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SM Energy SM Q1 2026 earnings

Reported May 6, 2026 · After market close

Revenue$1.5BBeat by $60.8M
EPS$1.55Beat by $0.42
Revenue estimate$1.4B
EPS estimate$1.13

Next report

Aug 5, 2026 (In 1 week)
Revenue estimate$2.0B
EPS estimate$1.93

Financials

Q1 2026

Income statement

See full
Revenue$1.5B+75.0%
Gross profit$1.1B+69.5%
Operating income-$298.0M-208%
Net income-$335.0M-284%
EPS (diluted)-$1.68-206%

Balance sheet

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Cash & equivalents$449.0M+831,381%
Total equity$6.9B+55.9%
Total assets$19.1B+118%

Cash flow

See full
Operating cash flow$640.0M+32.5%

Valuation & ratios

Valuation

as of 07/28/26
See full
Market cap$7.26B+121%
P/E55.6×+51.5×
P/S1.9×+0.9×

Profitability

See full
Gross margin71.3%-4.4pp
Operating margin11.2%-28.2pp
Net margin3.5%-24.1pp

Returns & leverage

See full
Return on equity2.3%-17.9pp
Current ratio0.4×-0.2×

Segments

By geography

See full
Midland Basin$729.0M—
DJ Basin$342.0M—
Uinta Basin$206.0M-3.7%
South Texas$200.0M-14.2%

By product

See full
Crude Oil$1.3B—
Natural Gas$124.0M—
Natural Gas Liquids (NGL)$91.0M—

By segment

See full
E&P Segment$1.5B+75.0%

Versus estimates

Revenue

Q1 2026$1.5BBeat by $60.8M
Q4 2025$705.0MMiss by $59.6MQ3 2025$811.0MMiss by $22.7MQ2 2025$785.1MMiss by $39.1MQ1 2025$839.6MBeat by $60.7MQ4 2024$835.9MMiss by $13.6M

Diluted EPS

Q1 2026$1.55Beat by $0.42
Q4 2025$0.83Beat by $0.00Q3 2025$1.33Beat by $0.08Q2 2025$1.50Beat by $0.25Q1 2025$1.76Beat by $0.14Q4 2024$1.91Miss by $0.09

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Questions, answered.

When did SM Energy report Q1 2026 earnings?
SM Energy (SM) reported Q1 2026 earnings on May 6, 2026 after market close.
What were SM Energy's Q1 2026 revenue and EPS?
SM Energy reported revenue of $1.5B and eps of $1.55 for Q1 2026.
Did SM Energy beat estimates in Q1 2026?
Revenue beat the consensus estimate of $1.4B by $60.8M. EPS beat the consensus estimate of $1.13 by $0.42.
How did SM Energy's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 76.2% from $839.6M a year earlier and eps declined 11.9% from $1.76.
Where can I find SM Energy's Q1 2026 SEC filings?
You can read the 8-K earnings release (0000893538-26-000059) and the 10-Q periodic report (0000893538-26-000061) directly on SEC EDGAR. The filing index links above go to sec.gov.