SM Energy Q3 profit falls to $155.1 million as revenue rises year over year
SM Energy reported third-quarter 2025 results on November 3, 2025. Net income fell to $155.1 million, or $1.35 per diluted share, from $240.5 million, or $2.09, a year earlier, while total operating revenues and other income rose to $811.6 million from $643.6 million. The company raised its full-year 2025 capital expenditure guidance to $1.375 billion to $1.395 billion, though it lowered several cost estimates and narrowed production guidance.
Key points
- Third-quarter net income was $155.1 million, or $1.35 per diluted share, versus $240.5 million, or $2.09, in the same period of 2024.
- Total operating revenues and other income were $811.6 million, compared with $643.6 million in the third quarter of 2024.
- Full-year 2025 capital expenditure guidance was increased to $1.375 billion to $1.395 billion, excluding acquisitions.
- Adjusted free cash flow was $234.3 million, an 80% increase from the same period in 2024.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:57 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 03, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.