Summit Midstream Corp. (SMC)
NYSE · Natural Gas Transmission · Transportation, communications and utilities · CIK 2024218 · fiscal year ends in Dec
Closing price $31.02 on 30 Oct 2026; 52-week range $21.20 to $34.96.
Key figures
The last twelve months reported, with the latest price and balance sheet.
- Revenue, last twelve months
- $583.3M
- Revenue growth
- 20.9%
- Net income, last twelve months
- -$3.6M
- Earnings per share
- -$1.11
- Gross margin
- 71.5%
- Operating margin
- 14.6%
- Net margin
- -0.6%
- Free cash flow
- $44.8M
- Return on equity
- -0.6%
- Market value
- $330.3M
- Cash
- $21.0M
- Debt
- $1.2B
- Debt to equity
- 2.07
- Shares outstanding
- 10.6M
Financial statements
Revenue, profit and cash flow by fiscal year, each year linked to its annual report.
| Fiscal year | Year end | Revenue | Operating income | Net income | EPS | Free cash flow | Filing |
|---|---|---|---|---|---|---|---|
| FY2025 | 31 Dec 2025 | $562.1M | $72.4M | -$5.9M | -$1.61 | $44.6M | 10-K filed 16 Mar 2026 |
| FY2024 | 31 Dec 2024 | $429.6M | -$41.9M | -$122.2M | -$12.78 | $8.2M | 10-K filed 11 Mar 2025 |
| FY2023 | 31 Dec 2023 | $458.9M | $76.6M | -$51.5M | -$6.11 | $58.0M | 10-K filed 11 Mar 2025 |
By quarter
| Quarter | Quarter end | Revenue | Net income | EPS |
|---|---|---|---|---|
| Q2 FY2026 | 30 Jun 2026 | $155.0M | $1.6M | $0.11 |
| Q1 FY2026 | 31 Mar 2026 | $139.1M | -$5.3M | -$0.43 |
| Q4 FY2025 | 31 Dec 2025 | $142.3M | $1.6M | -$0.66 |
| Q3 FY2025 | 30 Sep 2025 | $146.9M | -$1.6M | -$0.13 |
| Q2 FY2025 | 30 Jun 2025 | $140.2M | -$8.0M | -$0.66 |
| Q1 FY2025 | 31 Mar 2025 | $132.7M | $2.0M | -$0.16 |
| Q4 FY2024 | 31 Dec 2024 | $107.0M | -$18.8M | -$2.40 |
| Q3 FY2024 | 30 Sep 2024 | $102.4M | -$201.5M | -$19.25 |
Revenue by segment
As the company reports it in the segment note of its annual report.
By business, FY2025
| Segment | Revenue | Share |
|---|---|---|
| Rockies | $329.4M | 58.6% |
| Mid-Con | $159.2M | 28.3% |
| Piceance | $69.9M | 12.4% |
| Permian | $3.6M | 0.6% |
By product, FY2025
| Segment | Revenue | Share |
|---|---|---|
| Natural gas, NGLs and condensate sales | $265.1M | 47.2% |
| Gathering services and related fees | $255.7M | 45.5% |
| Other revenues | $41.4M | 7.4% |
Company events
The newest 8-K filings of 26 held.
| Filed | Form | Event | Items |
|---|---|---|---|
| 10 Aug 2026 | 8-K | Results | 2.02, 9.01 |
| 10 Jun 2026 | 8-K | Investor update | 7.01 |
| 1 Jun 2026 | 8-K | Investor update | 7.01, 9.01 |
| 12 May 2026 | 8-K | Shareholder vote | 5.07 |
| 11 May 2026 | 8-K | Results | 2.02, 9.01 |
| 2 Apr 2026 | 8-K | Material agreement, Share sale, Investor update | 1.01, 3.02, 7.01, 9.01 |
| 16 Mar 2026 | 8-K | Results | 2.02 |
| 29 Dec 2025 | 8-K | Leadership change | 5.02 |
| 10 Nov 2025 | 8-K | Results | 2.02, 9.01 |
| 12 Aug 2025 | 8-K | Results | 2.02, 9.01 |
| 9 May 2025 | 8-K | Leadership change, Shareholder vote | 5.02, 5.07, 9.01 |
| 8 May 2025 | 8-K | Results | 2.02, 9.01 |
Every filing
The newest filings with the SEC of 57 held.
| Filed | Form | Period |
|---|---|---|
| 10 Aug 2026 | 8-K | 10 Aug 2026 |
| 10 Aug 2026 | 10-Q | 30 Jun 2026 |
| 29 Jun 2026 | S-8 | – |
| 10 Jun 2026 | 8-K | 8 Jun 2026 |
| 1 Jun 2026 | 8-K | 1 Jun 2026 |
| 12 May 2026 | 8-K | 7 May 2026 |
| 11 May 2026 | 8-K | 11 May 2026 |
| 11 May 2026 | 10-Q | 31 Mar 2026 |
| 10 Apr 2026 | ARS | 31 Dec 2025 |
| 10 Apr 2026 | DEF 14A | 7 May 2026 |
| 2 Apr 2026 | 8-K | 31 Mar 2026 |
| 16 Mar 2026 | 10-K | 31 Dec 2025 |
Insider trades
Form 4 trades by officers, directors and 10% owners, last 12 months.
| Traded | Insider | Type | Shares | Price | Value | Held after | Form 4 |
|---|---|---|---|---|---|---|---|
| 1 Oct 2026 | Johnston James David, Executive VP, GC, CCO and Secy | Sale under a trading plan | 2,600 | $30.51 | $79.3K | 72,757 | 2 Oct 2026 |
| 2 Jul 2026 | Johnston James David, Executive VP, GC, CCO and Secy | Sale under a trading plan | 2,600 | $29.72 | $77.3K | 75,357 | 6 Jul 2026 |
| 19 May 2026 | Peters Jerry L, Director | Sale outside a trading plan | 10,000 | $32.00 | $320.0K | 16,979 | 21 May 2026 |
| 31 Mar 2026 | Connect Midstream, Llc, 10% owner | Purchase | 1,220,918 | $31.08 | $37.9M | 1,367,397 | 13 Apr 2026 |
Planned insider sales
Form 144 notices, filed when the sell order goes to the broker.
| Filed | Seller | Shares | Value | Planned sale |
|---|---|---|---|---|
| 2 Jul 2026 | JAMES JOHNSTON, Officer | 5,200 | $153.4K | 2 Jul 2026 |
| 18 May 2026 | PETERS JERRY L, Director | 10,000 | $317.0K | 18 May 2026 |
Large holders
Schedule 13D and 13G filings by holders of more than 5% of the voting shares.
| Filed | Holder | Schedule | Stake | Shares |
|---|---|---|---|---|
| 27 Apr 2026 | BlackRock, Inc. | 13G amended | 4.9% | 612.8K |
| 9 Apr 2026 | Connect Midstream, LLC | 13D amended | 39.1% | 7.9M |
| 27 Mar 2026 | The Vanguard Group | 13G amended | 0% | 0 |
| 6 Jan 2026 | He Zhengxu | 13G amended | – | – |
Short interest
Shares sold short and not yet bought back, on each FINRA settlement date.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 15 Oct 2026 | 160.0K | -6.74% | 1.52 |
| 30 Sep 2026 | 171.6K | -28.53% | 1.93 |
| 15 Sep 2026 | 240.1K | -2.13% | 3.99 |
| 31 Aug 2026 | 245.3K | -10.12% | 5.91 |
| 14 Aug 2026 | 272.9K | +2.09% | 3.94 |
| 31 Jul 2026 | 267.3K | +14.17% | 6.16 |
| 15 Jul 2026 | 234.2K | +39.97% | 5.21 |
| 30 Jun 2026 | 167.3K | +2.58% | 2.06 |
Funds that hold it
From each fund's latest Form 13F.
84 funds held it at 30 Jun 2026: 40 added and 18 trimmed in the quarter. The largest:
| Fund | Shares | Value | Change in the quarter |
|---|---|---|---|
| Invesco Ltd. | 967,503 | $27.6M | -1,896 |
| Deltroit Asset Management (UK) LLP | 815,000 | $23.2M | +107,944 |
| BlackRock, Inc. | 658,624 | $18.8M | +9,233 |
| Vanguard Capital Management LLC | 511,424 | $14.6M | +5,253 |
| Eagle Global Advisors LLC | 263,086 | $7.5M | +36,288 |
| Geode Capital Management, LLC | 247,637 | $7.1M | +14,615 |
| State Street Corp. | 184,546 | $5.3M | +5,939 |
| Flat Footed LLC | 158,517 | $4.5M | +34,239 |
| American Century Companies Inc. | 155,119 | $4.4M | +32,698 |
| Charles Schwab Investment Management Inc. | 122,853 | $3.5M | -51,472 |
Peers
Companies in the same industry.
- Williams Companies, Inc. (WMB): revenue $12.2B, market value $91.0B
- National Grid plc (NGG): revenue $23.7B, market value $87.3B
- Enterprise Products Partners L.P. (EPD): revenue $58.5B, market value $82.4B
- Kinder Morgan, Inc. (KMI): revenue $18.3B, market value $75.5B
- Targa Resources Corp. (TRGP): revenue $16.7B, market value $67.5B
- TC Energy Corporation (TRP): revenue $10.9B, market value $67.2B
- Western Midstream Partners, LP (WES): revenue $4.3B, market value $19.2B
- DT Midstream, Inc. (DTM): revenue $1.3B, market value $12.7B
- Antero Midstream Corp. (AM): revenue $1.3B, market value $10.2B
- Kinetik Holdings Inc. (KNTK): revenue $1.9B, market value $9.2B