGREEMENT TO SELL $950 MILLION
Material agreement · Regulation FD disclosure · EX-99.1 to Form 8-K
SM ENERGY CLOSES MERGER WITH CIVITAS RESOURCES
Material agreement · Acquisition or disposition completed · New financial obligation · Charter or bylaw amendment · Regulation FD disclosure · EX-99.1 to Form 8-K
SM ENERGY ANNOUNCES CREDIT FACILITY AMENDMENT
Material agreement · Acquisition or disposition completed · New financial obligation · Charter or bylaw amendment · Regulation FD disclosure · EX-99.2 to Form 8-K
RESOUNDINGLY APPROVE SM ENERGY AND CIVITAS MERGER
Shareholder vote results · Regulation FD disclosure · EX-99.1 to Form 8-K
SM ENERGY ANNOUNCES ADDITIONAL DETAILS ON PLANNED MERGER WITH CIVITAS
Regulation FD disclosure · EX-99.1 to Form 8-K
Merger Update November 17, 2025 NYSE: SM | SM-Energy.com NYSE: CIVI | CivitasResources.com
Regulation FD disclosure · EX-99.2 to Form 8-K
SM ENERGY REPORTS THIRD QUARTER 2025 FINANCIAL AND OPERATING RESULTS;
Results of operations · EX-99.1 to Form 8-K
SM ENERGY AND CIVITAS RESOURCES TO COMBINE IN $12.8 BILLION TRANSFORMATIONAL COMBINATION DELIVERING SUPERIOR STOCKHOLDER VALUE
Regulation FD disclosure · EX-99.1 to Form 8-K
Transformational Combination Delivering Superior Stockholder Value November 3, 2025 NYSE: SM | SM-Energy.com NYSE: CIVI | CivitasResources.com EXHIBIT 99.2
Regulation FD disclosure · EX-99.2 to Form 8-K
SM ENERGY’S LENDER GROUP UNANIMOUSLY REAFFIRMS BORROWING BASE AND APPROVES AMENDMENT TO CREDIT AGREEMENT
Material agreement · Regulation FD disclosure · EX-99.1 to Form 8-K
SM ENERGY ANNOUNCES PLANNED RETIREMENT OF CHIEF EXECUTIVE OFFICER HERBERT S. VOGEL AND APPOINTMENT OF ELIZABETH A. MCDONALD AS PRESIDENT
Executive or director change · Regulation FD disclosure · EX-99.1 to Form 8-K
SM ENERGY REPORTS SECOND QUARTER 2025 FINANCIAL AND OPERATING RESULTS;
Results of operations · EX-99.1 to Form 8-K
SM ENERGY REPORTS FIRST QUARTER 2025 FINANCIAL AND OPERATING RESULTS;
Results of operations · EX-99.1 to Form 8-K
SM ENERGY REPORTS RECORD 2024 RESULTS AND TRANSFORMATIVE 2025 OPERATING PLAN;
Results of operations · Executive or director change · EX-99.1 to Form 8-K
SM ENERGY APPOINTS DR. ASHWIN VENKATRAMAN
Executive or director change · Regulation FD disclosure · EX-99.1 to Form 8-K
SM ENERGY REPORTS THIRD QUARTER 2024 RESULTS
Results of operations · EX-99.1 to Form 8-K
SM ENERGY ANNOUNCES CLOSING OF UINTA ACQUISITIONS - SIGNIFICANTLY EXPANDING ITS TOP-TIER PORTFOLIO
Material agreement · Acquisition or disposition completed · New financial obligation · Regulation FD disclosure · EX-99.1 to Form 8-K
SM ENERGY APPOINTS BETH MCDONALD AS EXECUTIVE VICE PRESIDENT AND CHIEF OPERATING OFFICER
Executive or director change · Regulation FD disclosure · EX-99.1 to Form 8-K
SM ENERGY REPORTS SECOND QUARTER 2024 RESULTS AND
Results of operations · EX-99.1 to Form 8-K
SM ENERGY PRICES AN UPSIZED PRIVATE OFFERING OF $750 MILLION OF SENIOR NOTES DUE 2029 AND $750 MILLION OF SENIOR NOTES DUE 2032
Regulation FD disclosure · EX-99.1 to Form 8-K
SM ENERGY ANNOUNCES PRIVATE OFFERING OF $650 MILLION OF SENIOR NOTES DUE 2029 AND $650 MILLION OF SENIOR NOTES DUE 2032
Other events · EX-99.1 to Form 8-K
EXCERPTS FROM THE PRELIMINARY OFFERING MEMORANDUM DATED JULY 18, 2024
Other events · EX-99.2 to Form 8-K
XCL Resources Holdings, LLC and Subsidiaries
Other events · EX-99.3 to Form 8-K
SM ENERGY REPORTS FIRST QUARTER 2024 RESULTS;
Results of operations · EX-99.1 to Form 8-K
SM ENERGY REPORTS 2023 RESULTS AND 2024 OPERATING PLAN
Results of operations · Executive or director change · Regulation FD disclosure · EX-99.1 to Form 8-K
SM ENERGY ANNOUNCES THE APPOINTMENT OF BARTON R. BROOKMAN TO THE COMPANY’S BOARD OF DIRECTORS AND PROMOTION OF JAMES B. LEBECK
Results of operations · Executive or director change · Regulation FD disclosure · EX-99.2 to Form 8-K
SM ENERGY REPORTS PRODUCTION BEAT ON LOWER CAPITAL COSTS
Results of operations · EX-99.1 to Form 8-K
SM ENERGY REPORTS THIRD QUARTER 2023 RESULTS
Results of operations · Other events · EX-99.1 to Form 8-K