SM Energy Q3 revenue rises to $2.17 billion; oil output guidance cut
SM Energy reported third-quarter 2026 total operating revenues and other income of $2.17 billion, up from $812 million a year earlier, but net income fell to $93 million, or $0.39 per diluted share, from $155 million, or $1.35, in the prior-year quarter. The company lowered its full-year 2026 oil production guidance to 220-222 MBbl/d, citing transitory factors, while keeping capital expenditures at about $2.75 billion.
Key points
- Total operating revenues and other income were $2.17 billion, compared with $812 million in the third quarter of 2025.
- Net income was $93 million, or $0.39 per diluted share, including a $477 million non-cash loss from changes in the fair value of commodity derivative contracts.
- Full-year 2026 oil production guidance was lowered by 1% to 220-222 MBbl/d; total production guidance was narrowed to 420-422 MBoe/d.
- Net debt was reduced to $6.0 billion from $7.4 billion at March 31, 2026, after redeeming all $417 million of 6.625% Senior Notes due 2027.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 7, 2026, 11:17 PM ET, from the text of the filing and its press-release exhibits only.
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