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SM Energy SM Q3 2025 earnings

Reported November 4, 2025 · After market close

Revenue$811.0MMiss by $22.7M
EPS$1.33Beat by $0.08
Revenue estimate$833.7M
EPS estimate$1.25

Next report

Aug 5, 2026 (In 6 days)
Revenue estimate$2.0B
EPS estimate$1.93

Financials

Q3 2025

Income statement

See full
Revenue$811.6M+26.1%
Gross profit$582.6M+17.6%
Operating income$246.5M-25.5%
Net income$155.1M-35.5%
EPS (diluted)$1.35-35.4%

Balance sheet

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Cash & equivalents$162.3M-90.7%
Total equity$4.7B+16.0%
Total assets$9.1B+13.2%

Cash flow

See full
Operating cash flow$505.0M+11.7%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$2.87B-37.4%
P/E3.9×-1.6×
P/S0.9×-1.0×

Profitability

See full
Gross margin73%-4.1pp
Operating margin33.5%-11.4pp
Net margin22%-11.9pp

Returns & leverage

See full
Return on equity16.6%-5.6pp
Current ratio0.6×-3.0×

Segments

By product

See full
Crude Oil$669.1M—
Natural Gas$84.2M—
Natural Gas Liquids (NGL)$57.7M—

By geography

See full
South Texas$235.3M-0.3%
Uinta Basin$231.5M—

By segment

See full
E&P Segment$811.6M+26.1%

Versus estimates

Revenue

Q1 2026$1.5BBeat by $60.8MQ4 2025$705.0MMiss by $59.6M
Q3 2025$811.0MMiss by $22.7M
Q2 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 $0.42Q4 2025$0.83Beat by $0.00
Q3 2025$1.33Beat by $0.08
Q2 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 Q3 2025 earnings?
SM Energy (SM) reported Q3 2025 earnings on November 4, 2025 after market close.
What were SM Energy's Q3 2025 revenue and EPS?
SM Energy reported revenue of $811.0M and eps of $1.33 for Q3 2025.
Did SM Energy beat estimates in Q3 2025?
Revenue missed the consensus estimate of $833.7M by $22.7M. EPS beat the consensus estimate of $1.25 by $0.08.
How did SM Energy's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 26.3% from $642.4M a year earlier and eps declined 17.9% from $1.62.
Where can I find SM Energy's Q3 2025 SEC filings?
You can read the 8-K earnings release (0000893538-25-000144) and the 10-Q periodic report (0000893538-25-000138) directly on SEC EDGAR. The filing index links above go to sec.gov.