Q1 2026 Summit Midstream Corp Earnings Call Transcript

May 12, 2026 / 02:00 PM GMT

Release Date Price: $29.65 (-0.57%)

Transcript 8-K10-Q

Key Points

Positve

Summit Midstream Corp (SMC) reported first quarter 2026 adjusted EBITDA of $54.2 million, aligning with expectations despite challenges.
Higher crude oil prices have positively impacted the Rocky segment, offsetting underperformance in the Mid-Continent segment.
The company expects to trend towards the midpoint of its 2026 adjusted EBITDA guidance of $225 million to $265 million.
Summit Midstream Corp (SMC) has made significant progress in simplifying and improving its balance sheet, including paying off $45 million of accrued Series A preferred stock dividends.
The company has secured a new 10-year take-or-pay agreement for its EE pipeline, increasing contracted volumes to over 1.7 BCF a day.

Negative

The Mid-Continent segment experienced underperformance due to lower volumes and realized residue gas prices.
The Rockies segment saw a decrease in adjusted EBITDA by $1.5 million compared to the previous quarter, primarily due to non-cash imbalances and reduced liquids volumes.
The PION segment reported a decline in adjusted EBITDA due to volume throughput declines and temporary shut-ins.
Natural production declines in the Mid-Con segment led to a decrease in adjusted EBITDA, despite new well connections.
Some customers have shut in approximately 20 million cubic feet per day of volume due to low regional gas prices, impacting production.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SMC.N - Summit Midstream Corp
Q1 2026 Summit Midstream Corp Earnings Call
May 12, 2026 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Thank you for standing by and welcome to the Summit Midstream First Quarter 2026 Earnings Conference Call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you'll need to press *11 on your telephone. If your question has been answered and you'd like to remove yourself from the queue, simply press *11 again. As a reminder. Today's program is being recorded. And now I'd like to introduce your host of today's program, Randall Burton, Treasurer and Investor Relations. Please go ahead, sir.

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Unidentified_2 [2]
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