SM Energy (SM) Tops Q2 EPS by 33c, provides guidance

SM Energy (NYSE: SM) reported Q2 EPS of $1.85, $0.33 better than the analyst estimate of $1.52. Revenue for the quarter came in at $634.56 million versus the consensus estimate of $615.84 million.

UPDATED GUIDANCE FULL YEAR 2024:

Presented before consideration of Uinta Basin Acquisitions.

Full year guidance for net production is unchanged at 57-60 MMBoe, or 156-164 MBoe/d.
Oil production, as a percent of total production, is increased from 44% to 45%, or an average of 70-74 MBbls/d.
Full year guidance for capital expenditures (net of the change in capital accruals),(1) excluding acquisitions, is unchanged at $1.14-$1.18 billion. The Company has increased the number of net wells drilled and completed in 2024 to approximately 123 and 125, respectively.
Other expense line items remain unchanged.

For earnings history and earnings-related data on SM Energy (SM) click here.

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