Summit Midstream's Q2 adjusted EBITDA rises 12% from Q1 on Rockies segment growth - SMC News | RalliesSummit Midstream's Q2 adjusted EBITDA rises 12% from Q1 on Rockies segment growth
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SMC• Outlook
- Summit tightens 2026 Adjusted EBITDA guidance to $235 mln-$255 mln
- Company raises 2026 capital expenditure forecast to $100 mln-$120 mln for additional growth projects
- Summit expects minimal impact from new Williston wells in 2026, positioning for a strong 2027
Overview
- U.S. midstream energy operator's Q2 revenue rose to $155 mln, net income was $4.6 mln
- Adjusted EBITDA for Q2 increased 12% from Q1, driven by higher customer activity
- Company established a $35 mln share repurchase program, repurchased $1 mln in shares in Q2
Key details
| Metric | Actual | Consensus Estimate |
|---|
| Q2 Revenue | $155.01 mln | |
| Q2 EPS |
| Q2 Net Income | $4.60 mln | $169 mln (2 Analysts) |
| Q2 Adjusted EBITDA | $60.70 mln | |
Result Drivers
- Rockies segment growth - Majority of Adjusted EBITDA increase attributed to higher activity and new well connections in the Rockies segment
- Mid-Con volume increase - 9.9% rise in Mid-Con natural gas throughput driven by new well connections in Barnett and Arkoma
- Commercial agreements - New firm transportation and crude gathering agreements in Permian and Williston Basins supported long-term outlook
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