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SM Energy SM Q2 2026 earnings

Reported August 5, 2026 · After market close

Revenue$2.5BBeat by $475.0M
EPS$2.19Beat by $0.23
Revenue estimate$2.0B
EPS estimate$1.96
“Our team delivered strong results in the second quarter, generating significant free cash flow on the strength of our scaled portfolio, In our first full quarter as a combined company, we moved with urgency, actioning 95% of our targeted run-rate synergies, while further strengthening our balance sheet and returning $137 million to stockholders through dividends and share repurchases. With strong performance year-to-date, we today raised second-half 2026 production expectations, reaffirmed full-year capital expectations and reduced our full-year G&A guidance. Our team is focused on disciplined execution – turning scale and asset quality into growing, durable returns for stockholders.”
Management

Next report

Nov 2, 2026 (in a month)
Revenue estimate$1.9B
EPS estimate$1.77

Financials

Q2 2026

Income statement

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Revenue$2.5B+215%
Gross profit$1.9B+242%
Operating income$1.5B+407%
Net income$1.1B+430%
EPS (diluted)$4.46+153%

Balance sheet

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Cash & equivalents$620.0M+509%
Total equity$7.8B+70.2%
Total assets$18.9B+110%

Cash flow

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Operating cash flow$1.1B+93.2%

Valuation & ratios

Valuation

as of 09/17/26
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Market cap$9.08B+188%
P/E9.1×+5.2×
P/S1.7×+0.6×

Profitability

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Gross margin74.2%+0.1pp
Operating margin29.6%-8.3pp
Net margin18.2%-7.7pp

Returns & leverage

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Return on equity16.1%-3.1pp
Current ratio0.6×-0.1×

Segments

By geography

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Midland Basin$1.1B+225%
DJ Basin$579.0M—
Uinta Basin$286.0M+23.3%
South Texas$181.0M-14.2%

By product

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Crude Oil$2.0B+210%
Natural Gas Liquids (NGL)$115.0M+113%
Natural Gas$15.0M-80.8%

By segment

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E&P Segment$2.5B+215%

FAQ

When did SM Energy report Q2 2026 earnings?
SM Energy (SM) reported Q2 2026 earnings on August 5, 2026 after market close.
What were SM Energy's Q2 2026 revenue and EPS?
SM Energy reported revenue of $2.5B and eps of $2.19 for Q2 2026.
Did SM Energy beat estimates in Q2 2026?
Revenue beat the consensus estimate of $2.0B by $475.0M. EPS beat the consensus estimate of $1.96 by $0.23.
How did SM Energy's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 218.4% from $785.1M a year earlier and eps grew 46.0% from $1.50.
Where can I find SM Energy's Q2 2026 SEC filings?
You can read the 8-K earnings release (0000893538-26-000119) and the 10-Q periodic report (0000893538-26-000121) directly on SEC EDGAR. The filing index links above go to sec.gov.